http://www.channelnewsasia.com/stories/singaporelocalnews/view/1123665/1/.html
SINGAPORE: NTUC FairPrice on Tuesday celebrated the
opening of its 100th store at Serangoon Village.
To mark the occasion, it made a donation of S$10
million to Fair Price Foundation to enable the foundation to
continue providing a better life for the
community.
It is the largest single amount to be given in one
year to the foundation since it was set up in 2008.
The money will first be disbursed to various charities and other
organisations which will then disburse to beneficiaries comprising
mainly the low income workers and needy families.
Speaking at the ceremony, Deputy Prime Minister and Defence
Minister Teo Chee Hean said FairPrice remains an important pillar
in Singapore's economic and social defense.
He added that whenever there is a food crisis, the people can count
on Fair Price to moderate prices.
"First of all, with 100 over stores shows that FairPrice has good
outreach with the all sectors of the community, in particularly
those from the low income group who are looking for good
value.
"Secondly, FairPrice does provide good value and goes out of its
way to try and get the best value for the consumer. We have seen
many times during inflationary period, in times of crisis,
FairPrice has stepped forward to respond. It diversified resources,
it kept prices low and ensured continuity of supply."
FairPrice Foundation said it receives an average of 60 requests
from charities and organisations for funding every month.
It said it has disbursed over S$26 million to the community so
far.
- CNA/fa