logo
2 philanthropic communities launched to boost clean energy and improve maternal, child health

2 philanthropic communities launched to boost clean energy and improve maternal, child health

Straits Times05-05-2025

The Just Energy Transition community will help to accelerate Asia's energy transition away from pollutive fossil fuels to cleaner energy sources. ST PHOTO: LIM YAOHUI
SINGAPORE – With Asia grappling with challenges in shifting to clean energy sources and reducing preventable deaths among women and children, two new communities of givers were launched on May 5 to accelerate the search for solutions in these areas.
These philanthropic groupings, called the Health for Human Potential community and the Just Energy Transition (JET) community, were introduced during the Philanthropy Asia Summit convened by the Temasek Trust-backed Philanthropy Asia Alliance (PAA). The event was held at the Marina Bay Sands Convention Centre.
This brings the total number of communities initiated by PAA to five. The first three were launched at 2024's summit on blue oceans, sustainable land use, and holistic and inclusive education.
These communities serve as platforms for collaboration among alliance members keen on funding initiatives under the different themes.
'The communities initiative was born from a simple idea: that we can do more, and do better, when we act together,' said PAA chief executive Shaun Seow. 'To drive deep impact, it is critical for PAA to provide focused platforms for collaboration, apart from industry convenings such as the Philanthropy Asia Summit.'
The JET community, led by Tara Climate Foundation and Bloomberg Philanthropies, will help to hasten Asia's energy transition away from pollutive fossil fuels to cleaner energy sources. PAA and Tara Climate Foundation did not disclose how much they will commit to fund projects.
According to the ClimateWorks Funding Trends 2024 report, just 20 per cent of philanthropic funding reached Asia, Africa and Latin America combined between 2019 and 2023, while nearly 60 per cent flowed to the United States and Europe.
JET seeks to close this gap, serving as a collaboration platform for philanthropic organisations to support clean energy initiatives that protect the environment, improve livelihoods, and support a better future for millions across the region, said PAA.
This helps funders, governments, industry and local communities to work together to promote initiatives around job creation, workforce re-skilling, and establishing better health outcomes and more resilient communities.
Countries like Vietnam, Indonesia and the Philippines have set strong renewable energy targets for 2030 – some aiming as high as 40 per cent of their total electricity share.
However, across Asia, wind and solar energy still remain in the single digits, said Tara Climate Foundation chief executive Jamie Choi.
'The start of the Just Energy Transition community will be mostly about solar and wind energy, which is more widely available across all of Asia. But all technologies are on the table, and we're open to tap other sources of renewable energy like geothermal energy in the future,' she said.
She added that the transition must centre around people first for communities to benefit from the shift to clean energy, and hence a need to invest in skills, jobs and support systems.
'With the support of this community, we aim to ensure that the shift to clean energy doesn't just leave anyone behind, especially the workers and communities that have long relied on fossil fuels. At the same time, we want to make sure that the benefits of the transition, from better jobs and clean energy access, to economic opportunity, reach those who need them the most,' she said .
'The bottom line is Asia has momentum. Now, we need bold policies, smart finance, and strong collaboration to turn ambition into action and ensure that transition not just fast, but also fair,' she said.
She also added: 'Energy transition in Asia is too big for anyone to tackle alone. This is why collaboration and deep partnerships are not just a 'nice to have'. They are a must-have.'
The Health and Human Potential community will focus on reducing preventable deaths and disease burdens in South-east Asia, focusing on maternal, newborn, and child health and nutrition, as well as tackling infectious diseases.
Led by the Gates Foundation, Institute of Philanthropy, Quantedge Advancement Initiative, Tanoto Foundation and Temasek Foundation, the community – with the support of PAA – will commit to a funding target of US$100 million (S$1.3 million) by 2030, to target a portfolio of projects.
The Tanoto Foundation, for instance, is dedicated to studying the effects of malnutrition in children – such as obesity, wasting and stunting – and potential solutions. Wasting refers to the progressive weakening of the body, and stunting is an impairment in physical growth and brain development of children.
Working extensively with Indonesia's National Population and Family Planning Board, which coordinates the government's 22 ministries and agencies tackling stunting, Tanoto Foundation has helped identify and assist at-risk families.
'Interventions at the provincial and district level focus on raising awareness among key demographics, including expectant mothers, adolescents, and parents of young children . A notable initiative was partnering with Unicef in 2021 to run mass media and digital campaigns promoting six best practices for preventing stunting to caregivers across Indonesia ,' said Ms Belinda Tanoto, member of the board of trustees at Tanoto Foundation.
She added: 'When we first started work in 2017 in Indonesia, the stunting rate was 31 per cent. But a long-time partnership between the Gates Foundation and a few other donors led us to set up a multi-donor trust fund to work on this... Now, it's dropped to 21 per cent.'
The foundation has since partnered with the Indonesian government and donors, including multilateral organisations like the World Bank and Unicef, and local ones like the Djarum Foundation, to fund medical research and professorships to study solutions. They have also committed US$25 million to replicate its Indonesian programmes addressing stunting and other causes abroad.
The communities initiative will allow philanthropies to come together to go beyond specific countries, and invest in the early years to tackle such issues on a regional scale, she added.
Efforts will initially focus on the region's most populous countries – Indonesia, the Philippines and Vietnam – to tackle the burden of diseases such as tuberculosis and malaria.
At the summit, the two novel communities will host kick-off sessions to engage like-minded partners to collaborate for shared goals. These sessions will map out a blueprint of the communities' mission, scope of challenge, metrics and timelines for progress.
Join ST's WhatsApp Channel and get the latest news and must-reads.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ST Engineering hits all-time high; stock picks roll in after MAS update on $5 billion equities boost
ST Engineering hits all-time high; stock picks roll in after MAS update on $5 billion equities boost

