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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 (MTI) said on Tuesday (Feb 25).
The retailer 3 Stars has also produced records and invoices showing significant increases in the cost price of face masks from its overseas suppliers, the MTI said, adding that it will not be taking further action against the company for now.
“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.
It did not say in its statement how much the retailer had lowered the price of its masks by.
The pricing had prompted public complaints.
MP Louis Ng on Feb 8 posted on Facebook a photo of a box of masks sold by 3 Stars going for $138 in his Nee Soon constituency.
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