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May 8, 2008

FairPrice's surpluses help poor and needy

I REFER to Tuesday's Forum comments, 'Cooperative advantage' by Mr Yeo Khee Quan. As a cooperative governed by the Cooperative Societies Act, NTUC FairPrice pays 20 per cent of our surplus every year to the Singapore Labour Foundation.

In addition, FairPrice gave out $14 million in dividends and about $26 million in rebates to members in the last financial year.

In addition to the low prices that FairPrice is offering, we also offer link points for members, discounts for senior citizens and discounts on housebrand items.

We are heartened to see that many of our customers find great value when they shop at FairPrice.

NTUC FairPrice is also committed to contributing part of its yearly surplus to the NTUC FairPrice Foundation to help the poor and needy in the community on a long-term basis.

Seah Kian Peng
Managing Director,
Singapore
NTUC FairPrice Cooperative Ltd