CIMB Foundation pledges RM75mil for society
KUALA LUMPUR: The CIMB Foundation has pledged RM75mil to the development of sports, community and education as part of its corporate social responsibility programme.
CIMB Group chief executive officer Tengku Datuk Seri Zafrul Aziz Tengku Abdul Aziz said the sum was 1% of the company’s before tax profits that will be channelled to the appropriate target groups.
“We have to increase our allocation by one-fold from RM35mil to RM75mil for the betterment of society as part of our intention to give back something to the public.
“We will channel these funds through our foundation in the fields of education, sports and community development.
“Our branches nationwide will identify the target groups that need financial assistance and we will go from there to vet and approve the allocations for the deserving parties,” he told a press conference at the launch of a partnership between CIMB Foundation and Junior Cycling Malaysia (JCM).
This initiative was in conjunction with the TN50 dialogue session with CIMB Youth here yesterday.
Tengku Zafrul said that the amount to be donated would depend on the annual before tax profits made by CIMB Group and that the programme would continue as long as the bank was making profits.
Youth and Sports Minister Khairy Jamaluddin, who was at the press conference, said he was happy to see the CIMB Foundation and JCM collaboration which, he added, would help nurture a pool of future world-class cyclists like Mohd Azizulhasni Awang, the keirin world champion and Olympic bronze medallist.
Khairy hoped that more Malaysian-bred cyclists would break world records in the future.
CIMB Foundation’s partnership with JCM will run for a period of three years from 2018 to 2020 to nurture young talents in cycling, through the CIMB-JCM Junior Development Programme.
JCM is an initiative run by the ministry and the National Sports Council to develop cycling in Malaysia at all levels.