Originally posted by sbst275:
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