SGX Bull Charge, the flagship charity initiative of Singapore Exchange that raises money for charities supporting underprivileged children and families, the disabled and the elderly, is going virtual this year as the Covid-19 pandemic puts a stop to mass gatherings.
For the first time, SGX's annual charity run has been transformed into a two-week virtual fundraiser to prioritise the well-being of participants as they go the extra mile for a good cause. Participants can run at their own pace and space in the two weeks from October 30 to November 13 and the event is open to both local and international runners, SGX said.
The 17th annual SGX Bull Charge Charity Run will comprise a 5 km virtual "Mass Run", with the aim of participants achieving a collective distance of 100,000 km, and a virtual 3 km "Chief Challenge" run by chief executives and company heads.
SGX plans to match contributions dollar for dollar up to S$1 million and will donate another S$5 for each kilometre run, up to the Mass Run target of 100,000 km.
Last year’s run attracted 6,000 participants from South-East Asia’s financial community and raised more than S$3.4 million.
Partnering with Community Chest, Singapore's National Council of Social Service’s fundraising arm, all proceeds from this year's run will be channelled to a range of charities and social welfare organisations. These include AWWA Ltd., Autism Association (Singapore), Fei Yue Community Services, HCSA Community Services, and Shared Services for Charities.
"Given the challenges the world is facing today, it has become even more important for us to look after each other," said Loh Boon Chye, chief executive officer of SGX, in announcing the virtual event. "We are excited to rally the financial community in new ways to raise funds for our beneficiaries. Over the years, they have come to rely on our corporate sponsors and partners, and we are confident that our collective efforts can support them through this period."
The event offers corporate participation through sponsorship packages with a variety of running slots and branding opportunities for participating organisations.
Since its inauguration in 2004, the SGX Bull Charge has become an annual fixture on the corporate calendar, bringing together thousands of runners from the financial community and Singapore's listed companies and raising more than $39 million for 50 charities.
"Charities and non-profit organisations, which depend heavily on corporate philanthropy for critical funding, have been severely impacted this year as corporate donations are projected to reduce substantially. The pandemic may have thrown a spanner in the works, but it has not affected our determination to continue looking after our beneficiaries during these difficult times," SGX said.
Earlier this year, SGX introduced a S$5 million SGX Care Package that included funds to cover its beneficiaries for expenses such as the purchase of thermal scanners, surgical masks, hand sanitisers and disinfectants.
For more information about SGX's Bull Charge initiative, visit: bullcharge.sgx.com
