Saturday, February 20, 2010

CapitaLand to give $5m to children in need

CAPITALAND yesterday announced a $5 million donation to children’s charities both in Singapore and overseas this year to kick-start a year-long series of activities as part of its 10th anniversary celebrations.

The donation, which will be distributed through the CapitaLand Hope Foundation (CHF), is also to celebrate its philanthropic arm’s fifth anniversary. This sum alone is equal to the entire amount CHF has contributed to 40 charities in Asia over the past five years.

CHF’s main focus is helping underprivileged children with shelter, education and healthcare needs.

Some other activities that will take place during the real estate conglomerate’s celebrations include a photography competition of any CapitaLand property in collaboration with the National Geographic Channel, a 10th Anniversary Commemorative Book, and an art exhibition by renowned Chinese artist Wang Shuping at the end of this month.

The 350 guests and staff who turned up to join in a lo hei-dinner at ION Orchard last night, hosted by group president and CEO Liew Mun Leong, were treated to a medley of cultural performances.

CapitaLand Group chairman Richard Hu said: ‘Despite a difficult decade for the global economy, CapitaLand has emerged ahead of the curve as a stronger company.

‘The strategy of exporting our real estate value chain overseas has paid off tremendously and the group has been recognised as a trailblazer for Singapore companies expanding abroad. Overseas markets now account for approximately half of our profits.

‘Over the past 10 years, we have generated total shareholder returns of $17 billion for our loyal shareholders.’

Mr Liew said: ‘Since CapitaLand’s formation from the merger of Pidemco Land and DBS Land in November 2000, the company has grown exponentially over the past 10 years into an international real estate company with a presence in over 20 countries.

‘From a $9 billion company at inception, the CapitaLand Group now comprises eight listed companies with a total market capitalisation of $40.3 billion as at end-2009.’

Source: Business Times, 20 Feb 2010

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