Straits Times

time6 days ago

  • Straits Times

ST Engineering hits all-time high; stock picks roll in after MAS update on $5 billion equities boost

Shares of SGX climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. ST PHOTO: LIM YAOHUI SINGAPORE - Shares of ST Engineering hit an all-time high last week after rising by 4.3 per cent to close on May 30 at $7.82. The company's shares have been on a tear since the start of 2025, climbing more than 68 per cent on the back of record 2024 results and increased dividends over the period. It also reported a solid first quarter for 2025, driven by strong growth in its defence and public security segment. The strong share price performance came ahead of the weekend's anticipated annual defence-focused Shangri-La Dialogue in Singapore. Addressing the audience at the dialogue on May 31, US Defence Secretary Pete Hegseth suggested that US allies and partners in Asia should take their cue from Europe, where members of the North Atlantic Treaty Organisation are committing to spend 5 per cent of their gross domestic product on defence. Shares of Singapore Exchange (SGX) climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. No announcements were made on the day. Trading activity on the exchange has increased in recent months, driven by market revival measures announced in February and growing investor interest in Singapore stocks as a safe haven amid global volatility. Almost 29.5 billion shares worth around $41 billion were traded in April, up from around 26.8 billion shares valued at $29.6 billion traded in March, according to SGX data. The average daily value of shares traded in April, at $1.9 billion, is the highest level since March 2020. Analysts pick potential winners ahead of $5 billion boost Trading on the SGX has included shares in companies outside the benchmark Straits Times Index (STI), supported by a central bank-led programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local, non-STI stocks. Announced in February as part of the measures to revive the stock market, the Equity Market Development Programme (EQDP) has received positive interest from global fund managers, and suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore (MAS) said last week. Analysts reckon the funds will likely be deployed before the end of 2025 and have been highlighting stocks they believe could benefit from this bonanza. SIA Engineering is one of their favourites, with CGS CIMB, UOB KayHian, DBS and Morgan Stanley including the company in their list of stock picks. They like the company as demand for its aircraft maintenance, repairs and overhaul services is expected to grow. Systems assembly provider Frencken Group and property agency PropNex are also among the analysts' top picks, owing to the companies' strong revenue forecasts for 2025. Other selected stocks include instant coffee maker Food Empire, finance platform iFast, precision engineering business UMS Integration, supermarket chain Sheng Siong, Raffles Medical, technology solutions provider CSE Global, palm oil producer First Resources, transportation giant ComfortDelGro and construction firm Hong Leong Asia. Some analysts also like Oiltek International, a provider of vegetable oil processing technology, and Centurion Corp, which operates workers' dormitories in Singapore. Both companies have seen their share prices climb since the start of 2025, driven in part by Oiltek's upcoming transfer from the Catalist board to the mainboard and the potential listing of a real estate investment trust (Reit) by Centurion. Analysts from UOB KayHian said they are now more bullish on the Singapore market as a result of the anticipated injection of liquidity from the EQDP, and have raised their forecast for the STI to 4,054 points by the end of 2025 from 3,720 points previously, implying an upside of 5 per cent from current levels. They noted, though, that 'it will be critical for the authorities to ensure that the $5 billion is not a one-off and that as the market grows, it will be able and willing to continue to lend its support'. More firms could leave the local bourse Two more companies announced moves that may impact their SGX listing