SINGAPORE - Swiss investment bank UBS has marked its 50th anniversary in Singapore with a $500,000 donation to the Straits Times School Pocket Money Fund (STSPMF), to help children from low-income families with their schooling needs.
UBS Asia-Pacific president Edmund Koh has also made a personal donation of $500,000 to the same fund, said the bank on Tuesday (July 14).
UBS Singapore staff also contributed to a Giving.sg fund-raising campaign for STSPMF, which was matched by UBS Singapore to bring the sum to $51,985.
The donations come ahead of ChildAid 2020, which is organised by The Straits Times and The Business Times.
The concert will be held online for its 16th edition on Wednesday (July 15) from 8pm.
The annual show, which promises a cutting-edge, 360-degree immersive video experience this round, benefits STSPMF and The Business Times Budding Artists Fund.
The latter supports lessons in the performing and visual arts for financially disadvantaged children who are artistically talented.
"We hope more people will tune in to this first ever virtual ChildAid concert and generously donate to this meaningful cause to help fulfil the aspirations of our future generation in Singapore," said UBS' Mr Koh.
Separately, as part of UBS Singapore's anniversary commemorations, its staff also raised funds for The Food Bank Singapore and Beyond Social Services. Matching donations by the bank brought the sums to $54,336 and $35,000 respectively for the two charities.