Singapore-owned PhillipBank has partnered with Kredit Microfinance Institute (Kredit) to raise more than $13,000 to aid some 300 Cambodia flood-hit victims following recent inundation that killed at least 30 people in Steung Treng and Kratie provinces in Cambodia.
Initiated through a campaign called “1+1 and 1+2”, donations were solicited from staff and customers of the financial institutions.
The Cambodia-based PhilipBank matched dollar for dollar the donations contributed by staff and customers, while one of Cambodia’s leading microfinance institutions, Kredit, matched every dollar donated with two, according to a joint press release issued by the institution in late August. The total donated came to $13,513.68.
“This initiative is not only to run the corporate social responsibility campaign of the PhillipBank and Kredit, which align with the company’s vision and corporate values to contribute back to society and the help those in distress, but also to encourage the individual social responsibility on the part of our staff and customers to contribute back to the society on the individual level,” Han Peng Kwang, general manager of PhillipBank, is quoted as saying in the release.
Additionally, the campaign has garnered support from members of the Singapore Club Cambodia who donated about $2,833.58 in cash, as well as canned food, to survivors of the flooding in the two Cambodian provinces.
“The donation from the Singapore Club is about friendship and helping the flood victims, “said club president Ng Chor Yee. “We wish all the flood victims to be sufficiently cared for.”
Additionally, LSH (Cambodia) Pte Ltd., one of Singapore’s largest food importers, donated about 50 cartons of canned pork luncheon meat, 62 cartons of Lactel Milk and 70 cartons of Lactel Chocolate dessert to the victims.
“We are clear that the flood victims need support quickly, both emotionally and with material help” said Kredit MFI CEO Chan March at the time, adding, “our donation will help them to get through this tough time until they can get back to normal lives.”
Kredit Microfinance Institute, which by the end of 2017 had 1,662 staff and assets worth $221 million, was established in 1993 by World Relief US and has since expanded to 83 offices in 20 Cambodian provinces. It reportedly donates 5 to 10 per cent of its profits to charity annually.
PhillipBank is an integrated financial house with offices in 17 countries around the world and has been doing business in Cambodia since 2009 and currently operates six branches in Phnom Penh.
The Singapore Club Cambodia provides a monthly social venue for business owners, professionals, NGO volunteers, and others from Singapore to “network and provide mutual support”.
Feature video Piseth Heng
- PHILLIP BANK: A SINGAPORE BRIDGE TO CAMBODIA ( Khmer Times)
- Microfinancer Prasac looking to partner up with Korean giant (The Phnom Penh Post)
- “1+1 and 1+2 Flood Donation Campaign to 300 Victims at Kratie and Steung Treng from Phillip Bank Plc and KREDIT Microfinance Institution and Singapore Club Cambodia” (Kredit)
She previously covered police rounds for Philippine Daily Inquirer as a trainee before becoming editorial staff at Gospel Komiks under the Communication Foundation for Asia (CFA-MG), Santa Mesa, Manila where she wrote lifestyle and trending fashion and styles articles.