1. Press releases
Minister of State Lee Yi Shyan appointed as Chairman of the Committee Against Profiteering
9 January 2007
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MINISTER OF STATE LEE YI SHYAN APPOINTED AS CHAIRMAN OF THE COMMITTEE AGAINST PROFITEERING
Minister of State for Trade and Industry Lee Yi Shyan has been appointed Chairman of the Committee Against Profiteering (CAP) with effect from 1 January 2007. He takes over the appointment from Mr Chan Soo Sen.
Fifteen other members have been appointed to the committee. The members comprise Members of Parliament, industry representatives and grassroots leaders. (Please refer to Annex for the list of committee members.)
The CAP was first set up in 1994[1] to look into complaints and feedback on profiteering or unjustified price increases using increases in the Goods and Services Tax (GST) as an excuse.
With Singapore’s open economy, market competition will generally serve as a check on excessive price increases. Organizations such as the Consumers Association of Singapore (CASE) also help to advance consumers’ interests by educating consumers, promoting an environment of fair and ethical practices, and investigating unscrupulous businesses and practices.
The CAP will complement the work of existing consumer organizations. It will focus on feedback concerning unjustified price increases attributed to the GST increase. The CAP will work closely with CASE, industry associations and grassroots organizations to look into complaints. It will also work with these bodies to promote good business practices with regard to the GST increase, and to educate the public so that consumers can choose to avoid patronizing errant businesses.
Members of the public can continue to provide feedback to the CAP via its website (www.cap.org.sg) or email (feedback@cap.org.sg).
MINISTRY OF TRADE AND INDUSTRY
8 JANUARY 2007
[1] Formerly known as the Committee on Profiteering and Inflation.
Annex
Composition of Committee Against Profiteering
Table caption
Chairman | ||
|---|---|---|
1 | Mr Lee Yi Shyan (李奕贤) | Minister of State for Trade and Industry |
Members | ||
2 | Mr Chiam See Tong (詹时中) | Member of Parliament (MP), Potong Pasir |
3 | Mr Low Thia Khiang (刘程强) | MP, Hougang |
4 | Mrs Josephine Teo (杨莉明) | Director (Human Resources), NTUC / MP, Bishan-Toa Payoh GRC |
5 | Mr Yeo Guat Kwang (杨木光) | President, CASE / MP, Aljunied GRC |
6 | Mr Chua Ser Keng (蔡思敬) | Chairman, Federation of Merchants Association |
7 | Mr Thomas Chua Kee Seng (蔡其生) | Chairman, General Affairs Committee, Singapore Chinese Chambers of Commerce and Industry |
8 | Mr Foo Jong Peng (符永平) | Chairman, Kheng Keow Coffee Merchants, Restaurant & Bar-Owners Association |
9 | Mr Tan Kian Chew (陈建秋) | Group CEO, NTUC Fair price Co-operative Limited |
10 | Dr Jannie Tay (曾秀丽) | President, Singapore Retailers Association |
11 | Mr Raymond Kwok (郭忠仕) | Chairman, Taxpayer Feedback Panel |
12 | Mr Ong Beng Lee (王明理) | Chief Executive, Competition Commission of Singapore |
13 | Mr Lim Keng Soon (林庆顺) | Business Desk Correspondent, Lianhe Zaobao |
14 | Mr Khoo Hock Khim (符福金) | Chairman, Kampong Chai Chee Citizens’ Consultative Committee (CCC) |
15 | Mr Shaik Aziz Shaik Mohideen | Assistant Secretary, Whampoa CCC / Vice-Chairman, Whampoa Community Centre Management Committee (CCMC) / Member, Whampoa Indian Activity Executive Committee (IAEC) |
16 | Mdm Mariah Bte Ahmad | Member, Nanyang CCC/ Assistant Treasurer, Nanyang CCMC / Secretary, Nanyang Zone 3 RC / Chairman, Nanyang Malay Activity Executive Committee (MAEC) |