United Overseas Bank (UOB) donated $16.6 million to local charities supporting people with special needs, children and the elderly on Friday to celebrate its 80th anniversary.
The bulk of the money will go to the Community Chest with $11.8 million to help people with disabilities, and $2 million to the Care & Share Movement which will be disbursed to voluntary welfare organisations working with the elderly.
The remaining funds will be disbursed to the PAP Community Foundation and other organisations supporting art, children and education. The donation is in addition to $3.57 million the bank donated to the Community Chest earlier in the year.
UOB said its combined gift of $17.37 million to the Community Chest and Care & Share Movement is the biggest by a private entity donor this year.
Mr Wee Ee Cheong, UOB's deputy chairman and chief executive, said: "As we celebrate how far we have come as a bank and as a nation, we are grateful to those who have helped play a part in our development, in particular, the many who are entering their twilight years.
"At the same time, we want to show our continued support for those with special needs and disabilities. By working together with the Community Chest and other charitable organisations, we believe we can touch the lives of those in need."
Kok Xing Hui