Starting yesterday and lasting for three days, 350 HSBC staff led by the bank's Singapore chief executive officer, Guy Harvey-Samuel, will work together to improve the living conditions and create a conducive study environment at home for some 85 children from low-income households.

Many of these households have per capita incomes ranging from $100 to $450, with a number of them being single parent households.

Most of the homes are cluttered, with little space or proper furniture for the child to study. Some of these children also have learning difficulties due to dyslexia and attention deficit hyperactive disorder (ADHD), which makes it more challenging for them without a proper study area.

HSBC staff will springclean, paint and create a cosy study area. They will also provide new beds for children who do not have one, repair broken fixtures and do minor renovations such as plumbing works if required.

The cost of the furnishings for all the homes is about $50,000. As the name of the challenge suggests, the renovations in each child's home will be completed within a day.

Each child would receive an electronic dictionary and a $50 book voucher. Each household will also receive a hamper of groceries and daily necessities.

This project is in line with what HSBC has been doing in recent years, as they have been running learning and enrichment programmes for children from low-income households, who are facing academic difficulties. These programmes are conducted by HSBC staff who volunteer their time to tutor the children.

Through the years, they realised that a key reason resulting in the children's disinterest and difficulty in learning is the lack of a conducive study environment at home.

Mr Harvey-Samuel told BT: 'We hope that our efforts will serve to let the children know that there are people who care about their well-being and want to improve their learning environment, to help them in their studies and development.'

Their previous project in this series was done last year, where they refurbished one-room rental flats in the Henderson area for needy elderly, which raised $300,000 for elderly charities under the Community Chest.

In addition, HSBC is concurrently raising funds for the Straits Times School Pocket Money Fund. It is appealing to corporate partners to support its efforts by pledging a donation. Staff are also organising various activities such as sale of snacks and postcards to raise funds. The bank will match funds raised dollar-for-dollar before handing over the total to the Straits Times School Pocket Money Fund.