With a highly efficient, transparent and systematic listing system, Hong Kong has attracted companies from all over the world to expand their business horizons via raising funds and be listed in the Stock Market in Hong Kong. To encourage listed companies to re-invest into the local community, Hong Kong Exchanges and Clearing Limited (HKEx) has initiated "Stock Code Balloting for Charity Scheme" in 1999. Together with the Chest, HKEx has helped channel invaluable resources to the local social welfare services.
By making a donation of $300,000 to $1 million to The Community Chest, each participating company will be able to obtain an auspicious stock code upon successful listing on Growth Enterprise Market (GEM) or the Main Board. The Scheme has received overwhelming support from the corporate sector and over 120 listed companies have joined the Scheme and more than $112 million was raised for the needy.
HKEx and The Community Chest jointly held the "Stock Code Balloting for Charity Scheme" Cocktail Reception today (Monday) at The Ritz-Carlton Hong Kong to commend the generous contribution of all participating listed companies. The Honourable Henry Tang, Financial Secretary of HKSAR graced the ceremony as the Guest-of-Honour. Also presiding at the Reception were Charles Lee, Chairman of HKEx, Paul Chow, Chief Executive; Raymond Or, Executive Committee Chairman of The Community Chest; Dennis Sun, Campaign Committee Chairman, and the directors of HKEx and the Chest.
"In the current campaign year, contributions from the Scheme reached $16.5 million - accounting for about 11 per cent of total funds raised by the Community Chest," said Charles Lee, Chairman of HKEx. "This heart-warming result reflects the great generosity of our listed companies," Mr Lee added.'
Raymond Or, Executive Committee Chairman of The Community Chest, highly commended HKEx for introducing "Stock Code Balloting for Charity Scheme", and extended his gratitude to all parties concerned in making the scheme an enormous success. "Companies and communities are interdependent. We hope that your involvement in this scheme has furthered your interest in participating in other Chest events. By investing in the community, not only do we sustain the well-being and stability of our city, but we also pave the way for its long-term success." said Mr Or. Mr Or also appealed to representatives of intermediaries to support the scheme and benefit the needy in Hong Kong.
More than three hundred business elite and community leaders gathered at the Reception to toast for the success of the Scheme. Children from one of the Chest's member agencies ¢w Christian and Missionary Alliance Lei Tung Nursery School also extended their thanks to the donors with a dance performance.
Thanks to a generous annual grant from The Hong Kong Jockey Club to support the administrative expenses of The Community Chest, all donations can be allocated to 142 social welfare agencies, without any deduction, to help the many needy and disadvantaged in Hong Kong.