The junction of Collyer Quay and Battery Road. The building on the right is no longer there and is where the present day HongKong and Shanghai Bank Building is sitting. The picture is taken across the street from Fullerton Building (The previous old Singapore General Post Office). You can just make out the Quay on the left.
With thanks to Harold Hee for the location information.
File No._singapore_bw_print_1950_05