Major Indian philanthropist increases his commitment to philanthropic initiatives. Azim Premji, Chairman of Wipro, merged his investment arm PremjiInvest with Azim Premji Trust, the holding entity for the endowment trusts that he set up as far back as 2001. With this merger, the corpus of funds has gone up to approximately US$12 billion (about Rs78,000 crore), more than 63% of Premji’s net worth.
Peking University appoints Hong Kong philanthropist as an Honorary Trustee. Dr. Lui Che-woo, Chairman of K. Wah Group, has been appointed by Peking University as an Honorary Trustee in recognition of his contributions to the university. Last year, Lui donated 120 million yuan (approximately US$19 million) to Peking University’s School of Life Sciences for supporting the construction of a new research building and the development of the School of Life Sciences. On top of his contributions to Peking University, Lui has been supporting various universities and educational institutions in Hong Kong, China, and North America.
Yu Holdings establishes endowment for curator in charge of The Costume Institute at the Metropolitan Museum of Art. Wendy Yu, Founder and CEO of Yu Holdings, has set up an endowment for the Curator in Charge of The Costume Institute at the Metropolitan Museum of Art. Andrew Bolton will assume the title of Wendy Yu Curator in Charge of The Costume Institute. Yu Fashion, under Yu Holdings, will roll out a program of initiatives with The Costume Institute in China, including a series of Bolton-led educational talks and aligning the Metropolitan Museum of Art with Chinese art and fashion communities.
Korean start-up magnate donates ₩5 billion (approximately US$4.7 million) to the Community Chest of Korea and becomes the biggest ever donor to the charity. Kim Bong-jin, the head of Woowa Brothers, a start-up that operates a widely used mobile application for food delivery, donated to the Community Chest of Korea for providing scholarships and support programs for students in need. With this donation, Kim became the biggest ever individual donor to the Community Chest of Korea.
Hong Kong High Court rules late tycoon’s entire estate can go to charity. The High Court validated the will of late billionaire philanthropist Yu Pang-lin giving his entire estate worth an estimated HK$10 billion (US$1.28 billion) to charity. Yu’s grandson Pang Chi-ping, the sole trustee of the Yu Pang-lin Charitable Trust, had asked the court in 2015 to override opposing claims raised by two other family members. The two later declared they would not challenge the will. Yu died three years ago and had said he would donate his earthly possessions to help those in need. Yu was the chairman of Foo Tak Development Company, president of Yu’s Charitable Foundation, and chairman of Shenzhen Panglin Hotel.
Melinda Gates announces a US$170 million plan to empower women. Gates, Co-chair of the Bill & Melinda Gates Foundation, announced the foundation’s plan to spend US$170 million over the next four years to help women exercise their economic power. “With a new focus on women’s economic empowerment, connecting women to markets, making sure they have access to financial services, and empowering them to help themselves, we aim to help tear down the barriers that keep half the world from leading a full life,” Gates wrote for Quartz.
Singaporean ministry plans to provide the elderly and working adults with “visibility guide” to create a safer environment for giving. The Ministry of Culture, Community and Youth will launch a new campaign in phases from June this year to provide visibility guides to the elderly and working adult donors. For example, hard-copy brochures of summarized relevant information about giving and organizations will be given to the elderly, while social media will be used as an information-sharing platform for working adults.
GiveIndia is striving to spread a culture of giving among Indians. GiveIndia, a nonprofit founded in 2000, is one of the oldest and largest giving platforms in India. Since its inception, it has brought over Rs300 crore (approximately US$46 million) in contributions to over 200 nonprofits across the country. To target a new generation of online Indian consumers, GiveIndia 2.0, an easy-to-use online giving platform where donors can choose from various monthly subscription-based giving options, was founded. So far, the new online platform has contributed more than Rs100 crore (approximately US$15.3 million).
Ford and Honda projects get top automotive CSR awards in the Philippines. The Driven To Serve Awards, an annual project of the Society of Philippine Motoring Journalists, recognizes CSR projects in the automotive industry, which have made the most impact on communities through four categories: road safety, community development, environment, and education and training. The highest Platinum awards this year were given to Ford and Honda. Other companies that were recognized include Toyota, Volkswagen, Hyundai, and Bermaz Auto.
Charity groups in Singapore may soon be able to use a mobile application for a volunteer. Telling Parliament about tapping technology to promote volunteerism, Grace Fu, Minister for Culture, Community and Youth, said, “We will study how to harness the power of technology for social good and provide a one-stop avenue… where Singaporeans, especially those with the desire to help but do not know where or how to start, can easily find volunteering opportunities.” Specific details and plans have not been announced.
Indian volunteer wins Commonwealth Points of Light award. Srishti Bakshi, founder of the CrossBow Miles movement, was recognized as the 26th Commonwealth Point of Light for her exceptional service to empowering women in India. She is leading a team of hundreds of female volunteers on a 3,800 km walk through India across 260 days. During the walk, Srishti also leads workshops for women in rural communities on digital and financial literacy, leadership, and health.
Scandal involving Japanese Prime Minister gathers momentum. A scandal over a controversial sale of public land to Moritomo Gakuen, an educational foundation alleged to have connections with Japanese Prime Minister Shinzo Abe and his wife Akie, is gathering momentum. After the Asahi Shimbun reported last week that finance ministry documents relating to the sale were altered before being submitted to lawmakers for inspection, Nobuhisa Sagawa, who oversaw a division in the Finance Ministry involved in negotiating the land sale, resigned from his current role as head of the National Tax Agency. The newly resurfaced scandal may have impact on the looming re-election fight for Abe and the future of his current cabinet.