Encouraging corporate social responsibility to build a better Singapore for all

Mr Neo Tiam Ting, President of Singapore Vehicle Traders Association

My former Parliamentary colleague, Mr Ang Mong Seng

Distinguished guests, ladies and gentlemen,

Boys and Girls

1. A very good evening to all!1. I am indeed very honoured and very privileged to be invited back to this beautiful place again to celebrate the Chinese New Year with all of you. Today is the 13th day of the Lunar New Year and I would like to take this opportunity to wish all of you happiness, prosperity, good health, good business, and good fortune.

2. SVTA has been playing a very important and active role in supporting needy students from humble families, regardless of their race, language or religion. And they have been doing this since 1993. That is to provide scholarships and bursaries to these deserving students. As mentioned by President Neo just now, I am very heartened to know that SVTA has helped more than 1,000 students with bursaries and scholarships, with a total sum of more than $640,000 since 1993. And this evening, it is my honour and privilege to able to present yet another batch of scholarships and bursaries to 66 students. And the scholarships and bursaries amount that will be given out tonight will be more than $42,000. So I would like to take this opportunity to congratulate all the award recipients!

3. Our education system aims to help our students to discover their own talents and potential, regardless of their background. The Ministry of Education has been strengthening the financial assistance schemes that we cater to such students. The important thing is to encourage them to continue pursuing their studies and also to have the additional resources to take part in extra-curriculum activities without worrying about financial implications.

4. On top of this, the Government will continue to ensure that our educational opportunities will be provided and open to all. However, Government alone will not be able to undertake this important task of educating our next generation. So we will also need the support of civic organisations, grassroots organisations and trade associations like our SVTA. Together, the people from the public, private and people sector will be able to provide a very strong social safety net to help our needy students and families, so that they will be able to continue with their studies, to continue to be actively engaged in employment, and will be able to retire in Singapore with a peace of mind.

5. SVTA's generosity and commitment in helping the less-privileged is certainly highly commendable. Increasingly, the companies in the private sector are realising that they cannot just run a business based on a profit alone. At certain point of time, there is a need for them to step forward in steering the corporate social responsibility to do something to contribute back to the society, to help the deserving students, to provide opportunities to the needy workers and also to give a hand to those senior citizens who require additional help.

6. At my Ministry, the Ministry of Culture, Community and Youth (MCCY), we are continuously working with our partners in the people and private sector, as we believe we can do more to make Singapore an endearing home for all, not just for the businesses but for everyone. All of us have a stake in Singapore.

7. And therefore, we put in place more plans for financial incentive schemes to encourage companies to make contributions for worthy charitable cause to society. Quite a few years ago, the Government has given tax deductions of 250 per cent for every dollar contributed by individuals and corporates. And just last week, our Finance Minister announced that he will raise the tax deductions from 250 per cent to 300 per cent. The purpose is to encourage Singaporean companies to contribute to the society so as to make Singapore a better home for all.  These are some existing effort in promoting corporate philanthropy. There are other schemes and initiatives available.

8. Before I conclude, let me leave a word of advice to all the bursary and scholarship award recipients. No matter what you choose to do or study in future, remember one thing. If you don't ever try the impossible, you will never know what is possible. Fifty years ago, nobody thinks Singapore will survive when we gained our independence in 1965. However, we soldiered on with great determination. We prove to the world that we can change the world. And 50 years later, we are celebrating our golden jubilee. Our younger generation, that is our students, you're the future of Singapore. Do whatever you think is good for the country, good for the society, and good for the people. Chase your dreams, do whatever you want to. Somewhere, somehow, the government, the private sector and the trade associations will be there to support you in your quest for excellence. Remember, Singapore is made of all the people. If everybody can perform well, the future for Singapore will be bright.

9. On this note, I would like to wish all our award recipients bright future, study well, and have good results. I also want to wish all our business partners here a rolling business. I look forward to coming back next year and see more students receiving the bursaries and scholarships, and also see more companies making big profits and in return, will contribute more to the society. Lastly, Happy New Year to all! Thank you.