I think you can most prob get it cheaper at places like cathay (last i check was S$360).
FX3 is a most basic camera you can find for the FX series. I think it is very value for money considering you will get image stabilizier and 2.5" LCD.
I am using a FX9, it is a good camera for me because it is small enough for me to carry around everyday, takes good video and good photo at bright conditions, but in darker conditions, it is not that good and flash is not strong enough, but it fits my purpose.
So all in all, it is a good enough camera if you want to bring it around everyday with you and take good photos outdoor and good video. So if it fits your needs, it is good enuff for you.
i thought i saw the FX8 or FX9 going for $399 also at Harvey Norman or Best Denki (sorry, can't really recall which one)...a few months ago....so $399 for the FX3 may not be really attractive.