Latest news with #PropNex
Business Times
a day ago
- Business
- Business Times
PropNex commits more than S$30 million to philanthropic initiatives, funding education
[SINGAPORE] Real estate agency PropNex announced on Tuesday (Jul 15) its commitment of more than S$30 million towards philanthropic initiatives, as well as the launch of PropNex Foundation to fund student education. It will make a landmark contribution of S$6 million to Community Chest (ComChest) over a 12-month period – its largest donation to the charity in the real estate agency's history. This amount comprises voluntary pledges of a portion of sales commissions by PropNex salespersons. PropNex also signed a memorandum of understanding with ComChest to donate S$1.5 million annually from 2025 to 2027. This supports the SG Gives Enhanced Matching Grant, where the government matches up to S$1.50 for every S$1 donated – amounting to at least S$250,000 in matching funds annually. There is a minimum commitment period of three years. The funds will go towards helping beneficiaries under ComChest's programmes – in particular children with special needs, children with physical and sensory challenges, as well as underprivileged youth and families in need. Chew Sutat, chairman of ComChest, said: 'Programmes such as special needs education, student care centres, counselling, financial and social support can provide much-needed assistance to help families achieve stability and resilience.' PropNex has been collaborating with ComChest since 2013, donating more than S$10 million to its programmes. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Ismail Gafoor, executive chairman of PropNex, said: 'Over the years, we have supported vulnerable groups aligned with our values, such as children, families and individuals with special needs, through both financial contributions and volunteer efforts.' The announcements were made as part of PropNex's 25th anniversary celebrations on Thursday. In April this year, PropNex worked with ComChest, Families for Life Council, and the Ministry of Social and Family Development to launch the PropNex Family Zone at Gardens by the Bay. The agency said this is Singapore's first inclusive, family-themed playground that spans more than 64,000 square feet and comprises a community garden, event lawn and upcoming community stage in 2026. The playground incorporates educational and inclusive play elements. PropNex Foundation On Thursday, the real estate agency launched PropNex Foundation to fund student education. The foundation has an initial endowment of S$10 million, and co-founders Gafoor and Alan Lim have pledged to grow the fund to S$25 million over the next 10 years. PropNex Foundation will support underprivileged students and advance educational initiatives. Its beneficiaries are from primary school to university. As a start, the foundation has awarded S$254,000 in the form of PropNex Education Awards to 160 students to help them pursue their educational goals. Primary and secondary students received S$1,000; junior college, Millennia Institute and Institute of Technical Education students received S$2,000; polytechnic students received S$3,000; and students from autonomous universities received S$4,000. To be eligible, applicants' gross monthly household per capita income cannot exceed S$2,000, and gross monthly household income could not exceed S$7,500. 20-year-old Branwenn Tang, a beneficiary from Singapore Polytechnic pursuing a diploma in food science and technology, said she aims to use the funds to kickstart her entrepreneurial journey. Outside of her studies, she is interested in starting a business selling crocheted flowers.
Straits Times
a day ago
- Politics
- Straits Times
Syrian Druze leader urges local fighters to confront incoming government troops
SWEIDA - A leading Druze spiritual leader accused the Syrian leadership in Damascus of bombarding the southern city of Sweida despite having reached an agreement to quell violence, and he called on fighters to confront Syrian troops entering the city. The video statement by influential Druze Sheikh Hikmat al-Hajri on Tuesday poses a challenge for the government of President Ahmed al-Sharaa, whose forces toppled former leader Bashar al-Assad last December and is seeking to bring all of Syrian territory under centralised rule after nearly 14 years of war that had left the country divided into separate enclaves. For months, Druze leaders said they did not trust the new Syrian government and pushed back against the presence of their troops, saying they would secure Sweida with their own local fighters. Neighbouring Israel also conducted strikes on Syrian troops in Sweida and near Damascus with the stated aim of protecting the Druze minority, which is an offshoot of Islam with adherents in Syria, Lebanon and Israel. But earlier this week, a new round of heavy fighting broke out between Druze armed groups and Bedouin fighters in Sweida province, leaving dozens dead and thousands displaced. Syria's defence and interior ministries dispatched units to quell the fighting and exert control over the province. The Druze spiritual leadership said in a written statement on Tuesday morning that it would allow Syrian forces to enter Sweida city to stop the bloodshed, calling on armed groups to surrender their weapons and cooperate with incoming troops. 