Banyan Tree Group sets up Tsunami Recovery Fund

The Banyan Tree Group has pledged financial and human resources to help Tsunami devastated communities get on their feet.

The Group's Asian Tsunami Recovery Fund will function as a channel for the company, its staff, guests, business partners and well wishers who would like to offer direct assistance to communities in Indonesia, Maldives, Phuket and Sri Lanka. It will be managed by the Banyan Tree Group’s organisational network and distributed to affected people through local community organisations.

“The communities where we have lived and worked for many years are grappling with the current reality”, observed Ho Kwon Ping, Chairman, Banyan Tree Group. “Relief funds are pouring in and international agencies are doing great work in providing for the most immediate needs. However, when the aid agencies finish their work and move on, there will be a whole range of new challenges for these communities”, he said.

Mr. Ho highlighted that as a business that has a significant presence in the affected areas and having been fortunate enough to emerge from this disaster almost unscathed, he sees his company as being well placed to help the communities build their lives back. “We now have a responsibility – one to help those who strive to regain normalcy after such a tragedy”, Mr. Ho added.

Contributions to the Asian Tsunami Recovery Fund will be made through a variety of means.

1. Staff members are making a voluntary contribution. They are pledging 5 per cent of their January 2005 salary to the Fund.

2. From January to March 2005, the Green Imperative Fund (GIF), which supports Banyan Tree Group’s on-going environmental conservation and community development efforts, will be re-channelled to the Asian Tsunami Recovery Fund. The GIF, which asks Banyan Tree and Angsana resort guests for a US$1 contribution for each room night spent, will now request for an additional US$1 donation to help boost the Tsunami Recovery Fund.

3. The Banyan Tree Group will match both staff and GIF contributions dollar for dollar.

4. The company will make requests to all its business, trade and media partners for contributions to the Fund, and it will also make a public appeal on its website for donations.

Donations to the Asian Tsunami Recovery Fund can be sent by telegraphic transfer to:

Account Name: BTH - Asian Tsunami Recovery Fund
Account No.: 250-003449-179
Swift Code: HSBC SGSG
HSBC Bank

Send cheques to:

Payee: BTH - Asian Tsunami Recovery Fund
Banyan Tree Hotels & Resorts
211 Upper Bukit Timah Road
Singapore 588182

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