Happenings, News

ACS (BR) gets 1m shares from well-wisher

A WELL-WISHER has donated 1 million shares in Trek 2000 International Ltd to Anglo-Chinese School (Barker Road). This was disclosed by Mr Tan Chee Chye, Chairman of the Methodist Schools’ Foundation (MSF), in his annual report for the year 2002.

Mr Tan said that the MSF is holding the shares as trustee for ACS (BR) as the school is not a legal entity and cannot hold the shares in its name.

The MSF will receive a commission of 1 per cent on the sale of the shares as service fee for housing the shares.

Mr Tan also disclosed that the MSF had been chosen by Wesley Guys & Gals to be given the group’s donation for the year 2002. He attended their 15th anniversary event at the Amara Hotel on July 27, 2002 and received the charity award on behalf of the MSF.

He highlighted these other points:

*A team of professional fund managers, under the chairmanship of Mr Sandy Eu, has been assigned to manage the MSF funds. As at July 2002, the fund stood at $5,346,723.
* The MSF has been recognised as an Institution of Public Character. From Jan 1, 2002 most donors were able to benefit from double tax deduction (twice the donation value).
* It is timely for the MSF to look at attracting estate donations.
* The MSF will also be developing online, telemoney and credit card donations.