SINGAPORE - The Singapore Badminton Association (SBA) received a boost of $500,000 in cash on Tuesday, thanks to the backing of a group of 23 local businesses.
Singapore-listed real estate developer OUE, also the title sponsor of the Singapore Open, was the biggest contributor with $200,000.
The rest of the sum comes from businesses that include Charles & Keith, Scanteak and Jumbo Group of Restaurants.
The funds were a result of fundraising efforts by Luke Lim, group chief executive officer of local branding company Louken Group.
He said: "We firmly believe that a key part of doing business is giving back to the community and this is one way of doing just that. This is, hopefully, the start of a new movement in getting the business community together to support our local sports and its talents."
SBA president Lee Yi Shyan was at a Community Fund Raiser Event at Temasek Club on Tuesday evening to receive the cheque from Lim.
Proceeds of the launch of the book Brand Bull Run, launched on Tuesday evening at the event, will also go towards the SBA's player development programmes.
Said Mr Lee, a Member of Parliament for East Coast GRC: "Together we hope more people will play badminton and more of our players will excel at international tournaments."