NTUC FairPrice to run China hypermarts

NTUC FairPrice, the supermarket arm of Singapore’s National Trade Union Congress, in partnership with DBS Private Equity, will reportedly take a controlling stake in a joint-venture company that will help run hypermarts in China.  

According to a Singapore Business Times report, the joint venture, to be called Nextmall, will provide merchandising, management and logistics services to a newly-formed China-incorporated hypermart operator, Nextmart. The Chinese partners are New Hope Group, Silver Tie and Taiwan’s Apex Group.