SINGAPORE - The National Gallery Singapore has received a $5m donation from hedge fund manager Danny Yong, its largest individual cash donation to date. The Gallery announced this on Monday (Nov 9), ahead of its opening on Nov 24.
The $5m will be used to fund the art acquisitions for the national collection of the Gallery.
Mr Yong, 43, is a chief investment officer and founding partner of Dymon Asia.
He said in the media release: "Art is an area that has been overlooked in the past in terms of how it can improve the quality of our lives. I am glad that National Gallery Singapore is taking on the responsibility to strengthen our art consciousness. I hope that more people will find it meaningful to gain deeper insights into our region's art histories via the iconic artworks displayed at the Gallery."
The Gallery, which has garnered a string of high-profile corporate sponsors such as DBS Bank, UOB Bank and Keppel Corporation, also has 20 other individual donors besides Mr Yong.
"We are deeply grateful for Mr Danny Yong's patronage. His belief in improving the quality of life via art resonates with how we intend to make art accessible," said Mr Kola Luu, the Gallery's director of business and corporate strategic development group.
"The extent of his generosity also signals a significant shift in how more corporations and individuals are doing their part to grow a museum-going culture in Singapore by encouraging a new generation of art lovers," Mr Luu added.
A painting in the UOB Southeast Asia Gallery, Forest Fire by Indonesian artist Raden Saleh, has been adopted in honour of Yong Hon Kong Foundation, which Mr Yong set up in memory of his late father.