The DBS Foundation is committed to supporting vulnerable groups through various programs and volunteer services, while supporting the growth of social enterprises and small and medium-sized enterprises (SMEs) that bring positive change to society. In Taiwan, DBS Foundation announced partnerships with Huashan Social Welfare Foundation and Money Trainer Financial Literacy Consulting to implement projects targeting the elderly and financially disadvantaged. In addition, it announced the winners of 2024 DBS Foundation Grant, with a total of 22 winners, including three from Taiwan: Silver Gate, Duofu Holidays and DOMI EARTH.
According to the National Development Council (NDC), Taiwan will become a super-aged society this year, with one in five residents expected to be over the age of 65. While aging is typically seen as a societal challenge, the DBS Foundation believes it can be an opportunity and is looking for innovative solutions that enhance the quality of life, improve healthcare and nutrition, combat social isolation and build a multigenerational workforce for the vulnerable.
DBS Foundation and DBS Group Strategic Marketing and Communications head Karen Ngui (魏洪英) said that since its establishment in 2014, DBS Foundation keeps investing resources to create positive impact. Recognizing that societal issues such as inequality and ageing are increasingly critical in many parts of Asia, DBS has pledged to commit up to S$1 billion (US$731 million) over 10 years, supported by 1.5 million employee volunteer hours, to help vulnerable communities, who are often hardest hit. With its dual focus on providing essential needs and fostering inclusion, the DBS Foundation’s initiatives seek to provide short-term relief for those in need, whilst equipping them with the know-how, tools, and opportunities to build towards a better future over time. The first wave of action since its upsized commitment involves implementing 15 new initiatives across its six key markets (Singapore, Hong Kong, Taiwan, China, India and Indonesia) to uplift the lives and livelihoods of the vulnerable.
Photo courtesy of DBS Bank Taiwan
DBS Taiwan chief executive officer Ng Sier Han (黃思翰) said that as Taiwan’s largest foreign bank and the leader in sustainability, DBS continues to embed ESG in its core business, and is committed to local environmental sustainability and social welfare with the support of DBS Foundation. To further meet the essential needs of vulnerable communities and help them build a more financially resilient future, starting this year, DBS Foundation will inject a total of S$6 million and partner with Huashan Social Welfare Foundation and Money Trainer Financial Literacy Consulting to build a more inclusive society.
Huashan has long provided home-based services such as care visits, meal delivery, medical accompaniment, and home repair for disadvantaged elderly through more than 400 community care stations across Taiwan. DBS Foundation’s funding will support Huashan in expanding its network by setting up six new stations located in Keelung, New Taipei City, Hualien and Taitung.
DBS employee volunteers will also be activated to support elderly with dementia and disabilities by helping them to access the daily food and resources they need in their communities, strengthen their mental resilience by delivering seasoning greeting and companionship, and enjoy a dignified second half of their lives. This is expected to benefit about 5,900 seniors in three years.
Money Trainer Financial Literacy Consulting is dedicated to promoting financial literacy, helping vulnerable families to identify their financial issues, plan their finances, and ultimately escape poverty. DBS Foundation will work with them to build an AI-driven financial assessment model and platform. This will provide social workers and economically disadvantaged families with professional financial advice, solutions, and a comprehensive database of social welfare resources. This innovative partnership is expected to improve the financial health of 270,000 economically vulnerable individuals within three years, further enhancing overall financial literacy and economic resilience in society.
In addition, DBS Foundation announced the 2024 Grant awardees. 22 businesses for impact from 6 markets have been awarded S$4.5 million in grants. Among the winners, three Taiwan-based enterprises, Silver Gate, Duofu Holidays and DOMI EARTH, have also been recognized and will utilize the grants to expand their business scale and benefit more vulnerable communities.
The 2024 DBS Foundation Grant received over 1,500 applications from social enterprises and SMEs across Asia. In addition to using the grant to expand their operations and optimize their products and services, the winning companies will receive resources and guidance from DBS.
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Property transactions in the nation’s six special municipalities plunged last month, as a lengthy Lunar New Year holiday combined with ongoing credit tightening dampened housing market activity, data compiled by local land administration offices released on Monday showed. The six cities recorded a total of 10,480 property transfers last month, down 42.5 percent from January and marking the second-lowest monthly level on record, the data showed. “The sharp drop largely reflected seasonal factors and tighter credit conditions,” Evertrust Rehouse Co (永慶房屋) deputy research manager Chen Chin-ping (陳金萍) said. The nine-day Lunar New Year holiday fell in February this year, reducing
New vehicle sales in Taiwan plunged about 37 percent sequentially last month as the long Lunar New Year holiday and 228 Peace Memorial Day holiday cut short the number of working days, along with the lingering uncertainty over import tax cuts on US vehicles, market researcher U-Car said in a report yesterday. New car sales last month totaled 22,043, slumping from 35,073 units in January and down 19.89 percent from 37,515 in February last year, U-Car data showed. Sales of imported luxury cars, led by Mercedes-Benz, plummeted about 45 percent to 3,109 units last month from 5,663 units in the previous month,
RSS