Keppel sets up package in aid of national efforts against COVID-19

The initiative is expected to raise more than $4.2m.

Keppel Corporation (Keppel) has set up a COVID-19 package, which will be funded by voluntary contributions from the Keppel Group’s executives, senior management, and staff, according to an announcement.

The initiative is expected to raise more than $4.2m.

Keppel’s CEO and CFO will be giving one month’s worth of their salaries in April 2020, whilst directors of Keppel business units will be contributing an equivalent amount of their annual fees.

Members of the Group’s senior management are also said to forgo half a month of their salaries, whilst Keppel employees in Singapore are asked to contribute any amount.

The company said that about $3.5m of the fund will go towards supporting lower income households in Singapore, through rebates given by Keppel Electric, M1 and City Gas to residents living in 1 and 2-room HDB flats, which will be rolled out from 1 May.

Meanwhile, $300,000 will be donated to The Courage Fund, whilst about $400,000 will be set aside to support Keppel’s frontline contract staff, including sanitary and security personnel.