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SINGAPORE: A relief fund of S$100,000 is being set-up by a Singapore-based company which deals with land and real estate development in Myanmar.
Yoma Strategic Holdings Ltd has over 4,000 staff in the country and many have had their homes destroyed by Cyclone Nargis, the worst natural disaster to hit the country.
The company said on Thursday its relief plans for its affected staff in cyclone-stricken Myanmar will be kicked off by the company’s Board of Directors.
They will give up 10 per cent of the proposed Directors’ fees for this financial year, which will go into a fund to assist its staff and their families affected by the cyclone.
Extra funding will be used to help other victims of the disaster.
The company told Channel NewsAsia that it has yet to work out just ways to distribute aid to the victims, but has appointed one of its Myanmar company directors, Kyi Aye, to head a committee to oversee the proper distribution and utilisation of the relief fund.
The company said none of its staff in Myanmar was killed or seriously injured when the cyclone pounded the country last weekend, but nonetheless, it is distressed at the severe damage and loss of property and life amongst the people of Myanmar.
Directors of the company also said they expect to suffer minimal impact on their operations in Myanmar as a result of the cyclone.
Members of the public who want to help can contact Company Secretary Lee Kam Seng at kslee@yomastrategic.com.
Cyclone Nargis tore through Myanmar last weekend, killing more than 80,000 and rendering hundreds of thousands homeless.
- CNA/yb
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