Singapore

THE Loh Kean Yew Encouragement Fund closed on Sunday (Jan 16) with S$367,528 raised for Singapore's top badminton player, the first from the country to win the BWF World Championships.

The crowdfunding exercise was set up by badminton enthusiast and managing director of Pine Garden's Cake, Wei Chan, on a personal basis on Jan 2, and drew 724 donors.

Among the donors was the Karim Family Foundation - backed by the family of Indonesian tycoon Bachtiar Karim and his wife Dewi Sukwanto - which donated S$200,000 to congratulate the 24-year-old on his achievement.

Karim is the executive chairman of Singapore-based oil conglomerate Musim Mas.

According to Forbes, the Karim family had a net worth of around US$3.5 billion in 2021, making them the 10th richest in Indonesia.

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In Singapore, the family is developing a hotel along Orange Grove Road, which will reportedly operate under The Standard brand come 2023.

Five business leaders kicked off fund-raising efforts for Loh by banding together to set up a S$50,000 fund for the badminton player after his historic victory in Spain, The Business Times reported in December.

The 5 are: Ang Kiam Meng, group chief executive officer of Jumbo Group; Daryl Neo, co-founder and CEO of DC Frontiers; Dora Hoan, group CEO of Best World International; Eugene Ang, managing director of JK Technology; and Chan.

"It is heartening to see the support and encouraging words from fellow Singaporeans, as young as 13 yrs old, for Loh," said Chan on Sunday, expressing his gratitude for crowdfunding non-profit organisation Ray of Hope in facilitating an endeavour that has enabled Singaporeans to stand behind Loh in spirit.

"Support of Singapore's sportsmen goes beyond one's love of the game. There is a need to look at providing a post-career safety net so that sportsmen continue to fight for our country's glory cogently, while binding the community spirit indirectly."

He added: "Loh has already achieved a historical accolade and in my opinion, his journey has just begun now that he is no longer an underdog. To be great, is to be consistent. Taking a quote from our late founding father, 'Follow that rainbow'. The fairytale is his to create."

On Sunday night in New Delhi, Loh finished second at the India Open, losing in straight sets to World championship bronze medallist Lakshya Sen.