status even as efforts are being made to boost market interest and attract new initial public offerings (IPOs). Singapore Paincare on May 27 received a privatisation offer from Advance Bridge Healthcare at 16 cents a share, valuing the company at about $27 million. The local medical services company will be delisted from the Catalist board if the deal is successful, it said. Meanwhile, Chinese manufacturer Fuxing China Group said on May 29 that trading in its American depositary shares would begin 'very shortly' after it received approval to list on the Nasdaq on May 23. When contacted by The Straits Times, Fuxing China Group declined to confirm whether it would maintain its SGX listing or provide further details on the Nasdaq move. In 2025 so far, at least 15 companies have received privatisation offers, compared with just one IPO. This is despite ongoing efforts to draw more companies to list on the SGX, including proposals announced on May 15 to ease the disclosure requirements for firms pursuing an IPO here. Other market movers Shares of Samurai 2K Aerosol jumped by over 52 per cent last week and closed on May 30 at 9.6 cents. The aerosol paint distributor said on May 28 it had agreed with its insurer on a RM16.06 million (S$4.9 million) indemnity claim for a May 2024 fire at its Johor premises. It can also claim an extra RM1.79 million if the damaged properties are repaired according to certain conditions and within a set timeline. The insurance claim had initially been declined due to non-compliance of the insurance policy terms, according to its insurer. However, Samurai 2K escalated the matter to the Malaysian central bank and engaged consultants to help it negotiate the claims. The company reported on May 30 after market close a 31.4 per cent jump in revenue for the year ended March 31, to RM104.9 million. However, it registered losses of RM7.8 million due to the write-off of inventory worth RM12.7 million and property damage totalling RM3.5 million as a result of the fire. The insurance claims receivable will be registered in 2026. Acrophyte Hospitality Trust (AHT) jumped 23.4 per cent last week and closed May 30 at 29 US cents. AHT's managers on May 30 said they were evaluating a 'range of strategic options' that could result in a 'potential transaction' involving AHT's stapled securities, although this is not guaranteed. Stapled securities are financial instruments where two or more different securities are contractually bound together and traded as a single unit. The AHT group comprises Acrophyte Hospitality Property Trust and Acrophyte Hospitality Management Trust. The strategic review comes in the light of potential spending needs to upgrade AHT's current properties. This involves upgrades to seven Marriott and Hyatt-branded hotels in 2025, after six other hotels were upgraded in 2024. It also comes after a similar move by Frasers Hospitality Trust (FHT) in April, following which FHT's sponsor Frasers Property made a second attempt to privatise the stapled group at 71 cents per stapled security in May. FHT comprises Frasers Hospitality Reit and Frasers Hospitality Business Trust. AHT was formerly known as ARA US Hospitality Trust before the manager changed hands to come under Acrophyte AM, a unit of Acrophyte, which largely consists of the businesses of the formerly listed Chip Eng Seng. The entities are all ultimately controlled by property tycoon Gordon Tang and his wife Celine, who have multiple interests in property and construction, including Suntec Reit and Singapore property developer SingHaiyi. What to look out for this week Shares of OKP Holdings, which rose 9 per cent last week, could see more trading activity – after the market closed on May 30, it announced a $258.3 million contract from the Land Transport Authority to construct cycling paths across 11 towns in the eastern part of Singapore. The win brings OKP's net contract order book to a record high of $735.8 million, with contracts extending until 2031. Oiltek could see more trading, too. The company will officially transfer from Catalist to the SGX mainboard on June 6. Join ST's Telegram channel and get the latest breaking news delivered to you.

