Financial services firm Citi Singapore has raised more than half a million dollars for ChildAid, an annual charity concert.

The $540,000 will go to beneficiaries of The Straits Times School Pocket Money Fund, and The Business Times (BT) Budding Artists Fund, both of which are charities supported by ChildAid.

The sum, to be split between the two charities, was contributed partly by Citi's partners, including IT solutions provider EMC, IBM and Hitachi Data Systems.

A $500,000 cheque was presented on Friday night by Citi Asia Pacific's chief information officer Paul McCarroll to BT editor Alvin Tay at the Tanah Merah Country Club, with $40,000 to follow.

ChildAid, a charity concert that showcases local and regional young musical talents, was launched in 2005.