21 Jan 2006
Donation of $250,000 A Big Helping Hand to Eldercare's New Plans for the year
MEDIA RELEASE
Singapore, 21 January 2006 – NTUC Eldercare opened its third centre in Pasir Ris today, with a big Ang Pow from NTUC Link Pte Ltd and OCBC Bank to usher in the plans of Eldercare for the new year.
2 This Ang Pow of $250,000 will be donated to the Eldercare trust fund for the development purposes of NTUC Eldercare. NTUC Eldercare, which provides affordable and quality care services for elderly of Singaporean families, will make use of this contribution to purchase services and organize more activities for the benefits of its elderly users.
3 In addition, it intends to develop a more holistic approach to the overall well-beings of the elderly under its care. Besides the social and physical activities which NTUC Eldercare is currently providing, it also intends to start programmes relating to the mental aspects of the elderly. This will ensure that the elderly will remain mentally healthy and active in their golden years.
4 This $250,000 was collected with the help of union members who charged their expenditure to their NTUC-OCBC credit and debit cards in 2005. As part of the NTUC-OCBC partnership, OCBC Bank had pledged to donate 1% of the total amount charged by union members to NTUC-OCBC credit and debit cards, subject to a maximum of $250,000, to a charity nominated by NTUC Link.
5 By benefiting NTUC Eldercare, NTUC Link and OCBC Bank hope to lend their support towards a community based facility that caters to the needs of the frail elderly. They also hope to promote the concept of “active ageing” to all Singaporeans.
6 Dr Cheong Choong Kong, Chairman of OCBC Bank said, “I am delighted as well as honoured to be presenting a cheque of $250,000 to the ElderCare Trust. Our donation re-affirms our oneness with the Singapore community, of which we are an inseparable part. For a relatively young nation that turned 40 not long ago, we have about one million people aged over 60, and this demographic group is growing. Because it is important to maintain good health and achieve financial security in old age, I am glad that OCBC is playing its part in nurturing a wholesome society that cares for the elderly.”
7 At the official opening of Silver Circle at Pasir Ris this morning, Mr Lim Boon Heng, Minister, Prime Minister’s Office & Secretary General, NTUC and Dr Cheong Choong Kong, Chairman of OCBC led the guests, union leaders, grassroot leaders, students and elderly in a mass qigong exercise. It is hoped that all Singaporeans will appreciate the importance of staying fit and healthy, regardless what stage of life one is in.
8 Thereafter, Mr Lim Boon Heng and Mr Seng Han Thong, NTUC Assistant Secretary-General together with Dr Cheong Choong Kong and Mr David Conner, Chief Executive Officer of OCBC Bank presented the Ang Pow cheque of $250,000 to Mr Ong Ah Heng, Executive Director, NTUC ElderCare Co-operative Ltd.
9 Mr Lim Boon Heng and the guests also toured the newly opened Eldercare Centre in Pasir Ris. There are also magic shows, taiji performances, health tests and lucky draws organized for the grassroot leaders and residents.
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About NTUC Eldercare
NTUC Eldercare Co-opoerative Limited was registered in 1997, with the objective of providing affordable and quality care services for the elderly of average dual-income Singaporean families.
It also offers value-add services such as physiotherapy, counselling, loan of home care equipment, basic health checks and provides information & referrals. Besides these, NTUC Eldercare also organizes public education workshops and projects to promote the importance of active and responsible ageing.
NTUC Eldercare currently has three centres in Singapore, namely in Marsiling, Taman Jurong and Pasir Ris.
About NTUC Link Pte Ltd
NTUC Link was incorporated in March 1998 to develop the LinkPoints Loyalty Programme. Today the LinkPoints Programme has grown and attracted more than 750,000 members and over 500 participating merchant outlets. It is one of the largest Loyalty Programme of its kind in Singapore. The LinkPoints Programme has many attractive rewards and extra benefits for Union Members only.
About the NTUC-OCBC Partnership
NTUC Link and OCBC Bank launched their partnership in September 2004 with the aim of delivering greater benefits and rewards to union members and the wider working community in Singapore. With this collaboration, all union members will be able to enjoy an exclusive offering of banking and financial products.
The first that was introduced were the NTUC-OCBC Credit and Debit Cards in September 2004. These cards allow cardholders to enjoy payment convenience at more than 22 million global locations, easy access to banking services, as well as the opportunity to earn more LinkPoints at a faster rate.
Since the launch of the partnership, NTUC and OCBC have worked hand-in-hand to launch financial products and financial educational programmes specially tailored for union members.
About OCBC Bank
Singapore's longest established local bank, OCBC Bank currently has assets of S$134 billion and a network of 292 branches and representative offices in 15 countries and territories including Singapore, Malaysia, Indonesia, China, Hong Kong SAR, Brunei, Japan, Australia, UK and USA. This network includes 185 branches and offices in Indonesia operated by OCBC Bank’s subsidiary, PT Bank NISP. OCBC Bank and its banking subsidiaries offer a wide range of specialist financial services, from consumer, corporate, investment, private and transaction banking to global treasury and stockbroking services to meet the needs of its customers across communities.
OCBC Bank’s insurance subsidiary, Great Eastern Holdings, is the largest insurance group in Singapore and Malaysia, in terms of assets and market share, and its asset management subsidiary, Lion Capital Management Ltd. is one of the largest asset management companies in Southeast Asia.
In 2005, OCBC Bank was named Global Finance magazine’s best Trade Finance Bank and FinanceAsia’s Best Bond House. Additional information may be found at www.ocbc.com.
