NTUC social enterprises coming together to benefit Singaporeans

Singapore, 8 July 2015 – NTUC social enterprises today launched the “Big Value Bag: Made for Singapore” programme worth $35 million to benefit people in Singapore. It comprises discounts and savings on daily essentials, cooked food, health products and insurance plans.

Said NTUC Secretary-General Chan Chun Sing, “NTUC social enterprises understand that cost of living is one of the major concerns among Singaporeans. They stand with Singaporeans and have come together as one to offer the “Big Value Bag: Made for Singapore” to help Singaporeans cope in practical ways. This package of deals and discounts will make essential products more affordable for our fellow Singaporeans, and enable them to make every cent count.”

BIG VALUE BAG MADE FOR ALL IN SINGAPORE

The “Big Value Bag: Made for Singapore” initiative will run for six months, from July till end December 2015. It is specially designed for Singaporeans from all segments of the population, such as the low-income, middle-class (PMETs), and the elderly, and aims to:

• Cut daily expenses for people in Singapore and make living more affordable
• Give more to the community and help them “stretch the dollar”;
• Make a difference and help those who need it most; and
• Make Singaporeans feel good about being Singaporean because the “Big Value Bag: Made in Singapore” is made for one and all in Singapore.

The contents of the Big Value Bag include:

1. Daily essentials sold at NTUC FairPrice supermarkets and hypermarkets:

NTUC FairPrice will provide a 10% discount on its extensive range of over 1,000 FairPrice, FairPrice Gold, Pasar, and Pasar Organic branded housebrand products. These essentials include staple foods and canned products, fresh and frozen foods, toiletries and household items.

The 10% discount of the “Big Value Bag: Made for Singapore” initiative is over and above the already lower-priced house brand products sold in NTUC FairPrice stores. Compared to other house brands in Singapore, NTUC FairPrice house brands are already sold at 10 – 15% lower than other popular brands.

Through the “Big Value Bag: Made for Singapore” initiative, daily essentials will be made even more affordable for one and all in Singapore. More examples of how different segments of the population can enjoy affordable daily essentials are at Annex A.

2. Cooked food sold at NTUC Foodfare outlets:

Coffee and tea will be sold from $0.60 at NTUC Foodfare coffee shops (and $0.70 at NTUC Foodfare food courts) throughout the day. This deal is particularly wide-ranging as it will impact most people who patronise coffee shops and food courts. For people who drink a few cups of coffee or tea a day, the savings can be palpable.

Other good deals from NTUC Foodfare include the All Day Set – chicken curry rice set at $2, sold at food courts, coffee shops, and rice garden stalls; and the Afternoon Tea Set consisting Big Pau (halal) and coffee or tea at $1.50 sold at all NTUC Foodfare drink stalls. See Annex B.

NTUC Foodfare aims to make everyday meals cheaper by pricing food popular with Singaporeans cheaper than normal, so everyone has the chance to enjoy the savings.

3. Good deals at NTUC Income:

NTUC Income will give $1,000 cash to those who graduated from local universities, polytechnics and the Institute of Technical Education over the last three years when they purchase any of the Regular Premium Life Policies (including any applicable riders) with a minimum annual premium of S$2,000 from 20 Jul to 31 Dec 2015. This move demonstrates NTUC Income’s concern for the future generation, and its intention to help our young people, who are just starting out in life, create a brighter future for themselves.

NTUC Income will also give $30 rebate to existing motorcycle insurance customers when they renew their policy between 1 Sep 2015 and 31 Aug 2016. During the same period, new motorcycle insurance customers will receive $30 shopping vouchers. This initiative is designed specially to reach out to 80,000 policyholders who ride for a living, and who can do with any assistance to help them moderate their living expenses. See Annex B.

4. Health supplements from NTUC Health’s Unity pharmacies:

NTUC Health will be offering customers a “buy three for the price of two” deal for the following Unity house brand supplements:

• Vitamin B Complex + C 60’s
• Glucosamine + Chondrotin 300’s
• Multivitamins & Minerals 60’s
• Multivitamins & Minerals Senior 60’s
• Calcium 600mg Plus 60’s
• Vitamin C 500mg Chewable 60s
• Vitamin C 1000mg + Zinc 10mg Effervescent 10’s x 3
• Vitamin B Complex Plus Effervescent 15’s x 2
• Omega3 Fish Oil 1000mg 180’s

These house brand supplements are already priced between 20 – 33% lower than national brands. With the “Big Value Bag: Made for Singapore” deal of three for the price of two, the savings to customers are even higher. This underscores the importance NTUC Health attaches to its role of enhancing Singaporeans’ health and well-being. Annex B has a table to show the supplements under this programme that are popular with the elderly and working adults.

NTUC SOCIAL ENTERPRISES ARE DIFFERENT FROM COMMERCIAL BUSINESSES

NTUC social enterprises exist to benefit Singaporeans, and to enable them to live better and more meaningful lives. Unlike commercial businesses, NTUC social enterprises are not driven by profits for shareholders. Undergirding the different businesses of NTUC social enterprises is the mission to drive social outcomes. Therefore, they are willing and prepared to accept lower profit margins so as to empower Singaporeans to afford essentials and stretch their dollar.

