THREE companies have each given $100,000 to ChildAid, a charity concert performed by children to raise money for their peers.

The donations from Porsche dealer Stuttgart Auto, health supplement provider Cerebos and the New Creation Church are the largest single donations since ChildAid was set up in 2004.

The concert, which showcases some of the nation's best young musicians, supports The Straits Times School Pocket Money Fund and The Business Times Budding Artists Fund.

The organising chairman of ChildAid and the Pocket Money Fund Peter Khoo said fund-raising is a challenge in these tough times, but he is hopeful more donors will come forward.

The Pocket Money Fund gives money to needy children for school expenses, while the Budding Artists Fund supports needy students with artistic potential.

The Pocket Money Fund was asked to help 9,855 families in the first half of the year - 1,000 more than for the same period last year.

The fund, which hopes to help 11,000 families this year, has set its sights on raising $5.7 million for the year - its highest target since its inception in 2000. With nine months nearly gone, it has collected about $2 million so far.

Stuttgart Auto presented Straits Times editor Han Fook Kwang with a cheque for $100,000 at the launch of Porsche's Panamera four-door saloon yesterday.

He said: 'We are extremely grateful to Stuttgart Auto, Cerebos and New Creation Church for their generous donations. Many more children are coming forward during this economic recession to apply for financial assistance, so these donations are very welcome.'

This year's ChildAid concert will be held at Resorts World at Sentosa, from Dec 19 to 21.