I think you weren't born yet, when this picture was taken. The building with the Chinese Pagoda-like roof on the right became, OCBC HQ Chulia Street, there was a Ban Hin Lee Bank near there & that Chulia Street Portion was called " San Chai Tang" was a bus depot & a public toilets. To the left in the foreground, the building with the flagstaff is Asia Insurance Building.
Coolies, load & unload rice, grains etc..from the bumboats, it was interesting to watch, how they navigate the tight space at the riverside, docking the bum boats.
This was the time, when life was simple, not necessary easy, people have to work hard for their money & the government looked after them. ( PAP), now thy look for our wallets!