'TOTAL WAR OF EXTERMINATION' Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties Singapore Man charged with attempted murder of woman at Kallang Wave Mall Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Singapore Real estate firm PropNex donates $6 million to Community Chest for 25th anniversary Singapore Sengkang-Punggol LRT gets 15.8 per cent capacity boost with new trains Singapore Air India crash: SIA, Scoot find no issues with Boeing 787 fuel switches after precautionary checks Singapore $230,000 in fines issued after MOM checks safety at over 500 workplaces from April to June Multimedia From local to global: What made top news in Singapore over the last 180 years? But hours later, al-Hajri, who has been strongly opposed to the new leadership in Damascus, said the statement had been "imposed" on them by Damascus and that Syrian troops had breached the arrangement by continuing to fire on residents. "We are being subject to a total war of extermination," he said in a recorded video statement, calling on all Druze "to confront this barbaric campaign with all means available". Convoys of Syrian army tanks, trucks and motorcycles entered parts of Sweida city by mid-morning and were continuing to fire on neighbourhoods there, a Reuters reporter in Sweida said. The reporter said Israeli warplanes could be seen flying above the city, but there were no immediate reports of strikes. On Monday, Israel's military said it had carried out several strikes on tanks approaching Sweida "to prevent their arrival to the area" because they could pose a threat to Israel. Israel said earlier this year that it would not allow Syria's new army to deploy south of Damascus and that Sweida and neighbouring provinces should make up a demilitarized zone. But some of those tensions had calmed after Israel and Syria began direct talks to prevent conflict in the border region between the two longtime foes. REUTERS
Straits Times
a day ago
- Straits Times
Man charged with attempted murder of woman at Kallang Wave Mall
Find out what's new on ST website and app. Chua Jing Yuan had allegedly committed the attack on July 14 at about 1.20am in the mall. SINGAPORE – A man who allegedly attacked a woman with a knife at Kallang Wave Mall has been charged with attempted murder. Chua Jing Yuan, 26, was handed the charge in a district court on July 15. The Singaporean had allegedly committed the attack on July 14 at about 1.20am in a walkway in the mall. He was said to have slashed Ms Choong Wen Ting, 29, on the neck and stabbed her in the chest with a knife, with the intention of murdering her, according to charge sheets. Court documents did not state the reasons for his purported actions. Police said on July 14 that Chua was disarmed and detained by members of the public before being arrested. The police added that they would seek a court order to remand Chua for psychiatric assessment. Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar Singapore Real estate firm PropNex donates $6 million to Community Chest for 25th anniversary Singapore Sengkang-Punggol LRT gets 15.8 per cent capacity boost with new trains Singapore Air India crash: SIA, Scoot find no issues with Boeing 787 fuel switches after precautionary checks Singapore $230,000 in fines issued after MOM checks safety at over 500 workplaces from April to June Multimedia From local to global: What made top news in Singapore over the last 180 years? Ms Choong was taken to the hospital, where she is in a stable condition. The Straits Times understands that Chua also sustained injuries during the incident. He was charged in hospital in proceedings that were not open to the media. If convicted, he can be jailed for life, or up to 20 years with a fine and caning.
Straits Times
a day ago
- Business
- Straits Times
Real estate firm PropNex donates $6 million to Community Chest for 25th anniversary
Find out what's new on ST website and app. (From left) PropNex co-founder Alan Lim, Community Chest chairman Chew Sutat, PropNex executive chairman Ismail Gafoor and PropNex CEO Kelvin Fong at a MOU-signing ceremony on July 15. SINGAPORE – PropNex, Singapore's largest real estate agency, will make a $6 million donation to the Community Chest to commemorate SG60, in addition to contributions to other charitable initiatives, including The Straits Times School Pocket Money Fund (STSPMF). The donations were announced on July 15 by the firm's executive chairman Ismail Gafoor, at a ceremony for the company's 25th anniversary celebration. The event, which was hosted at the Marina Bay Sands convention centre, was attended by President Tharman Shanmugaratnam. The $6 million donation, to be made over the span of 12 months, is the company's single largest contribution to the charity. In addition, PropNex has pledged to donate $1.5 million annually from 2025 to 2027. The property firm first started donating to Community Chest - the philanthropic arm of Singapore's National Council of Social Service - in 2013, and has given the charity over $10 million in the last 12 years. Community Chest supports children with special needs, children at-risk, and in low-income families, along with other causes. Since 2009, PropNex has been supporting organisations focused on underprivileged children and education, including Hair for Hope and Food-For-Families. Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw acts against 4 law firms, 1 lawyer over seized properties Singapore Air India crash: SIA, Scoot find no issues with Boeing 787 fuel switches after precautionary checks Opinion What we can do to fight the insidious threat of 'zombie vapes' Singapore $230,000 in fines issued after MOM checks safety at over 500 workplaces from April to June Business 'Some cannot source outside China': S'pore firms' challenges and support needed amid US tariffs Opinion Sumiko at 61: Everything goes south when you age, changing your face from a triangle to a rectangle Multimedia From local to global: What made top news in Singapore over the last 180 years? Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years Mr Gafoor said the firm places an emphasis on its employee volunteering. He pointed out that employees would organise events for organisations such as the Chen Su Lan Methodist Children's Home. In 2024, PropNex's employees brought the home's children to an outing at Universal Studios. 'Giving money is easy,' said Mr Gafoor. 'It must be a culture within the organisation.' Mr Chew Sutat, chairman of Community Chest, said this was an example of sustainable philanthropy, as it 'is not just about dollars and cents – it's also about time.' Separately, Mr Gafoor also announced that PropNex has set up the PropNex Foundation, a fund which would support the education needs of underprivileged students. To launch the foundation, some $254,000 in education grants will be awarded to 160 students in Singapore in 2025. At the event, Mr Gafoor said his dedication to philanthropy was inspired by his father's journey to build a better life for him and his five siblings as a newspaper delivery man. 'My dad came from nothing, no education. He's a survivor. He came to Singapore and made a difference. I wanted to bring the same ethos to everyone,' he said. PropNex executive chairman Ismail Gafoor presenting a cheque for The Straits Times School Pocket Money Fund to The Straits Times associate editor Zakir Hussain on July 15. ST PHOTO: NG SOR LUAN Those childhood stories can also be found in Mr Gafoor's new memoir, 'I Am Not Good Enough', which was also launched on July 15. Mr Gafoor said profits from the book will be donated to the Straits Times School Pocket Money Fund, which provides pocket money to children from low-income families. He also made an initial donation of $25,000, and presented a mock cheque to Mr Zakir Hussain, a board trustee of STSPMF and ST associate editor. At the event, Mr Gafoor also announced that he would step down as PropNex's CEO and will be the firm's executive chairman going forward. He added that deputy chief executive Kelvin Fong will take over as CEO.
Business Times
a day ago
- Business
- Business Times
Kelvin Fong appointed PropNex CEO; Ismail Gafoor remains as executive chairman
[SINGAPORE] Real estate agency PropNex on Tuesday (Jul 15) announced that Ismail Gafoor will be stepping down as chief executive officer, effective immediately, with deputy CEO Kelvin Fong taking on the role. Ismail, 61, will remain in the company as executive chairman and continue to be involved in guiding PropNex's strategic direction, stakeholder engagement and board leadership. 'Stepping down as CEO is a deeply personal and meaningful milestone after 25 years of building PropNex from the ground up… As executive chairman, I will continue to guide the company strategically and support Kelvin and the leadership team with the same energy and focus I've always had,' he said. Fong, 50, has more than 20 years of experience in the real estate industry. He joined PropNex in 2002 and was appointed executive director in 2018, before being promoted to deputy CEO in August 2023. In his new role, Fong will oversee the company's day-to-day operations and expansion efforts locally and regionally. 'As CEO, I will continue to empower our salesforce, innovate our services, and deepen our engagement with consumers, to enhance operational effectiveness,' he said, adding that PropNex has a 'strong foundation' and is 'well-positioned for its next era of growth'. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up At a press conference on Tuesday, Fong added that he hopes the number of agents in PropNex increases under his leadership, and he aims to continue advancing the company's technologies. The company said: 'The separation of these roles enhances corporate governance by formalising the division between oversight and management, thereby ensuring an appropriate balance of power, increased accountability, and enhanced capacity of the company's board for independent decision-making.' This leadership transition was one of the announcements made at the press conference at Marina Bay Sands, which was also held to commemorate PropNex's 25th anniversary. Ismail also launched his self-enrichment book titled I Am Not Good Enough on the same day, which reflects on his entrepreneurial journey. PropNex was started by Ismail, along with his co-founders, through the merger of several smaller real estate agencies in 2000. It is listed on the Singapore Exchange and has a market capitalisation of almost S$900 million. The company's salesforce today exceeds 10,000.
