Sat, 12 Mar 2005


Singapore firms 'less generous'

SINGAPORE: Singapore firms are less generous in giving to charity than their counterparts in the U.S., Canada and the UK, a survey said on Thursday.

City-state firms donated 0.21 percent of their pre-tax profits to charitable causes in 2003, compared to 1.6 percent for the U.S. companies, 1.03 for Canadian firms in 2000 and 0.95 for UK companies in 2002, the most recent years for which figures were available.

The findings of the survey, commissioned by the National Volunteer & Philanthropy Centre (NVPC), were published in The Business Times.

"The figure of 0.21 percent gives cause for serious reflection," NVPC chief executive Tan Chee Koon was quoted as saying.

He said companies can afford to be much more generous.

Forty-two percent of firms queried said there was no reason why they should not give more. Twenty percent cited profitability and another 19 percent lack of time. -- DPA