Citi Singapore has raised over half a million dollars for ChildAid for the third consecutive year, once more doing its part to help underprivileged children.

Donations from partners for a charity golf event and proceeds from an auction at a gala dinner on Friday night raised a total of $547,138 in funds.

Minister of State for National Development Desmond Lee, along with Citi senior management, as well as managing editor of Singapore Press Holding's (SPH) English and Malay Newspaper Division Han Fook Kwang, presented a mock cheque to ChildAid chairman Alvin Tay.

ChildAid is SPH's annual charity concert featuring talented young performers. It supports The Straits Times School Pocket Money Fund, which helps needy students with school-related expenses, and The Business Times Budding Artists Fund, which helps nurture the artistic talents of less privileged children. These serve 13,500 children this year.

Citi was the first to sign on as a major corporate sponsor in 2005, when ChildAid was first launched. It raised $570,000 for the concert in 2011, and $540,000 last year.