Corporate Social Responsibility

 MFC Asset Management Public Company Limited
 Corporate Social Responsibility Activities

   

 2. Tsunami Recovery Fund was established under the Ministry of Finance’s policy to assist businesses particularly in the tourism industry that were affected by the Tsunami disaster in 6 Southern provinces which are in urgent needs for an investment capital recovery assistance to stay in business and could impact the overall economic condition of the country. The fund was co-invested by Thai Commercial Banks, the Government Savings Bank and the Stock Exchange of Thailand with the total investment value of approximately 2.8 billion Baht to invest in businesses that were affected by the disaster with an emphasis on small and medium businesses.

Since 2005, the Tsunami Recovery Fund started assisting 20 medium and large tourism business operators who were affected by the Tsunami. These businesses made of 1 hotel operator in Krabi, 5 in Phuket and 14 in Phang-Nga. In 2006, twelve of these operators constructed, renovated and re-opened their businesses with the occupancy ratio of tourists at about 50-60 percent. In 2007, seven more businesses began to operate and finally in 2008, all Fund aided businesses were recovered with an average occupancy rate of 80%.

In conclusion, the Tsunami Recovery Fund played a significant role in rehabilitating businesses that were affected by the Tsunami. It created jobs for over 3,000 families or over 10,000 people, distributed revenues to locals and helped to restore the overall tourism businesses in the South.

3. The MFC Talent Award Since 2004, MFC organized the MFC Talent Award program continuously with a determination to return its responsibility to the society through the development of human resource capability in fund management for a professional career which is a foundation for the country’s development in financial and capital markets. Hence, the program activities were designed to benefit these selected university students in both theory and practice. For instance, there are activities like basic knowledge in fund management, fund management competition through simulation games, team building activities, visits to leading financial institutions as well as professional ethics course which is fundamental to those with a career in financial and investment industry where confidence and trust are very crucial. The program also includes lecturers who are the company’s experts in fund management and honorable speakers from leading academic and financial institutions who will share their experience and knowledge and thus, provide perspectives and directions to participants for their future careers.

The MFC Talent Award program offers the winning team & the runner-up team of the Bachelor’s & Master’s Degree with cash awards and opportunity for overseas company visits. Every participant will also receive a certificate upon completing the program. Furthermore, MFC upgrades the course curriculum continuously in order to be updated with the current financial investment and economic situations and to ensure that these youths can keep up their development quality with the job market.

Presently, MFC Talent Award has already carried out 5 classes with a total of 300 participants and the number of interested academic institutions and students to participate in this program around the country grows marginally. Participants who undergone this training program will eventually acquire greater chances to enter a career in the financial investment industry.

Lastly, MFC has already awarded a total value of 3,540,000 Baht through this program and it determines to continue to do so with the launch of the MFC 6^th Talent Award in August, 2008.

 4. Scholarship & Donation for Social causes from the fee proceeds from the MFC Islamic Fund.  The MFC Islamic Fund was set up in response to investor’s demand for various securities that could offer good returns including equity instruments registered at the Stock Exchange of Thailand that has an investment policy in accordance to Islamic principles. Hence, this Fund comprises of Fund’s Religion Committee whom advised the fund asset allocation selection criteria. Moreover, portion of the fees earned from the MFC Islamic Fund has been donated to help the society in several ways with the total donation from 2005-2008 amounting to 2,905,000 Baht as the following;

2005

- Supporting the charity event of “Thai heart to Tsunami orphans” worth 55,000 Baht

- Donation for “Khun Poom Foundation” to help the orphans and schools affected by the Tsunami worth 30,000 Baht

2006

- Sponsoring the workshop on “Shariah and financial innovations” worth 50,000 Baht

- Scholarships for students in 3-Border provinces of Yala, Pattani and Narathiwat amounting 30 scholarships per province with a total of 570,000 Baht

- Donation for the restoration of mosques damaged by natural disasters in the South worth 50,000 Baht

- Supporting Thais to compete in the Dubai International Holy Quran Award worth 50,000 Baht

- Donation for flood victim relief in Ban Yang Muslim Communities in Phang District, Chiangmai worth 300,000 Baht

           2007

Educational support and relief for children and youths through contribution in the following projects:

- Education Funding project with 3 scholarships for outstanding achievements and 4 scholarships for underprivileged students from the Faculty of Management, Songkla Nakarin University, Islamic Management Division where in the first year, the fund awarded a total of 150,000 Baht with 70,000 Baht went to outstanding student scholarships (30,000 Baht for first place and 20,000 Baht each for first and second runner-ups) and 80,000 Baht to underprivileged student scholarships. The scholarships for outstanding students will cover the first 3 years and the scholarships for underprivileged students will cover all 4 academic years

- Education Funding project for 140 Muslim youths in Chiangmai worth 100,000 Baht

- Supporting charitable foundations for social causes and schools namely underprivileged women and children worth 200,000 Baht which divided into:

1. Foundation for Children with Disabilities worth 50,000 Baht

2. Suksasongkroh Bangkruai School worth 50,000 Baht

3. Songploo School worth 25,000 Baht

4. Wattuek School 25,000 Baht

2008

- The Rural School Library Development project worth 900,000 Baht is currently in progress of renovating the library of Ban Ta Chang school which classes students from kindergarten to sixth grade level in Ranong.  The library is expected to be completed within the first quarter of 2009.

- Education Funding project with 3 scholarships for outstanding achievement and 4 scholarships for underprivileged students from the Faculty of Management, Songkla Nakarin University worth 150,000 Baht

- Education Funding project for 140 Muslim youths in Chiangmai worth 100,000 Baht

- Supporting charitable foundations for social causes and schools worth 200,000 Baht which divided into:

1. Songploo School worth 25,000 Baht

2. Wattuek School 25,000 Baht

3. Suksasongkroh Bangkruai School worth 50,000 Baht

4. Satthachon Foundation for Education and Orphans worth 50,000 Baht

5. Foundation for Children with Disabilities worth 50,000 Baht

2009

- Education Funding project with 3 scholarships for outstanding achievement and 4 scholarships for underprivileged students from the Faculty of Management, Songkla Nakarin University worth 150,000 Baht

- Supporting the project namely,"Thammasat Chaired Professorship" on the occasion of Thammasat University's 72 nd anniversary by providing a grant to a professor with outstanding hign-grade research knowledge so as to produce and disseminate new academic knowledge which will be beneficial to society, education, business sector and also to the country's development on behalf of MFC Asset Management Professor of Finance and Banking in the amount of 1.5 million Baht.

- The renovating library of Ban Ta Chang school at Ranong worth 900,000 Baht is completed in March 2009.