Said Mr Tan Suee Chieh, Group Chief Executive Officer, NTUC Enterprise: “NTUC social enterprises are committed to doing good for our Singapore society, and delivering meaningful social outcomes to Singaporeans every day. The “Big Value Bag: Made for Singapore” harnesses the collective strength of our NTUC social enterprises to address Singaporeans’ concerns in a very practical and pragmatic way – in our supermarkets, food courts, pharmacies, and insurance branches. We hope that with our “Big Value Bag: Made for Singapore”, we will enable all Singaporeans access to affordable essentials that will make their lives better”.

NTUC SOCIAL ENTERPRISES HAVE CAPACITY AND CAPABILITY TO HELP

NTUC Secretary-General Chan Chun Sing added: “NTUC social enterprises are professionally run and mission-oriented to deliver social outcomes. Hence, while they aim to achieve sustainability for their business, they will not maximise profit as an end in itself. Instead, they pump profits back into the businesses as well as create greater value for their customers.”

NTUC social enterprises have the capacity and capability to help all in Singapore live better lives. An integrated group, NTUC social enterprises cover a spectrum of fields including the daily essentials and cooked food, insurance, education for pre-schoolers as well as adults, and health. These cover major aspects of a Singaporean’s life, and aim to meet his/her needs throughout his/her life-cycle. This “Big Value Bag: Made for Singapore” initiative is but one of the ways that the NTUC social enterprises are doing to meet the needs of people in Singapore.

-End –

Annex A

INFORMATION SHEET ON EXAMPLES OF HOW DIFFERENT SEGMENTS OF THE POPULATION CAN ENJOY AFFORDABLE DAILY ESSENTIALS

	TYPICAL BASKET FOR THE ELDERLY
	CATEGORY	DESCRIPTION	UP ($)	BVB ($)
1	Rice	FairPrice Gold sup fragrant rice 5kg	12.80	11.52
2	Baby	FairPrice Baby wipes 200s	4.95	4.45
3	Baby	FairPrice 100% canola oil 2 litres	6.80	6.12
4	Bread	FairPrice Wholemeal bread 300g	1.15	1.03
5	Condiments	FairPrice Nonya kaya 250g	2.20	1.98
6	Prepacked food	FairPrice Tau kwa 2’s 400g	0.95	0.85
7	Dairy spread	FairPrice Olive oil spread 375g	4.70	4.23
8	Fruits	Pasar HK papaya (m)	2.00	1.80
9	Vegetables	Pasar Prepacked carrots 500g	0.89	0.80
10	Eggs	Pasar Fresh egg 10s 55g	1.50	1.35
11	Poultry	Pasar Kampong chicken (halal) 900g	7.40	6.66

Annex B

INFORMATION SHEET ON NTUC FOODFARE, NTUC INCOME AND NTUC HEALTH’S OFFERINGS FOR DIFFERENT SEGMENTS OF THE POPULATION

NTUC Foodfare discounts to make everyday meals cheaper so everyone has the chance to enjoy the savings.

FOOD AND BEVERAGE ITEMS	NTUC FOODFARE OUTLETS
All Day Coffee and Tea at $0.60	NTUC Foodfare coffee shops
All Day Coffee and Tea at $0.70	NTUC Foodfare coffee shops
All Day Set – chicken curry rice set at $2	NTUC Foodfare food courts, coffee shops, and rice garden stalls
Afternoon Tea Set (Big Pau (halal) and coffee or tea at $1.50	NTUC Foodfare drink stalls

NTUC Income deals to help young people who are just starting out in life to create a brighter future for themselves, and for the 80,000 motorcycle insurance policyholders to help them moderate their living expenses.

FOR FRESH GRADUATES	FOR MOTORCYCLE RIDERS
$1,000 cash for fresh graduates* who purchase the Regular Premium Life Policies (including any applicable riders) with a minimum annual premium of S$2,000 from 20 Jul to 31 Dec 2015.
*Fresh graduates refer to Singaporean citizens who have graduated from local universities, polytechnics or ITEs within the past three years from the date of submission for the Applicable Policy.	$30 rebate to existing motorcycle insurance customers when they renew their policy between 1 Sep 2015 and 31 Aug 2016.

NTUC Health (NTUC Unity pharmacy) offer health supplements popular with the elderly and working adults

FAVOURITES WITH ELDERLY	FAVOURITES WITH WORKING ADULTS
Glucosamine + Chondrotin 300’s	Multivitamins & Minerals 60’s
Multivitamins & Minerals Senior 60’s	Vitamin C 1000mg + Zinc 10mg Effervescent 10’s x 3
Calcium 600mg Plus 60’s	Vitamin B Complex Plus Effervescent 15’s x 2
Vitamin C 500mg Chewable 60’s	Omega3 Fish Oil 1000mg 180’s
Vitamin B Complex + C 60’s
Omega3 Fish Oil 1000mg 180’s