Press Releases

Record Donation of S$19.5 million to Singapore Management University

09 September 2002


Donation to go towards Endowment in Support of the Library and SMU Scholarships

Dr Li Ka-shing, global entrepreneur and philanthropist, and his Hutchison Whampoa Group, have committed to donating S$19.5 million to the Singapore Management University (SMU), in the largest ever donation to a Singapore tertiary institution.

The donation is two-pronged. S$15 million will go towards the endowment of the SMU library at the new city campus at Bras Basah, expected to be completed in 2005. Equipped with state-of-the-art facilities such as virtual interactive terminals and multimedia laboratories, the library will support SMU’s world-class teaching and research by serving as the gateway to vast resources of information.

The other S$4.5 million will support up to eight endowed scholarships a year for undergraduates from the Asian region, particularly from Hong Kong and mainland China, in an effort to foster intellectual excellence and to attract the finest students to SMU. The scholarships will also serve to facilitate and prepare students for success in the global business environment through better understanding of their neighbours and building of partnerships with regional and international players. The scholarship will cover expenses such as tuition fee, accommodation, travel-related expenses, books & computer necessities and general living expenses.

The donation, which is made through the Li Ka-shing Foundation, not only underscores Dr Li’s confidence in the potential and future of SMU, it also marks an unprecedented move of collaboration between SMU and China.

In recognition of Dr Li’s generosity, SMU is pleased to announce that both the scholarships and the library building will be named after Dr Li Ka-shing. The two endowments will be formally named the Li Ka-shing Endowed Scholarship Programme and the Li Ka-shing and Hutchison Whampoa Group Library Fund.

As part of the Singapore Government’s matching grant of S$3 for every S$1 donation to SMU, the S$19.5 million donation will generate a further S$58.5 million, to be used to develop and sustain a world-class research library, support the scholarship programme and enhance the quality of education at SMU.

Background information on SMU

SMU, Singapore’s newest university, was incorporated on 12 January 2000. SMU holds the unique position of being Singapore’s first private university that is funded by the government.

SMU’s objective is to groom outstanding business leaders and creative entrepreneurs capable of excelling in a rapidly changing and dynamic world. A five-year collaboration with America’s top business school – The Wharton School of the University of Pennsylvania, allows SMU to draw on Wharton’s academic and research strengths across all major disciplines.

SMU opened its doors to the pioneer intake of Business Management students in August 2000, followed by the commencement of the Accountancy programme in August 2001 and a new Bachelor of Science (Economics) programme in August this year. The programmes at SMU adopt a flexible, multidisciplinary approach towards managing the increasingly complex demands of modern businesses, notably with an emphasis on computer literacy and technology, company internships, business visits and student exchange programmes.

From 2001, SMU occupied the historic Bukit Timah campus which has been completely refurbished to offer state-of-the-art equipment and cutting-edge technology. This campus is an interim facility until the eagerly-anticipated US$600 million City Campus is ready in 2005.

Primed to deliver the nurturing of diverse and relevant talents in a borderless world, SMU is the university of the New Millennium.

Background information on the Li Ka-shing Foundation

Having experienced the turmoil of war in his youth and entering society at an early age, Dr Li Ka-shing understands the importance of medical care and the power of knowledge. He also believes that nothing is more meaningful than helping the needy. In 1980, Dr Li set up the Li Ka-shing Foundation to coordinate and distribute donation funds to various charities, especially in the areas of education and healthcare.

For media enquiries, please contact:

SMU Office of Corporate Communications

Lim Nah (Ms) Adrian Wee

Senior Manager Senior Manager

Tel: (65) 6822 0235 Tel: (65) 6822 0384

Hp: 9385 5040 Hp: 9368 8112

Fax: (65) 6822 0456 Fax: (65) 6822 0456

09 Sep 2002