SINGAPORE: All 350 employees of the Singapore Turf Club will be retrenched in phases, with the first round taking place in about 16 months as the club prepares to hand 120 hectares of land back to the government in 2027.
Around 700 horses will be exported and the last race will be held on Oct 5, 2024.
The Ministry of Finance (MOF) and Ministry of National Development (MND) said in a joint press release on Monday (Jun 5) that spectatorship for local horseracing has declined over the years and the land in Kranji can be redeveloped to better meet Singapore’s future land use needs.
The site will be used for housing and other potential uses, including leisure and recreation.
Singapore Turf Club will close its facility by March 2027.
“Over the next three years, Singapore Turf Club will engage with stakeholders and address their respective needs,” the club said on Monday.
“A phased approach based on business needs will be deployed to ensure the continuation of successful operations and a smooth handover.”
Singapore Turf Club president and chief executive Ms Irene Lim said: “During this time, affected employees and those working within the horse racing community will have ample time to consider their career options and manage their personal commitments.”
The club added that employees will receive support during the transition, including a retrenchment package, personal career guidance and skills-training courses.
Chairman of Singapore Turf Club Niam Chiang Meng said staff were informed about the closure on Monday morning.
“Generally, the atmosphere is one where they are all very saddened by the decision to close down the club,” he said at a press conference.
“We will continue running (and) ensure a smooth transition for everyone, including the employees, the horse owners, and all the other stakeholders that are involved.”
RACEHORSES TO BE EXPORTED
Around 700 horses from the club’s horse racing operations will be exported and 2026 is the target for that move to be completed, said Second Minister for Finance and for National Development Indranee Rajah.
Mr Niam added that there are 38 livery horses at the club’s racecourse. A livery yard is a stable where horse owners can keep their animals for a fee.
MOF and MND said racehorse trainers and owners will receive support for horse maintenance and exportation.
For other affected stakeholders, such as Singapore Turf Club tenants and livery horse owners, the club will continue to honour its existing contractual obligations, the joint press release said.
