SINGAPORE: A new foundation established by Singapore-based fintech firm Aleta Planet has donated S$100,000 to the Mediacorp Enable Fund, the company said on Friday (Oct 16) in a media release.
Aleta Planet announced on Friday that the foundation will make donations to various charities, aiming to "create a positive impact on society at a time when the COVID-19 pandemic has adversely affected many livelihoods".
It will support the needs of the elderly and children in the local community, with an initial commitment of S$200,000, said the company.
The first of such donations is S$100,000 to the Mediacorp Enable Fund, a community fund administered by SG Enable that aims to help build a society where people with disabilities, including the elderly and children, "are recognised for their abilities and are able to lead full, socially integrated lives".
SG Enable chief executive officer Ku Geok Boon said: “We are deeply grateful to Aleta Planet Foundation for their strong spirit of charity and choosing the Mediacorp Enable Fund to make their first donation.
"The generous contribution will provide much-needed financial assistance in meeting the last mile needs of persons with disabilities, as well as to help them fulfil their aspirations in life.”
The Aleta Planet Foundation said that as a donor-advised fund, it will work with non-profit organisation Community Foundation of Singapore to identify existing needs of the elderly and children with disabilities.
This will enable the foundation to connect with suitable charity partners as well as manage the funds it receives.
CEO of the Community Foundation of Singapore Catherine Loh said: “We look forward to closer collaboration with the Aleta Planet Foundation to identify gaps in the community so as to foster more effective giving and amplify the positive impact they have on our society.”
Aleta Planet Foundation said its support for the elderly "will go particularly towards those abandoned by their families and those having to work despite their frailties".
It will also focus on children with disabilities and those from low-income families whose parents "have little means to help them reach their full potential".
Aleta Planet chairman and group CEO Ryan Gwee said that contributions to the foundation will increase over time "as part of a sustainable corporate giving culture".
“As Aleta Planet has reached a level of growth, we feel that it is now fitting for us to give back to the community in which we operate," said Mr Gwee.
"This is especially timely amid a pandemic and recession that have created considerable hardship for the most vulnerable groups living on the fringes of our society.”