NKF: $289m reserves & $6.6m surplus for the year

We refer to the article “Revitalised NKF ready to come out of ‘tortoise shell’” (Straits Times, Oct 27).

It states that “The controversy took a heavy toll: Annual donations plummeted from $73 million in 2004 to $21 million in the past year.

In 2005, a series of three shows could raise as much as $28 million. The last shows were held that year, at a cost of $4 million to $5 million.

The number of individual donors has also fallen 46 per cent from about 280,000 a year to about 152,000.

Why is the tortoise sticking its head out now?

The turning point, said Mr Koh, was a gala dinner which NKF held in April for its 45th anniversary.

“When management proposed we should have a big event, I was a concerned whether the event would get support,” he said.

“A lot of people have given up supporting the NKF… But we were pleasantly surprised that we were able to raise $11.3 million.””

– According to NKF’s annual report – it had a net surplus for the year of $6.6 million and total funds (reserves) of $289 million.

S Y Lee and Leong Sze Hian

P.S. Come with your family and friends to the 5th Return Our CPF protest on 29 November 4 pm at Speakers’ Corner

https://www.facebook.com/events/796694730417598/

 

About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.