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Straits Times
7 days ago
- Business
- Straits Times
Charity concert featuring young performers raises $2.3 million for President's Challenge
President Tharman Shanmugaratnam (second from left) with (from left) ABS director Ong-Ang Ai Boon, UOB chief executive Wee Ee Cheong and Credit Bureau Singapore executive director William Lim at Victoria Concert Hall on June 3. ST PHOTO: ARIFFIN JAMAR SINGAPORE - To mark Singapore's 60th year of independence, the Association of Banks in Singapore (ABS) – together with its member banks and industry partners – and its associate company Credit Bureau Singapore (CBS) have raised $2.3 million for the President's Challenge. The funds came from donations and ticket sales for a charity concert that was held at Victoria Concert Hall on June 3. The concert is one of the industry's initiatives that complement the corporate social responsibility (CSR) programmes of the individual banks. It was organised together with Wolfgang Violin Studio Singapore. The President's Challenge helps to raise funds for many social service agencies to run their programmes. The concert, titled 'SG60 Celebrate! Honour the Past, Inspire the Future', featured a 60-member ensemble of young musicians aged three to 15 on the violin, viola and cello. Among the budding performers from Wolfgang Violin Studio Singapore were Mark Chia, a Primary 6 pupil from Temask Primary School, and Isabel Heng, a Secondary 3 student from Methodist Girls' School. The ensemble was guided by Singapore's own virtuoso violinist Min Lee. In 1995, at just 12 years old, Lee had performed as a soloist at the Singapore Symphony Orchestra's first Presidential Charity Concert. President Tharman Shanmugaratnam was guest of honour at the June 3 concert, which drew an audience of 660. The concert programme was arranged by acclaimed international artiste-composer Aleksey Igudesman. In a statement, Ms Helen Wong, chairman of ABS, said: 'The growth and development of the financial sector is inextricably tied to Singapore's success, and ABS is pleased that banks have come together as an industry to organise this charity concert to celebrate SG60 and raise funds for the President's Challenge, like we did in 2013 and 2003. 'Through the years, ABS has galvanised the banking sector for various industry charity programmes that complement individual banks' CSR efforts.' Mr William Lim, CBS' executive director, added: 'This concert is a tribute to Singapore's journey of resilience, unity and progress… We are pleased to be investing in Singapore's future through strengthening the financial industry and giving back to the community.' Join ST's WhatsApp Channel and get the latest news and must-reads.
CNA
19-05-2025
- Business
- CNA
Adults over 54 years old borrowing more, repaying less: Credit Bureau Singapore report
Adults over the age of 54 are borrowing more and struggling to repay the loan, according to a new report by Credit Bureau Singapore. Comparing Q4 2024 with Q1 2025, secured overdraft — a type of loan backed by assets — rose from about S$237,000 to over S$293,000. That's a near 24% increase and the most significant change amongst all age groups. Those over 54 are also taking on more real estate loans, with an almost 5% increase. Delinquency rates, whereby payment is more than 30 days past due, is at 1% — the highest amongst all age groups.
