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Crowdfunding for charity: why mainland China leads Hong Kong in online giving

Online giving is changing charity in Asia. Crowdfunding, especially, changes the way the social sector operates, and its reach is growing rapidly. Nowhere is this more true than in mainland China, where crowdfunding has skyrocketed in recent years. According to the Ministry of Civil Affairs, in 2018, of the 8.46 billion yuan (US$1.22 billion) in donations made to charitable organisations, 3.17 billion yuan went to the 20 outline platforms available on the mainland. This is a 26.8 per cent… Source link

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Singapore 

Thomas Ong not involved in alleged misappropriation of charity funds in Cambodia, Singapore, Entertainment News

Thomas Ong has spoken — he’s not the one mentioned in a recent blog post alleging misuse of charity funds in Cambodia. The allegations came about when Cambodian educator and volunteer, Dork Silong, wrote on a volunteer travel blog that the annual $100,000 donations by a Singaporean actor to an NGO school in Siem Reap were misappropriated by the staff there. The money was used to purchase a Lexus car and hold lavish parties, Silong wrote. Many people speculated that he was referring to Thomas, who previously appeared on the news several…

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Singapore 

Singaporean climbs Mount Everest for charity, succeeds on second try, Singapore News

When signs of frostbite forced Mr Jeremy Tong to turn back when he was just 150 minutes away from the top of Mount Everest in 2017, the failure haunted him for two years. Last Wednesday, the Singaporean co-founder of an adventure company laid the ghost of his failure to rest by conquering the world’s highest peak. Achieving this feat was anything but easy. Coping with freezing conditions and extreme exhaustion was par for the course for anyone seeking to conquer Everest. But this time Mr Tong, 28, had to contend…

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How Xiaomi founder Lei Jun’s US$956m could be better spent – China’s richest should take charity to the next level, like Bill Gates

Lei Jun, the founder and chairman of Chinese smartphone maker Xiaomi, made the headlines last week when it was revealed that he had received a compensation package nearly equal to the company’s profit. For 2018, he took compensation of shares valued at US$956 million. Xiaomi’s adjusted net profit for the year was US$1.3 billion.Admirably, Lei has promised to devote all of these shares, after tax, to charitable purposes. But charity is not the same as philanthropy, and Lei’s remarkable donation… Source link

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Xiaomi founder Lei Jun earned almost as much as the company last year but pledged to donate it to charity

The founder of Chinese smartphone maker Xiaomi Corp received almost as much in compensation last year as the company made in profit.Xiaomi said in a filing to the Hong Kong stock exchange on Wednesday that Lei Jun, its chairman and chief executive, received a one-off compensation of 636.6 million B-class shares for 2018, currently valued at HK$7.5 billion (US$956 million) based on Tuesday’s closing share price.Xiaomi’s annual adjusted net profit for 2018 was 8.6 billion yuan (US$1.3 billion),… Source link

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Singapore 

Biker linked to hit-and-run was in Cambodia for charity ride, Singapore News

The biker wanted by the Cambodian authorities for questioning over a fatal hit-and-run accident was part of a Singapore charity convoy that visited the country, The New Paper has learnt. Her Singapore-registered BMW R1200 GS Adventure motorcycle was allegedly involved in the Feb 7 accident in which an 81-year-old cyclist was killed. She was part of a group of at least four bikers in Cambodia from Feb 5 to 11 after riding up to Koh Kong province as part of a “humanitarian ride” to help the elderly and less fortunate.…

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Hong Kong-listed companies donated US$2.1 billion to charity last year, an increase of 28 per cent on 2016

Companies listed in Hong Kong made record charitable donations last year to narrow the gap with their US counterparts, according to a report released on Wednesday by Sodata Analytics Foundation Association, a non-profit group that tracks corporate philanthropy. Led by property developers and financial institutions, 959 out of the 1,826 companies that trade on Hong Kong’s main board altogether donated HK$16.3 billion (US$2.1 billion) in 2017, a surge of 28 per cent over 2016. China Evergrande beats HSBC to top most charitable Hong Kong companies list in 2016 The average…

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