事件經過
Hao Mart 由陳金榮博士於2016年創立,首間門市開在黃埔通道第74座。它快速擴張——於2021年12月達到51間門市的高峰——並層層疊加多種業態:一般超市與小型超市、販售雜貨與國際食品的高端 Eccellente 概念,以及位於烏節路、向房東 OG 承租的五層樓旗艦商場 Taste Orchard。
財務表現卻始終跟不上。Hao Mart 於2023財年虧損2320萬新元、2024財年虧損3280萬新元、2025財年虧損4960萬新元,而2025財年營收更跌至歷來最低的1100萬新元。門市版圖也同步崩解:2022年12月剩38間、2024年12月剩20間——而當《海峽時報》於2026年3月走訪全部20個列載地點時,僅有七間仍在營運。競爭對手直接進駐騰空的店址,Sheng Siong 與 Value Dollar 都是接手 Hao Mart 舊址的業者。ACRA 因該公司未按時提交年度申報表而對其採取執法行動。
到了2026年8月初,僅剩六間門市營業,而最後一間 Eccellente 門市——濱海廣場——已於6月在租約自然到期時關閉,高端概念就此全面終結。這場崩解如今已進入法院審理。
OG 就 Taste Orchard 租約向 Hao Mart 索賠660萬新元,其中包括560萬新元的欠租;陳金榮、其妻子及 Hao Mart 則反過來向 OG 提出5750萬新元的共謀索賠,而 OG 又反指 Hao Mart 欠其7350萬新元。Hao Mart 就 Taste Orchard 的租賃事宜向 PropNex 旗下單位及一名經紀索賠350萬新元,前轉租戶 Belovie 則向 Hao Mart 索賠超過44萬5000新元。
代價為何
門市與業態的擴張速度超過了它們的獲利能力;烏節路旗艦店成為無法負擔的租約,最終導致4960萬新元虧損與五宗訴訟。
為何發生
這家連鎖店擴張門市數量與業態多樣性的速度,超過了任何一項業務自我獲利的能力;虧損逐年擴大,營收卻持續萎縮。
向 OG 這類房東承租五層樓的烏節路旗艦店,使一場零售賭注變成這家連鎖店無力承擔的租約義務。
網站仍列載20間門市,實際卻只有六間在營業——對外宣稱的網絡與實際情況之間的落差,說明縮編的速度已超出帳務處理的腳步。
教訓
缺乏單位經濟效益的擴張,最終在房東的法庭上收場:Hao Mart 於2021年在新加坡達到51間門市的高峰;到了2026年8月僅剩六間,2025財年虧損4960萬新元,並面臨五宗高等法院訴訟。
後續發展
截至2026年8月初,Hao Mart 在新加坡有六間門市營運,而全部八間以上的 Eccellente 門市均已關閉。這家連鎖店深陷與房東 OG 就 Taste Orchard 租約展開的高等法院訴訟,雙方互為主張的金額達數千萬。2025財年數據遲至2026年1月才向 ACRA 申報。
追溯依據
參考來源
- The Straits Times — "Hao Mart shuts stores, sinks deeper into losses with four High Court lawsuits looming", 23 April 2026 (website lists 20 outlets but only seven operating when ST visited all locations in second half of March 2026 — six regular stores plus one premium Eccellente at Marina Square; footprint peaked at 51 stores December 2021, 38 in December 2022; loss of $49.6 million for FY ended March 31, 2025, revenue fell to lowest at $11 million in FY2025; $32.8 million FY2024, $23.2 million FY2023, $2.2 million FY2019; OG sued Hao Mart October 2025 for $6.6 million alleging lease breach incl. $5.6 million rent arrears; Tan Kim Yong, wife Teo Siew Ling and Hao Mart sued OG and its in-house lawyer January 2026 for $57.5 million alleging conspiracy; OG counters Hao Mart owed $73.5 million by October 2025; Hao Mart sued PropNex unit and agent for $3.5 million over Taste Orchard lease misrepresentation; Belovie sued Hao Mart for more than $445,000; Sheng Siong, Value Dollar took over former Hao Mart spaces; founded 2016 by Dr Tan Kim Yong, first store Block 74 Whampoa Drive) straitstimes.com
- The Straits Times — "Last of Hao Mart's upscale Eccellente outlets closes at Marina Square", 4 August 2026 (Eccellente Marina Square appears to have closed in June after lease expired; all of Hao Mart's Eccellente outlets have ceased operations; at least eight Eccellente outlets existed; ST visits Aug 1–3 found only six stores operating, in Bedok, Canberra, Pasir Ris, Bukit Panjang, Potong Pasir and Whampoa; website still listed 20 outlets on Aug 4; loss of $49.6 million for FY ended March 31, 2025, third consecutive year of widening losses; five High Court lawsuits; SingLand spokesperson: natural lease expiry, no outstanding matters) straitstimes.com
- Vulcan Post — "Hao Mart Shuts Stores as It Bleeds Millions & Faces Lawsuits", April 2026 (13 of 20 listed outlets confirmed closed; peak 51 stores December 2021, 20 by December 2024; FY2025 S$49.6 million loss, up from S$32.8 million FY2024 and S$23.2 million FY2023 following two years of profitability; in the red since 2023 per ACRA records; four pending High Court suits incl. dispute with landlord OG over termination of lease for flagship five-storey Taste Orchard mall on Orchard Road; ACRA enforcement action for failing to file annual returns within six months of FY end; FY2025 figures filed belatedly in January 2026; founded by Dr Tan Kim Yong in 2016, first store Block 74 Whampoa Drive) vulcanpost.com