People's Park Complex being repainted red and white, but not specifically for SG60
People's Park Complex being repainted red and white, but not specifically for SG60

Straits Times

time27-05-2025

  • Straits Times

People's Park Complex being repainted red and white, but not specifically for SG60

People's Park Complex in Chinatown being repainted in red and white on May 20. ST PHOTO: LIM YAOHUI People's Park Complex being repainted red and white, but not specifically for SG60 SINGAPORE – Chinatown's modernist icon People's Park Complex, which is being studied for the possibility of conservation, will sport a fresh red-and-white look later in 2025. The choice of colours has led some, including one of the building's architects Koh Seow Chuan, to associate it with Singapore's national flag – which is apt, given that works are taking place in 2025, the 60th anniversary of the country's independence. But 'the colour scheme was not specially chosen to mark SG60', People's Park Complex's managing agent Claire Dixon-Lim told The Straits Times . It 'was recommended by a designer and approved by the building's management council', she said, adding that the facade rectification and repainting works are slated to be completed before the fourth quarter of 2025, depending on weather conditions. The mixed-use development , which was completed in 1973, was last repainted in 2009, when its then orange and green facade made way for yellow and green paint coat that is now being painted over. It had to be repainted as the existing paintwork would be affected facade rectification works that were required. In November 2024, the Building and Construction Authority had told People's Park Complex's management to carry out a facade inspection, and rectify defects. Works are slated to take place from Dec 1, 2024, to Aug 15, 2025, Ms Dixon-Lim said in a letter to the development's owners and occupiers in November 2024. People's Park Complex, a 31-storey strata-titled complex, is currently being studied by the Urban Redevelopment Authority (URA) for conservation. In February, the agency said that it had completed a structural investigation of the building, which will guide URA's assessment 'in determining the potential of conserving the building vis-a-vis redevelopment plans'. The complex was one of the first mixed-use commercial and private residential developments in the region . It was also the largest shopping complex in Singapore when it first opened and the first shopping complex in the country with atriums. Pioneer Singaporean architects William Lim, Tay Kheng Soon and Mr Koh of Design Partnership Architects, known today as DP Architects, were the men behind its design. Speaking to ST, Mr Koh said that the building's concrete facade was originally unpainted, with an off-form, fair-faced finish that was common in modernist buildings after World War II. 'Fair-faced concrete was in vogue after the war when most countries were poor,' he noted. Non-profit heritage group Docomomo Singapore said in a paper on the complex that its fair-faced finish adhered to the modernist precept of 'honest material expression'. This black-and-white photograph from May 1979 shows People's Park Complex's fair-faced concrete facade, before it was painted. PHOTO: ST FILE Modernist architecture spans roughly the 1930s to the 1980s, and includes styles such as brutalism, which People's Park Complex is associated with. Generally, modernist architecture is linked to minimalism, and emphasises function over ornamentation. Mr Koh said that the building was first painted in the late 1980s . Archival photos from the late 1980s and 19 90s show that the complex had a largely beige colour scheme. People's Park Complex (left) in March 1996 with a beige-coloured facade. PHOTO: TNP FILE This was likely replaced by an orange and green scheme when the building underwent a $15 million facelift that started in 1998. People's Park Complex, with the Chinese characters zhen zhu fang, or Pearl Square, on its facade, pictured in March 2007 with an orange and green paint scheme. PHOTO: LIANHE ZAOBAO The Chinese characters zhen zhu fang, or 'Pearl Square', were presumably added to the building's facade during these works – a nod to the building's location at the foot of Pearl's Hill. The hill was named after Captain James Pearl, who commanded the Indiana – the ship brought Sir Stamford Raffles, modern Singapore's founder, to the island in 1819. The Chinese characters zhen zhu fang, or Pearl Square, on the facade of People's Park Complex are often photographed from Temple Street in Chinatown. ST PHOTO: LIM YAOHUI In 2009, the building was again repainted – this time, in a brighter yellow and green scheme. People's Park Complex undergoing repainting in May 2009, when the orange and green facade (right) made way for a yellow and green scheme (left). PHOTO: ST FILE It is this yellow and green scheme that is currently being replaced with a red and white scheme. The progress of repainting works at People's Park Complex, captured on May 20. ST PHOTO: LIM YAOHUI Painters giving a new hue to People's Park Complex on May 20. ST PHOTO: LIM YAOHUI Architectural photographer Darren Soh, who has posted photos of the repainting works since early April, said he feels that the bright red being used is a very polarising colour, adding that 'you either love it or you don't'. 'Everything and everyone around People's Park Complex will now have a red hue when light is shining brightly on its facade,' Mr Soh said. Ng Keng Gene is a correspondent at The Straits Times, reporting on issues relating to land use, urban planning and heritage. Join ST's WhatsApp Channel and get the latest news and must-reads.

