SGX Charity Event, Why China Charity?

[makapaaa]

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Coffee Shop Talk - SGX Charity Event, Why China Charity?

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Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">SGNEWSALTE <NOBR></NOBR></TD><TD class=msgDate noWrap align=right width="30%">Sep-3 9:30 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(1 of 4) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4></TD><TD class=wintiny noWrap align=right>976.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Recently, it was reported that China spend $14 billion on it's olympic open/closing ceremony alone. In the local scene, there are many charities here that are running out of fund, and will have to close in no time. So why does SGX allocate part of it's charity fund for China? Doesn't charity begins at home? If china firms here want to do charity for their homeland, can't they donate directly to the charities there?
http://www.asiaone.com/News/The%2BNew%2BPaper/Story/A1Story20080904-85797.html
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S'pore event, why give to China charity?
CHARITY begins at home, they say. But should it also remain at home?
SGX will, for the first time, allocate part of the funds raised by Bull Charge 2008 to the China Youth Development Foundation (CYDF), a government-affiliated welfare group in China.
Said a SGX spokesman: 'The Bull Charge has benefited from the generosity of overseas listed companies over the last four years.

Chinese listed companies
'To date, Chinese companies have formed the most significant group of contributors. Thus, for our first overseas charity, we selected one from China.'
A consultant, who only wanted to be known as Mr Yeo, is sceptical.
He said: 'The Chinese are so rich, and don't need the money. The old man in Telok Blangah might benefit from it a lot more.'
Other businesses, while supportive, are hesitant of SGX's decision.
Said Mr Clifford Tan, 55, a restaurant owner: 'I'd be supportive if I know the money is used for the right purpose. But behind the scenes, how do we know what's going on?

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[PropertyWatcher]

SGX got 200 Chinese companies lah, it's a business decision

All these people complaining just wasting newsprint and bandwidth

 

[chinkangkor]

If these Chinese companies want to donate to China, they can do so directly. If it is donated to S'pore, then SGX should use it for local purpose rather than allocate it to an oversea charity when local charities are crying out loud for funds.

 

[makapaaa]

More like the AssGX running dogs are using Sporns' money to pursue their personal escape routes to China lah!

 

[zack123]

What the hell does China Youth Development Foundation do anyway which is of higher importance that SGX is not channeling the funds for our local charities?

 

[chinkangkor]

More like using donations supposedly for poor S'poreans to get into the good books of the Chinese govt.

 

[banova888]

This is worse then the NKF news.

 

[allanlee]

Many singkee companies doing biz in china got their $$$ stuck there..... amounting to $$$billions and not allowed to send back to sg...... this is just one of the various methods the singkee gahmen is using to help "loosen" the PRC control of the $$$$..... hopefully some of it can trickle back into this little red dot.

 

[chinkangkor]

Many singkee companies doing biz in china got their $$$ stuck there..... amounting to $$$billions and not allowed to send back to sg...... this is just one of the various methods the singkee gahmen is using to help "loosen" the PRC control of the $$$$..... hopefully some of it can trickle back into this little red dot.

You have inside info?

 

[cass888]

Said a SGX spokesman: 'The Bull Charge has benefited from the generosity of overseas listed companies over the last four years. .. 'To date, Chinese companies have formed the most significant group of contribu

I think you have your answer there.

 

[The MilkMan]

firstly,China is now a market that cannot be ignore. a lot of investment there by either local or foreign companies and mnc.
secondly,have to show that we also care about others and not just ourselves.
thirdly,more and more PRC's companies are listed here and a lot more are planning to do it,here is the springboard to the world for them.

 

[chinkangkor]

secondly,have to show that we also care about others and not just ourselves.

Take care of the poor in other countries at the expense of the needy in S'pore so that the govt can have some 'face'?