The banking and wealth management group's Optimus Foundation is

UBS announced yesterday that its UBS Optimus Foundation is donating HK$10 million ($1.28 million) to support victims and families affected by the unfolding fires that have claimed more than 80 lives Hong Kong’s Tai Po estate. DBS in Hong Kong also pledged to commit the same sum to relief efforts.

As of the time of going to press, media reports, such as from the South China Morning Post, said 83 people have lost their lives, in one of the deadliest fires in Hong Kong’s recent history. 

“We are truly heartbroken by the recent events in Tai Po. As the true scale of this tragedy continues to unfold, our thoughts are with those who have lost loved ones and everyone who has been affected by this calamity,” UBS said in a statement. “With the unprecedented scale of the destruction, the loss of homes, livelihoods and treasured possessions, the need for community support has never been greater. At UBS, we are committed to helping the rebuilding efforts and getting those who have suffered back on their feet,” the Swiss bank said. 

Besides the Optimus Foundation’s aid, as described above, the foundation will match up to 10 per cent of client and staff donations up to HK$30 million.

DBS Bank (Hong Kong) also announced an HK$10 million donation; this sum will be given to Hong Kong Red Cross (HKRC).

"DBS Hong Kong expresses its deep sympathy and concern over this horrific tragedy, and stands in solidarity with the Hong Kong community during this time of immense grief and hardship. The donation will enable the Hong Kong Red Cross to provide immediate relief support to affected families, including clothing, water and warm food, temporary shelter, daily necessities such as hygiene and sanitary products, as well as mental health services to help those coping with trauma," DBS said. "DBS Hong Kong remains committed to supporting communities and will continue to provide necessary assistance to those impacted by this tragedy." 

The SCMP yesterday said Hong Kong leader John Lee Ka-chiu has ordered inspections of all public housing estates undergoing major renovations, with authorities launching a criminal investigation into the fire.

Rescue work is continuing. Reports said that 56 people are still in hospital.