The Straits Times School Pocket Money Fund received a boost yesterday with a $500,000 donation from United Overseas Bank (UOB).
The amount was part of $1.16 million the bank raised for charity at its Chinese New Year dinner at Pan Pacific Hotel in February - the largest sum to date at UOB's annual event. Of the amount, $250,000 came from the bank.
Ms Rosalind Lee, UOB Group Commercial Banking's managing director, said: "We are pleased to contribute, as UOB is committed to providing less privileged children with opportunities to learn and to develop their talent."
The Straits Times School Pocket Money Fund, which started in 2000, supports children from low-income families by providing them with pocket money that they can use for school-related expenses such as buying food during recess.
Straits Times editor Warren Fernandez, chairman of the fund, said: "It's always a huge challenge to raise funds to meet the needs of our beneficiaries. I am grateful for the very generous donation made by UOB , as it will go a long way in helping the children in need."
Other beneficiaries of the $1.16 million raised by UOB are The Business Times Budding Artists Fund which helps young people from underprivileged backgrounds pursue training in the arts, Touch Ubi Hostel, and Willing Hearts, a soup kitchen.
UOB's dinner at Pan Pacific Hotel, which had a dragon dance performance by the bank's senior staff, was part of its Chinese New Year outreach programme.
Sixty UOB employees and more than 30 local corporate chiefs who are the bank's clients also spent six hours preparing 5,000 meals at the Willing Hearts' soup kitchen in February. The hot meals were distributed to the elderly and needy in Circuit Road, Geylang Bahru and North Bridge Road.
UOB's clients who were involved in the cooking and distribution of the meals also provided transport and donated food items.