Corporate Social Responsibility
According to Harvard Business School, corporate social responsibility (CSR) involves the idea that a business has a responsibility to the society that exists around it. Firms that embrace CSR are typically organised in a manner that empowers them to act in a socially responsible way to positively impact the world. It is a form of self-regulation that can be expressed in initiatives or strategies, depending on an organisation's goals. Many organisations communicate these efforts to external and internal stakeholders through corporate social responsibility reports.
There are various examples of what "socially responsible" means from organisation to organisation. Firms are often guided by a concept known as the triple bottom line, which dictates that a business should be committed to measuring its social and environmental impact, sustainability efforts and profits. The adage "profit, people, planet," known as the "three P's," is often used to summarise the driving force behind this concept.
Many companies are realising that a focus on CSR activities can give an advantage over other competitors, who think that CSR does not improve their bottom-lines. Many CSR-inclined companies endorse the view that adopting good CSR practices can bring about numerous benefits. These include building a sound reputation and improving morale among their staff, which results in higher productivity and better performance, thereby drawing more investors.
Many global business leaders have emphasised the importance of CSR in achieving their business goals. For example, Mr Brian Gosschalk, former CEO of MORI, was quoted in Financial Times as saying: "The business of business should not be about money, it should be about responsibility. It should be about public good, not private greed. Stakeholders want companies to make a profit, but not at the expense of their staff and the wider community."
As OKP seeks to be a respectable corporate citizen, we manage our business in a sustainable way that has a positive economic, social and environmental impact on our stakeholders and their environments. We diligently put best practices in all our business operations by giving back to society, especially in offering assistance to the disadvantaged members of the community. The Group gives financial support through sponsorships and donations to various charitable organisations and causes. We also inspire our staff to be caring citizens through volunteering their time and efforts towards worthwhile causes and taking part in various fundraising activities.
SUPPORTING VARIOUS CHARITIES AND COMMUNITY ORGANISATIONS
We contribute to the community by participating in fundraising events and philanthropic outreach and through our annual Charities of the Year programme.
In 2024, the Group contributed to 41 organisations. These included the Society of Project Managers, Tunnelling and Underground Construction Society (Singapore), Singapore International Transport Congress and Exhibition, Singapore Heart Foundation, Disabled People's Association and Singapore Cycling Association.
Other recipients include Mouth and Foot Painting Artists Pte Ltd, World Children's Fund HK Ltd, Or Kim Peow-Nanyang Hwu Clan, People's Association Chong Pang Community Club, Tagore Business Association, and 19 temples. We have also supported some of these organisations over the past years.
In the past, we had provided financial support to various charities and community organisations, which target different sectors as follows
- Youth and children
Singapore Children's Society's 1000 Enterprises for Children-in-need Project, Dyslexia Association of Singapore, Students Care Service, Teen Challenge Singapore, Playeum Ltd and Halogen Foundation Singapore - Humanitarian causes
Relief (Singapore's leading independent disaster relief agency) and Singapore Red Cross. - Healthcare and disadvantaged
Adventist Nursing & Rehabilitation Centre, The Singapore Association for the Deaf, Ang Mo Kio-Thye Hua Kwan Hospital, Singapore Heart Foundation, Community Chest, Handicaps Welfare Association, Kidney Dialysis Foundation, Leukemia & Lymphoma Foundation, Yellow Ribbon Fund and Casa Raudha Women Home. - Community
Pasir Ris East Zone Community Club (Marathon Ekiden Charity Run), Tampines Changkat Consultative Committee, Caritas Singapore (social and community arm of the Catholic Church in Singapore), Nanyang Technological University's Computer Science and Engineering Club (overseas community projects), Chee Hoon Kog Moral Promotion Society and People's Association Community Centres/Clubs building fund. - Professional bodies
Road Engineering Association of Asia and Australasia, Society of Project Managers, Tunnelling and Underground Construction Society (Singapore), and Singapore International Transport Congress and Exhibition. - Businesses
Singapore Contractors Association-Singapore Business Federation Foundation (SBF) Compassion Fund, Association of Small and Medium Enterprises-SBF Foundation Compassion Fund for Migrant Workers and Tagore Business Association. - Sports
Singapore Gymnastics and Singapore Cycling Association. - Religious
Singapore Buddhist Lodge's building fund.
In addition, we sponsored activities organised by various organisations such as schools, religious and grassroots organisations and the Community Development Council.
The Group also sponsored numerous fundraising golf tournaments such as those for the Pertapis Education and Welfare Centre, Tentera Diraja Mosque, National University of Singapore's Building & Estate Management Alumni, Land Transport Authority, Tunnelling and Underground Construction Society (Singapore), and Ngee Soon Group Representation Constituency. In addition, our organisation also sponsored the Singapore Institute of Building Limited's movie event.
