Gratitude

 

The Kongsi contributes 75% of its yearly surplus to the Ngee Ann polytechnic; and to date, it has donated about $100 million to the polytechnic.
But a change in the ordinance in 2007, parliament has approved and decreed that the Kongsi will henceforth reduce the donation to 25% of the yearly surplus, while the remaining amount be donated to other educational institutions in Singapore. The Kongsi now contributes 25% of its revenues to the polytechnic since the change in the Ngee Ann Kongsi (Incorporation) Ordinance, which was passed in July 2007.
Among the first educational institutions to benefit from the new adjustment are:


School of Science and Technology, Singapore SGD$8.1 million