CapitaLand launches S$500,000 fund to support children of NTUC union members impacted by unexpected income loss
CapitaLand-U Care Resilience and Enablement Fund to assist about 2,500 children over two years
Singapore, 5 July 2019 - CapitaLand, through its philanthropic arm, CapitaLand Hope Foundation (CHF) has launched a S$500,000 CapitaLand-U Care Resilience and Enablement Fund (CAP+Ure, pronounced as “capture”). The fund provides a safety net to capture and assist children of low-to-medium income National Trades Union Congress (NTUC) union members who are impacted by sudden loss of income in unforeseen circumstances, such as retrenchment or illness in the family. The launch of the fund was witnessed by President Halimah Yacob at NTUC-U Care Fund’s 10th anniversary dinner this evening.
Working with NTUC-U Care to administer CAP+Ure, the fund aims to assist about 2,500 children of union members with a total monthly household income of less than S$5,800. Each child will receive a one-time disbursement of S$250 in NTUC FairPrice vouchers to provide for their daily necessities and schooling needs. CHF will contribute S$200 with partial matching by NTUC-affiliated unions on the remaining S$50. CAP+Ure will run for a period of two years starting from Q4 2019. Members can apply for the programme via their unions.
Mr Tan Seng Chai, Chief Corporate & People Officer for CapitaLand Group and Executive Director of CapitaLand Hope Foundation (pictured), said: “As a socially responsible company, CapitaLand plays an active role in building an inclusive and caring society. Tapping on NTUC’s network enables us to broaden our reach to underprivileged children who need immediate assistance. This partnership with NTUC to launch CAP+Ure allows us to help union members with sudden loss of income tide through a difficult period. The fund ensures the health and education needs of their children are provided for. We believe each child is to continue to be nurtured to their full potential and will bring significant value to future societies.”
Mr Zainal Sapari, NTUC Assistant Secretary-General and Director of NTUC Care and Share Department, said: “The collaboration between CapitaLand and NTUC, in leveraging each other’s strengths in terms of resources and ground network, demonstrates the positive outcome that can be achieved to benefit children of workers in times of need. I would like to encourage more companies to emulate such collaborations with NTUC as part of their social responsibility, and make a difference in the lives of workers.”
Through CAP+Ure and CHF’s other inclusive programmes, CapitaLand aims to continually make a positive impact on the lives of underprivileged children and the vulnerable elderly in the various communities that the Group operates in. In 2018, CHF contributed over S$2.2 million to provide for over 18,000 underprivileged children and more than 42,000 vulnerable elderly. Its programmes include CapitaLand-Yellow Ribbon Fund (YRF) Children Support Programme, CapitaLand-NUHKids Nutrition Fund, and CapitaLand Silver Empowerment Fund in Singapore, as well as CapitaLand Hope Schools in China and Vietnam.
For more information on these programmes, please refer to the Annex.
Launch of CAP+Ure