He spends $14,500 on bottle of wine

HE PAID $14,500 for a bottle of wine which he finished by himself in less than two hours.

Mr Cheong, a 32-year-old who works in the motorsports industry, ordered a rare vintage bottle of Chateau Petrus 1990 at Mezza9 at the Grand Hyatt last June during a dinner with his wife to celebrate their wedding anniversary. His wife had champagne.

Said Mr Cheong: "I can't find the words to describe the aroma. It's beyond exquisite. Mr Cheong said he enjoys the wines on his own expense as he doesn't usually entertain corporate clients.

He said: "What is the point of working so hard if you don't pamper yourself and enjoy life?" On special occasions, he has spent up to $30,000 for a dinner with his wife and son, 7, at the Mezza9 at the Grand Hyatt.

For some individuals, this sort of spending is not so much for face value, but a personal enjoyment and a lifestyle they have grown accustomed to and appreciate, said Mr Mohan Nainan Nainan, in his 50s, the chief executive officer of home-grown wine-investment company Assetton.

Priceless experiences

He had a client this year order one case of wine, valued at $20,000 per bottle, for his own drinking pleasure on special occasions.

"They are paying for an opportunity for an experience that is priceless, such as drinking a rare vintage wine, or eating at a Michelin-starred restaurant," said Mr Mohan.

Mr Derrick Lim, 42, chairman of CreateSoft Group which is in the IT business, is another person who is willing to spend top dollar to pursue his love for seafood and coffee.

He has read up extensively on how abalone is harvested and feels he is getting his money's worth when he dines at a local seafood restaurant on Japanese abalone priced at $888.88.

That's for a single serving of one fist-sized abalone.

Broker Joshua Tan, 25, who owns his own trading firm, is also a self-professed foodie who goes to Kuala Lumpur to dine at restaurants which feature Michelin-starred chefs.

In Singapore, he has a standing weekly reservation at Jaan, the French fine dining restaurant at the Swissotel where a five-course dinner costs around $300 per diner. He spends up to $8,000 on food and entertainment monthly, but says it is within his means.

At the Grand Hyatt, Mr Christian Gertner, the executive assistant manager of food and beverage said the hotel has consistently sold about two or three bottles of wine in the five-figure price range each year. Overall, business was still brisk despite the economic downturn.

"Instead of ordering a $300 bottle of wine, they may order one which costs $150," he said. It seems the number of visitors generated by the integrated resorts has also benefited the food and beverage services industry.

The director of food and beverage at Swissotel, Mr Nigel Moore said that while 2009 was a relatively slow year as a result of the global financial downturn, the hotel has enjoyed "significant spill-over business opportunities" from visitors to the integrated resorts.

But being willing to pay top dollar may not always secure the order.

Copthorne King's Hotel food and beverage director Mr Gan Wong, 49, had to turn away four customers who ordered its tengara fish, which costs about $580 for a 1kg fish. He said that on some days, it is impossible to get even one fish because the supply is so limited.

Said Mr Wong: "Companies which cut back on corporate entertainment last year now want to show their appreciation to their clients and partners.

Mr Pung Lu Tin, 50, of Seafood International, a restaurant at East Coast, said the difference can be felt from the enquiries he has received for corporate dinners for the coming Chinese New Year. Said Mr Pung: "Last year, most went for menus which cost around $400 a table. Right now, the customers want our high-end menus, which cost $1,288 per table. It's about company image and reputation."