SINGAPORE - A retailer that came under scrutiny for profiteering from the sale of face masks has lowered the price of the masks and apologised, the Ministry of Trade and Industry said on Tuesday .
"MTI will continue to monitor 3 Stars' pricing practices and reserves the right to take further action under the Price Control Act if warranted," the ministry said.The pricing had prompted public complaints. On Feb 10, the MTI issued a letter of demand to the company compelling 3 Stars to submit documents explaining its prices, including cost prices and profit margins, but unsatisfactory responses led the ministry to inspect its warehouse and retail outlets a week later, on Feb 17.
"We remind all businesses to exercise corporate social responsibility and not take advantage of the Covid-19 situation," it added.
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