SINGAPORE - Investment holding company Tang Holdings on Tuesday donated $300,000 to The Straits Times Pocket Money Fund. The Straits Times Pocket Money Fund helps needy schoolchildren with school-related expenses.

The amount was part of the $1million Tang Holdings donated to charity to mark the 20th anniversary of its building, Tang Plaza, at Orchard Road.

The iconic building, which has a tower topped by a roof like that in a pagoda, houses the company's office as well as Singapore Marriot Tang Plaza Hotel.

The other recipients of the donation are the four ethnic self-help organisations - The Chinese Development Assistance Council (CDAC), Mendaki, The Singapore Indian Development Association (Sinda) and The Eurasian Association.

The CDAC, Mendaki and Sinda received $200,000 each and the Eurasian Association received $100,000.

Executive chairman of Tang Holdings, Mr Tang Wee Kit, said the donation marks Tang Plaza's 20th anniversary and is in line with its late founder, Mr Tang Choon Keng's values.

"Mr Tan Choon Keng always reminded us to live our lives with honesty and integrity, and to care for the less fortunate."