Face Mask Profiteering : Be Prepared to be charged

Hands up if you have difficulty finding Surgical Mask.

We faced the same issue too. Despite the numerous trips to the neighbourhood Unity, Watson and Guardians, we always find the shelves empty. It does not help that we will see listings popping up on Carousell for masks to be sold. There were at least 500 listings over the past 3 days with multiple boxes to sell at a price that is 2-3 times the purchase price. Most of the listings are from individual flippers and not genuine retailers.

Here are some examples

Surgical Mask

N95

Thankfully, the government had decided to nip this in the bud with this announcement

“The Ministry of Trade and Industry said it will question retailers, including online platforms which have been selling masks at marked-up prices, to provide information on the cost price of the masks to them and their reason for the high pricing.

If they are found to be profiteering, action can be taken against them under the Price Control Act.”

This announcement is well-timed. Although there are ample stocks in Singapore as highlighted by Minister Lawernce Wong, it was difficult to get our hands on one. It makes matters worse when people decided to hoard the masks for unreasonable profit and exploit the supply chain.

For the record, the Government will be providing 4 free surgical masks to each household.

Here is how you can get them.

As for those who hoard masks with the intent to sell them at a ridiculous price, they will end up paying a much higher price in return. We checked the listings on carousell. There are at least 20 new listings since the announcement and most are still asking for a 300% mark up on average.

Nonetheless, we are beginning to see listings selling masks at cost. The message seems to start having its intended effect.

For every well-intended sale, there will always be black sheep. This post was up after the announcement selling mask at $15 per piece... a whopping 1000% increase in price.

We hope the authorities will enforce this as soon as possible. As a nation, we had an adequate supply, but if one chooses to abuse it for personal gains, it will derail this chain of supply.

Latest update: Carousell has responded with this notice. Hope they will enforce it!

Follow the timeline of the Wuhan Virus in Singapore here