SINGAPORE - A semiconductor manufacturing company decided to mark its 100th board meeting on Thursday (Dec 3) by donating $100,000 to The Straits Times School Pocket Money Fund (STSPMF).

Silicon Manufacturing Partners (SMP) chose to donate to STSPMF this year as part of efforts to support the SG Cares Giving Week campaign, which ends next Monday.

SMP, which was formed in 1997, is a joint venture between semiconductor manufacturers Globalfoundries Singapore and Broadcom, and it operates a wafer fabrication plant in Woodlands.

In previous years, Globalfoundries Singapore lent its support to charities like Children's Cancer Foundation, among others.

SMP chairman Kay Chai Ang said the firm donated to STSPMF this year, as it was impressed with the fund's efforts, and shared its commitment to ensuring children and young people from disadvantaged homes get the help they need.

STSPMF disburses more than $6 million yearly to 10,000 beneficiaries - from primary school pupils to students of the Institute of Technical Education, junior colleges and polytechnics.

Mr Ang said: "We want to ensure children in need have the capability to achieve the best for themselves and give back to the community in the future."

He added that more than ever, STSPMF beneficiaries are in need of help, given the challenges brought on by the Covid-19 pandemic.

Mr Ang called on more people and organisations to come forward to get involved in charitable work and help those who are in need.

STSPMF general manager Tan Bee Heong said the fund was thankful to receive the donation and to have a new generous partner join its cause.

She said: "We are very blessed to see such generosity despite the tough economic situation we are in."