Lim Cian Yai | 07 Jan 2016 00:30
They have donated billions either through their personal foundations or those set up by their listed entities
The saying goes that it is better to give than to receive and many Malaysian tycoons and listed companies are doing just that. The tycoons have channelled billions of ringgit in cash and kind to charities either through their personal foundations or those set up by their listed entities. Sometimes, the listed companies even donate to their personal foundations.
Among the tycoons who have set up foundations are Tan Sri Syed Mokhtar Albukhary (Yayasan Albukhary), T Ananda Krishnan (Yu Cai Foundation, The Malaysian Community and Education Fund, and Yayasan DayaDiri), Robert Kuok (Kuok Foundation), Tan Sri Jeffrey Cheah (Jeffrey Cheah Foundation) and Tan Sri Azman Hashim (Azman Hashim Foundation.
Listed companies with foundations include IOI Corporation Bhd (Yayasan Lee Shin Cheng), Top Glove Corporation Bhd (Top Glove Foundation), Hong Leong Group (Hong Leong Foundation), SP Setia Bhd (SP Setia Foundation), and YTL Corp Bhd (YTL Foundation). Then there are some listed companies which have taken the route of setting up a foundation to run corporate social responsibility (CSR) programmes. One example is Yayasan Astro Kasih.
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