According to an update by the Ministry of Trade and Industry (MTI) on Feb. 25, Singapore retailer 3 Stars has cooperated with the inspections at its company headquarters, warehouse, and multiple outlets.

The inspections were carried out on Feb. 17:

MTI conducted the inspections after it received numerous complaints from members of the public that 3 Star was allegedly profiteering from the sales of masks.

The masks by 3 Stars were initially priced between S$6 to S$14.

Increased cost price

During the inspection, 3 Stars submitted records and invoicing showing significant increases in the cost price of face masks from overseas suppliers.

The retailer has also apologised and reduced the prices of their masks.

No further action

Following the inspections, MTI will not be taking any further action against 3 Stars at this time.

Here's part of a statement from MTI:

"In view of 3 Stars’ apology and reduction in prices for masks, and the fact that the source prices of face masks have risen significantly globally, no further action will be taken at this time. MTI will continue to monitor 3 Stars’ pricing practices and reserves the right to take further action under the Price Control Act if warranted."

Top image from Mothership reader