But the sport has plenty of reasons to look forward, starting with $1,010,988 raised through a fund-raising dinner at the Grand Copthorne Waterfront Hotel tonight.

That amount, in such uncertain economic conditions, impressed guest-of-honour Prime Minister Lee Hsien Loong.

'The response was very encouraging.. to be able to raise $1 million, it shows there's enthusiasm, there's support,' he told The Straits Times.

Donations ranged from $500 to $500,000, with the Lee Foundation making the biggest contribution.

As a result, STTA's training hall at Toa Payoh will be named after the foundation.

The Straits Times understands that Mr Lee also made a contribution.

With the total funds raised far exceeding the original target of $500,000, Ms Lee was understandably delighted.

'At first, I was quite concerned because in November, the market sentiment was very bad,' she said. 'In the current economic downturn, these funds will provide STTA the much needed financial resources to carry out these strategic initiatives.'

The objectives of the fundraising were two-fold - develop local youth talents and to create a scholarship fund aimed at looking after the welfare of retired national players.

Ms Lee said: 'There is a heavy responsibility on our shoulders now. We have to make sure that we reach our objectives and do not disappoint our supporters.'