Briefs
topics
Philanthropy, SDO-Government Relations, Education, CSR, Poverty Alleviation
economies
China, India, Japan, Malaysia, Hong Kong, Singapore, Global
languages
English

Who’s Doing Good?

22 October 2018 - 28 October 2018

THE GIVERS

Hong Kong billionaire Lui Che-woo donates RMB 200 Million to Tsinghua University. One of the richest businessmen in Hong Kong and chairman of the K.Wah Group, Lui Che-woo has donated RMB 200 million (approximately US$28 million) to Tsinghua University in Beijing, China, to establish the Biomedical Sciences Building. The building is planned to enhance the university’s teaching and research capabilities, as well as house leading medical research centers, including the National Centre for Protein Science.

Hong Kong billionaire and alumni to match all donations to Hong Kong scholarships. Billionaire and chairman and CEO of Melco International and Melco Crown Entertainment, Lawrence Ho and his sister, Daisy Ho, who are both alumni of the school, have pledged to match every donation received by the University of Toronto (Hong Kong) Foundation in a new initiative called HK Match and help expand its existing scholarship program so that it fully covers tuition and living costs.

THE THINKERS

Proposed changes to India’s CSR laws could deplete motivation. As the world’s only economy with mandatory CSR, India is expected to collect upwards of Rs50,000 crore (approximately US$7 billion) from corporations by March 2019. But recent amendments have “hardened” the law, argues Shashwat DC. The author suggests corporations could turn away and treat CSR as a mere requirement. Grassroots beneficiaries, he adds, stand to lose out most as corporations may re-center towards low-hanging, low-impact contributions in their CSR approaches.

Private sector’s push in higher education and ease in regulation necessary says vice-chancellor of India’s rising university. Professor C. Raj Kumar, a former Rhodes Scholar at the University of Oxford and the founding vice-chancellor of the O.P. Jindal Global University (JGU), has cited government regulations and lack of attention to research among Indian private universities as important contributors to India’s struggle in global university rankings. His remarks came as JGU, established in 2009, broke into the 2019 QS Asia University Rankings. 

THE NONPROFITS 

Group of eight corporations, nonprofits, educational institutions, and individuals win President’s Volunteerism and Philanthropy Awards in Singapore. Launched in 2012, the annual President’s Volunteerism and Philanthropy Awards honor individuals, companies, ground-up movements, nonprofits, and educational institutions who give back to the community. The winners for 2018 were picked from nearly 100 nominations. Notable corporate and academic winners include Citi Singapore and the National University of Singapore. Assisi Hospice was chosen as the nonprofit winner for providing end-of-life care as a health-oriented nonprofit organization. President Halimah Yacob said, “I’m heartened that this year’s winners include firms that made giving an integral part of their corporate culture, as well as individuals who are passionate in helping those around them.”

Opportunities for Indian women grow as social and economic restrictions are addressed. This brief case study notes an increasing focus towards women in India, the participation of whom is seen as central to sustaining the Indian economy. Through a handful of profiles including that of a former expat now turned entrepreneur running Asia’s first commercial biobank and Katalyst, an initiative helping women from low-income communities, JPMorgan Chase presents an optimistic outlook for women in India.

THE BUSINESSES 

Sustainable exchange-traded fund (ETF) industry to be worth over US$400 billion by 2030, says BlackRock chairman. Larry Fink, chairman of the world’s largest asset manager BlackRock, expects sustainability to form the core of all investments made in the future. Following the announcement of the plan to launch six Environmental, Social, and Governance (ESG)-screened ETFs in Europe, Fink also opined that rates of returns on social investments would also outpace those on traditional investments. However, BlackRock was the subject of protests in September during which the company was alleged to be the largest owner of fossil fuels companies and hence “failing to walk the talk.” 

THE INNOVATORS

Binance releases 2018 donation report for West Japan disaster. Having delivered cryptocurrency donations to flood victims in West Japan via its Blockchain Charity Foundation, Binance has released its 2018 donation report. The Blockchain Charity Foundation and other external donors sent in around a total cryptocurrency amount worth US$1,410,000. With these funds, over 41,000 individuals in three prefectures received medicine, shelter, and other resources.

THE VOLUNTEERS

Malaysian university students raise funds and volunteers to help those in need. Organized by students of KDU Penang University College, the Technicolor Festival brought the student community together to raise funds and conduct volunteering activities for those in need. Students raised RM138,000 (approximately US$33,000), as well as collaborating with the Penang Social Welfare Department to help underprivileged families. Dr. Chong Beng Keok, the university’s vice chancellor, commented, “It is about different communities coming together and a platform for them to showcase their creativity, talents, and skills. This festival is not only to celebrate culture but the proceeds will also be channeled to the underprivileged.” 

THE TRUSTBREAKERS

Ex-Malaysian Prime Minister faces six new corruption charges. A Malaysian court on Thursday charged former Prime Minister Najib Razak with six new corruption charges in relation to alleged embezzlement involving the state-owned 1Malaysia Development Berhad (1MDB) fund. The new charges were added to the existing 32 cases of corruption against him in regards to the 1MDB fund. Former Prime Minister Razak denied the allegations, claiming that the money was a donation from a Saudi Arabian prince and that he was cleared by Malaysian authorities during his time as Prime Minister.