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It has been 40 years since FairPrice embarked on our journey
as a social enterprise to moderate the cost of living. Four
decades on, our commitment to our social mission remains
strong, we continue to provide our customers with quality
products at best value, and delivering service from the heart.
The road travelled had been an eventful one, right from the establishment of our first store
in 1973 amidst the turbulent oil crisis. The journey had also given us the opportunity to play
an essential role in providing stability in our pricing, and buffering Singaporeans against price
fluctuations of daily necessities in times of uncertainties such as during the Asian financial crisis
(1997), the avian flu outbreak (2004) and the global financial crisis (2008), to name a few.
While having experienced the most trying of times, we are also thankful for the best of times. We
have garnered many accolades, and in the past year alone, FairPrice was accorded the Singapore
Prestige Heritage Brand Award, the Special Rochdale Award, among other recognitions and it
continues to score the highest ratings in the supermarket retail category benchmarked by the
Customer Satisfaction Index of Singapore. These achievements would not have been possible
without our customers’ support and trust.
In celebration of our 40
th
anniversary, FairPrice has announced that it is giving out S$40 million or
S$10 million each to our key stakeholders: (i) the Labour Movement to help advance the welfare
of workers, (ii) customers via rebates to thank them for their support, (iii) employees for their
dedication, and (iv) extra aid for the less privileged in the community to lighten their burdens.
SHARING THE EFFORTS OF OUR JOURNEY
In FY 2012/2013, we continued to perform strongly. Total group revenue peaked at S$2.8 billion,
while group profit from operations before finance costs and rebates was S$185 million. Without
factoring the exceptional non-trading gain experienced in FY 2011/2012, profit from operations
was S$7 million higher than the last year. This increase was due to higher investment income which
helped to offset the lower retail profit due to higher operating expenses. After contributions to
the Central Co-operative Fund and Singapore Labour Foundation, the group’s total net profit was
S$111.9 million.
Joint Message
from Chairman and Group Chief Executive Officer
T houghts from the road
From left
MR NG SER MIANG
Chairman
MR TAN KIAN CHEW
Group Chief Executive Officer
