The Labour Movement today unveiled a new set up called NTUC Enterprise Co-operative Limited (NTUC Enterprise) to assist its 12 Social Enterprises (SEs) meet working families’ growing needs for affordable, quality products and services.
The 12 NTUC SEs are made up of: NTUC Choice Homes; NTUC Eldercare; NTUC FairPrice; Mercatus; NTUC First Campus; NTUC Foodfare; NTUC Income; NTUC Investment (operating NTUC LearningHub); NTUC Link; NTUC Media; NTUC Thrift & Loan; and NTUC Unity Healthcare.
NTUC Enterprise Co-operative will focus on two key areas: First, it will work closely with individual NTUC SEs to create even more value for customers and deliver greater social impact by increasing the affordability, quality and accessibility of existing and new areas of core needs provided by the family of 12 NTUC SEs.
Second, NTUC Enterprise Co-operative will lead NTUC SE group-wide efforts to increase financial resilience and develop talent that will be essential for the sustainable, long-term development of the SEs.
NTUC Enterprise has been formed by NTUC, the Singapore Labour Foundation (SLF) and unions affiliated to both NTUC and SLF.
The Board of NTUC Enterprise Co-operative will be chaired by Mr Lim Boon Heng, with directors nominated by NTUC, SLF and unions.
“NTUC Enterprise institutionalises the strategic partnership between NTUC, SLF and the unions to support the NTUC Social Enterprises to do even more for working families.
“This is in line with the NTUC SE2015 vision to scale up NTUC Social Enterprises rapidly to meet social needs. NTUC Enterprise will steward the long-term development of the NTUC Social Enterprises, focusing especially on developing greater social impact, and the financial and human resources required,” said NTUC Enterprise Chairman Lim Boon Heng.
