CSR Programme to Benefit 50,000 Families in the Next 5 Years
Kuala Lumpur, March 29, 2014 – Prudential Assurance Malaysia Berhad (PAMB) today announced its commitment of RM50 million towards the development of its Corporate Social Responsibility (CSR) programme in conjunction with its 90th anniversary in Malaysia this year.
Aimed at building a financially literate and resilient Malaysian society, PAMB’s CSR programme is an extension of the insurer’s commitment to improving the lives of Malaysians and supporting the national agenda through sustainable efforts.
Its flagship CSR programme under the auspices of the Prudence Foundation, Prudential’s regional charitable arm, will focus on three core areas leveraging on PAMB’s key strengths to make a meaningful and long-lasting impact on society. The core focuses of its CSR efforts are on financial protection for the urban low income households (LIH) with PRUkasih, financial literacy amongst youth and children with Cha-Ching, an award-winning edutainment programme and on disaster-preparedness.
Speaking at the launch of the PAMB’s CSR programme, Barry Stowe, Chief Executive of Prudential Corporation Asia and Chairman of Prudence Foundation said, “We have been part of the social fabric in Asia for 90 years, and we have a long heritage of understanding and meeting the needs of our communities, alongside governments and NGOs. Our business helps people achieve their hopes and dreams through sound advice and proper financial planning, and we believe basic financial literacy and financial protection are the keys to a brighter future. That is why we have focused our efforts on these areas so we can use our skills and knowledge to make a positive contribution and achieve a meaningful impact on society.”
Commenting on the launch, Philip Seah, Chief Executive Officer of PAMB said, “As a responsible corporate citizen of Malaysia, we share the hopes, dreams and aspirations of fellow Malaysians. As we celebrate our 90th anniversary this year, we would like to commemorate this significant milestone by sharing with the Malaysian public our long term commitment in developing our CSR programme as a reinforcement of our commitment to supporting the country in its nation building effort.”
Piloted in 2011, PRUkasih is a free financial protection plan introduced by PAMB to support the Government’s initiatives in improving the lives of the urban LIH in the country. Through PRUkasih eligible urban LIH from participating communities will receive temporary financial relief in the event that the main breadwinner is unable to generate income for the family due to an accident, illness or even death. Apart from covering their monthly rental and food needs, PAMB will also provide the affected family with cash for funeral expenses in the event the breadwinner passes away to help tide them over during a difficult time.
Following the success of the pilot program with the residents of PPR Sri Pantai, PRUkasih has since expanded to Fasa 8/9 in Sentul and most recently PPR Beringin Kepong and provided access to 4000 families in these three communities. With support from various local and national government agencies and NGOs such as Persatuan Kebajikan Generasi Gemilang (PKGG), a not-for-profit welfare organisation; the National Council of Welfare and Social Development Malaysia (MAKPEM), Dewan Bandaraya Kuala Lumpur (DBKL) and the Ministry of Women, Family and Community Development (KPWKM), PAMB will be reaching out to 50,000 households through PRUkasih by 2018.
For its financial education programme, PAMB will reach out to 50,000 individuals through its award-winning educational programme, Cha-Ching. The programme developed by the Prudence Foundation is a multi-country musical animation that teaches children about the basic financial concepts of Earn, Save, Spend and Donate. It airs in eight countries on Cartoon Network and provides interactive learning resources for parents and children through its website. The programme will be adapted for schools and communities across the country to support and complement the Ministry of Education’s long term effort in promoting financial literacy and inculcating the right values in our children in order to create a young generation of financially literate and responsible citizens.
In her keynote speech, the Honourable Minister of Women, Family and Community Development, Dato’ Sri Rohani Abdul Karim who officiated the launch said, “I welcome the private sector’s involvement in helping the Government’s objectives of improving the lives of the rakyat. It is timely for Prudential to launch its pragmatic CSR programmes which not only helps the urban LIH to sustain their livelihood and educate young Malaysians on the various aspects of financial planning, it will also substantiate the objectives of the Government’s Transformation Programme. I believe these efforts will make a big impact on the lives of many Malaysians for many years to come.”