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THE Singapore Symphony Orchestra (SSO) normally delights audiences with its music. Now, here is some news that is music to its ears - it has received $1.5 million from Malaysian banking and securities firm CIMB-GK Securities Private Limited. The donation was made at the Conrad Centennial last night during a dinner ceremony. Senior Minister Goh Chok Tong was the guest of honour.
This is the single largest donation received by the orchestra in its 29-year history. Previously, the largest donation was $820,000 from electrical, engineering and automation solutions firm Siemens Private Limited in January.
The idea for supporting the SSO was mooted last year, when CIMB acquired the stockbroking operations of Singapore's GK Goh Holdings. These stockbroking businesses became CIMB-GK.
On the suggestion of Mr G.K. Goh, chairman of GK Goh Holdings and also chairman of SSO's Endowment Committee, CIMB took up the opportunity to forge a meaningful partnership with one of Singapore's finest arts organisations.
CIMB Group chairman Tan Sri Dato Md Nor Yusof, 60, says the donation was made because 'the commitment and energy which the SSO displays are the very qualities that CIMB values'.
The orchestra's yearly expenditure is $15.5 milllion. While it gets $9 million in the form of government grants, the balance has to be raised through fund-raising efforts and concert ticket sales.
SSO chairman Cham Tao Soon, 68, explained: 'The problem confronting all world-class orchestras is the need for additional funds. We need funds to attract good conductors and soloists. But we can't build an orchestra with just big names. We need to have the ability to attract, retain and value-add to our existing talent.'
The $1.5 million from CIMB-GK will be used over a period of three years. Apart from being channelled into the orchestra's existing activities, it will also be used to support young musicians.
Established in 1979, the SSO performs over 50 symphonic programmes a year. It has grown from a 40-member orchestra to an organisation of 95 full-time professional musicians. Having played concerts across the world and put its music on CDs, it has helped place Singapore and South-east Asia on the world classical music map.
This is not the first time that an arts group has received funding on this scale. In January, Ngee Ann Kong Si, the community trust of the Teochew clan association here, gave $12 million to the Singapore School of the Arts.
deepikas@sph.com.sg
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