NUS Receives $500,000 Bursary Donation

Lynette Lim | lynette_lim@nus.edu.sg
the ridge news
A NUSSU Publication
April. 11, 2008

Story Highlights:

• Great Eastern presents gift of $500,000 to NUS in honour of the late Mr. Howe Yoon Chong.
• The gift is part of Great Eastern’s corporate social responsibility.
• The first ten bursaries would be awarded in the next academic year 2008/2009.
• This is Great Eastern’s first such substantial gift to NUS.
• Ministry of Education has also pledged to match dollar for dollar.

National University of Singapore (NUS) undergraduates from Singapore and Malaysia in need of financial aid now have another reason to cheer.

In a new initiative to provide financial support for deserving students in NUS, Great Eastern presented a gift of $500,000 to NUS in honour of the late Mr. Howe Yoon Chong, Chairman of Great Eastern from 1992 to 2000.

L-R: Professor Tan (right) and Mr Wong signing the agreement; Professor Tan and Mr Wong (left) exchanging agreements
(Photos by Lynette Lim)

On Apr. 10, Mr. Michael Wong Pakshong, Chairman of Great Eastern Holdings presented a cheque of $500,000 to Professor Tan Eng Chye, NUS Deputy President (Academic Affairs) and Provost, establishing the Great Eastern-Howe Yoon Chong Bursary.

Wong presented the cheque at a simple ceremony graced by Guest of Honour, Mrs Howe Yoon Chong after a signing of the bursary agreement.

(Mr Wong (left) presenting the cheque of $500,000 to Professor Tan)
(Photo by Great Eastern)

Mr. Howe was an alumnus of the University of Malaya, the predecessor of NUS, and was a strong advocate of educational support for students from poor or disadvantaged families.

He graduated with a Bachelor of Arts (Hons) in Economics in 1953 and was conferred the Honorary Doctor of Letters from the University.

The gift also forms part of Great Eastern’s corporate social responsibility, by which companies give back to society.

“Great Eastern turns 100 this year. We wish to share our joy with the less privileged in our society,” said Wong.

“We hope that our contribution will help to make a difference in the lives of these financially needy students to further their education with no worries,” he added.

Great Eastern will award the first ten bursaries in the next academic year 2008/2009 as part of their centennial celebrations.

The $500,000 gift, matched dollar for dollar by the Ministry of Education, will allow the awarding of 20 bursaries from 2010 onwards.

Singaporeans, Permanent Residents and Malaysians are all eligible for the bursary.

As Great Eastern is a market leader in Malaysia as well, Malaysian students at NUS will receive 20 percent of the bursaries.

The bursary will support recipients from their first year to the year of graduation as long as they meet the financial means testing in subsequent years.

According to Professor Tan, the means testing calculates the per capita family income, and the typical monthly income eligible for a bursary is $1,200.

At the ceremony, Professor Tan thanked Great Eastern for this gift, which is Great Eastern’s first such substantial gift to NUS.

“In honouring its late Chairman Mr Howe Yoon Chong, whose strong belief that nothing other than personal ability should determine one’s access to education rings true with NUS’ one commitment, Great Eastern has expanded the opportunities that a great education can bring,” he said.