19-02-2025, 02:46 PM
Foreign businesses in Singapore benefit from CDC vouchers in several ways:
1. Supply Chain Domination
Even when vouchers are spent at local retailers (e.g., NTUC FairPrice, Sheng Siong, Giant), many products come from multinational corporations (MNCs) such as:
Food & Beverages: Nestlé, Unilever, Coca-Cola
Personal Care: Procter & Gamble, Johnson & Johnson
Household Products: Reckitt, SC Johnson
This means that while local supermarkets process the transaction, a significant portion of the revenue ultimately flows to foreign firms.
2. Large Retailers with Foreign Ownership or Partnerships
Some big retail chains that accept CDC vouchers may have foreign ownership or business partnerships. For example:
Giant (owned by Dairy Farm International, which is linked to the Hong Kong-based Jardine Matheson group)
Cold Storage (previously under Dairy Farm International, now under DFI Retail Group)
These corporations benefit as CDC vouchers increase consumer spending at their outlets.
3. Imported Goods Even in Heartland Shops
Even small local businesses often sell imported goods. When customers use CDC vouchers to buy imported products, the profits partially flow to foreign manufacturers.
4. Digital Payment Processing Fees
If CDC vouchers are processed through digital payment platforms (e.g., PayNow, GrabPay), transaction fees may go to financial institutions, some of which are foreign-owned.
5. Franchise & Licensing Fees
If CDC vouchers are spent at franchise chains (e.g., McDonald's, KFC, Starbucks), a portion of the revenue goes to foreign parent companies in the form of royalties or licensing fees.
1. Supply Chain Domination
Even when vouchers are spent at local retailers (e.g., NTUC FairPrice, Sheng Siong, Giant), many products come from multinational corporations (MNCs) such as:
Food & Beverages: Nestlé, Unilever, Coca-Cola
Personal Care: Procter & Gamble, Johnson & Johnson
Household Products: Reckitt, SC Johnson
This means that while local supermarkets process the transaction, a significant portion of the revenue ultimately flows to foreign firms.
2. Large Retailers with Foreign Ownership or Partnerships
Some big retail chains that accept CDC vouchers may have foreign ownership or business partnerships. For example:
Giant (owned by Dairy Farm International, which is linked to the Hong Kong-based Jardine Matheson group)
Cold Storage (previously under Dairy Farm International, now under DFI Retail Group)
These corporations benefit as CDC vouchers increase consumer spending at their outlets.
3. Imported Goods Even in Heartland Shops
Even small local businesses often sell imported goods. When customers use CDC vouchers to buy imported products, the profits partially flow to foreign manufacturers.
4. Digital Payment Processing Fees
If CDC vouchers are processed through digital payment platforms (e.g., PayNow, GrabPay), transaction fees may go to financial institutions, some of which are foreign-owned.
5. Franchise & Licensing Fees
If CDC vouchers are spent at franchise chains (e.g., McDonald's, KFC, Starbucks), a portion of the revenue goes to foreign parent companies in the form of royalties or licensing fees.