Channel NewsAsia - 55 minutes
ago
SINGAPORE: NTUC FairPrice may set up new stores or have special
corners at its current stores to stock cheaper items for the
low—income group.
At the launch of the NTUC FairPrice Foundation on Monday, the
co—operative said this could be one response to rising food prices,
and it is still studying how feasible this will be.
NTUC FairPrice Foundation chairman Ng Ser Miang said: "Because
of (the) rising food prices, we are looking at whether there is
some effective way where we can set up another format that would
serve the low—income group. Or we will take a different strategy of
(assigning)... one section in our current format that will serve
(them)."
Details have yet to be confirmed, but new stores or facilities
could be set up as soon as next year.
"Depending on how fast we can sort of (make) a decision on the
right mix of products and the right type of stores we should be
going into," Mr Ng said.
The supermarket chain is pledging S$50 million over the next ten
years to its foundation.
To mark the launch of NTUC FairPrice Foundation, it is giving
S$1 million to four beneficiaries — the Community Chest, the
Eldercare Trust, the Food from the Heart and the NTUC Childcare
Bright Horizons Trust Fund.
The NTUC FairPrice Foundation said in future, it will issue
grants to organisations only if they have three strategic thrusts —
to help the poor and needy, to help in nation building and
community bonding, and to advance the welfare of workers. —
CNA/ac