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CapitaLand launches S$2m fund to empower vulnerable elderly in Singapore
AGAINST the backdrop of an ageing population, CapitaLand's philanthropic arm, CapitaLand Hope Foundation, has set up a S$2 million fund with the aim of improving the quality of life for the vulnerable elderly in Singapore through deeper social integration, as well as better healthcare and living conditions.
The launch of the CapitaLand Silver Empowerment Fund marks the first time the foundation has expanded its mandate from helping underprivileged children to the vulnerable elderly, since its establishment in 2005.
The foundation will also partner Community Chest Singapore to identify, fund and volunteer in projects to support these vulnerable seniors aged 60 and above over the next three years.
The first two projects supported by the fund include the refurbishment of a wheelchair-friendly community garden where the elderly can do gardening and interact with the rest of the community, as well as the completion of a Community Hub in an ageing neighbourhood designed to promote independence and delay institutionalisation, CapitaLand said.
Both projects will take place in the Ang Mo Kio area, and will benefit over 2,600 elderly when completed, the group added.
The launch of the fund was officiated by guest of honour President Halimah Yacob at Raffles City Singapore.
Said Madam Halimah: "Through the President’s Challenge, we are building a more caring and inclusive society, and CapitaLand has been a committed supporter of this goal. I encourage more corporates to extend their assistance, and to contribute their resources and expertise to help the silver generation stay connected and integrated to Singapore’s social fabric."
At the event, CapitaLand also pledged an additional S$300,000 to benefit six charities under President’s Challenge 2018. These charities are: Ain Society, Boys Town, Care Community Services, Persatuan Permudi Islam Singapora (PPIS), Rainbow Centre and the Society for the Aged Sick.
Said president and group CEO of CapitaLand Group, and director for CapitaLand Hope Foundation, Lim Ming Yan: "For over 10 years, CapitaLand has been supporting underprivileged children... However, with Singapore’s changing demographics, the issue of elderly care has become a growing concern.
"As we expand the foundation's mandate to support the healthcare and wellbeing of the vulnerable elderly, CapitaLand is looking forward to working together with longtime partners like President’s Challenge and Community Chest to improve the quality of aged care in Singapore."
Separately, Community Chest chairman Phillip Tan noted that it was heartening to see CapitaLand take the lead to give back and expand the reach of its charity arm to benefit vulnerable seniors, "many of whom not only require support in terms of resources, but also desire to be meaningfully engaged within the community".