FairPrice has attempted to expand into other countries. In 2003, it entered a joint venture with DBS Private Equity, New Hope Group, Silver Tie and Taiwan's Apex Group, known as Nextmall. The venture provided merchandising, management and logistics for a fee to Nextmart which is a China incorporated hypermarket. Seven hypermarkets were opened in China, with its first in Shaoxing, Zhejiang. Nextmall closed in 2005 after incurring a total of $80 million in debts and over $40 million in losses. A supermarket in Vietnam was opened in 2013 under a joint venture with Saigon Union of Trading Co-operatives, known as Co.opXtra Plus. FairPrice also operated Cheers convenience stores in Vietnam as of 2018.