CDL posts $1.9 billion in Q1 sales revenue in Singapore property development
CDL posts $1.9 billion in Q1 sales revenue in Singapore property development

Straits Times

time20-05-2025

  • Straits Times

CDL posts $1.9 billion in Q1 sales revenue in Singapore property development

Overall, the revenue translates to an increase of 85 per cent in volume and 155 per cent in sales value. ST PHOTO: LIM YAOHUI SINGAPORE - Property developer City Developments (CDL) posted sales revenue of $1.9 billion for its property development segment in the Singapore market in the first quarter of 2025, driven by the launch of its joint venture condominium project, The Orie, in Toa Payoh. Overall, the revenue translates to an increase of 85 per cent in volume and 155 per cent in sales value, said the group in its operational update on May 20 for the quarter ended March 31. The group said that its other projects continue to register good sales including Lumina Grand, its executive condominium project in Bukit Batok, and The Myst at Upper Bukit Timah Road. In the United Kingdom, the group has obtained approval for a £1.1 billion (S$1.9 billion) residential-led mixed-use scheme in south-west London. In China, the group's wholly owned subsidiary registered a total sales value of 179.5 million yuan (S$33.2 million) from its sale of 86 residential, office and retail units. Office portfolio For its Singapore office portfolio, the group achieved a committed occupancy rate of 97.2 per cent, driven by high occupancy rates in South Beach, City House and King's Centre. All three of the group's wholly owned office assets recorded positive rental reversions. The majority of the expiring office leases for the year have also been renewed and negotiations for expiring leases in 2026 have commenced. On other hand, the group's office portfolio in China registered a committed occupancy of 52.7 per cent. The group said this reflected challenges in the office market and that it is actively pursuing opportunities to optimise its portfolio and exploring alignment with government-supported sectors. Hotel operations In the first quarter, Singapore hotels experienced a 16.7 per cent year-on-year decline in revenue per available room, or RevPar, to $153.70, due to lower average room rate and occupancy. The softer performance was partly attributed to a high base effect from several major events last year, such as the Taylor Swift concert in March 2024, which boosted visitor arrivals. In contrast, the rest of Asia saw a 7.9 per cent increase of its RevPar in Q1 compared with a year ago to $114. The increase was led by Taipei's strong performance in average room rate and occupancy, and improved occupancy at other South-east Asia hotels such as Manila and Jakarta. In its other markets, Australasia hotels saw its RevPar go up 10.9 per cent in the first quarter compared with a year ago, while Europe hotels saw a 7.4 per cent increase in RevPar over the same period. For its Singapore retail portfolio, the group registered a committed occupancy of 96.2 per cent for the first quarter. The group attributed this to strong tenant retention and resilient assets. Debt profile The group said it had a healthy debt expiry profile as at March 31. Its net gearing ratio stands at 72 per cent, and its interest cover is at 1.4 times. The group maintains 'strong' cash reserves of $2 billion and a 'robust' liquidity position with $3.8 billion in cash and available undrawn committed bank facilities. It added that despite concerns over macroeconomic uncertainties such as inflation and trade tensions, it is cautiously optimistic about the resilience of the property sector, given its diversified portfolio across geographies and asset classes. The counter ended $0.02 or 0.4 per cent lower at $4.73 before the announcement on May 20. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store