26 June 2003
New Straits Times
The Usaha Tegas Sdn Bhd group of companies, controlled by tycoon T. Ananda Krishnan, has pledged RM160 million to various education funds in the country.
The contributing companies are Maxis Communications Bhd, Tanjong Plc and Measat Broadcast Network Systems Sdn Bhd.
Of the amount, RM100 million cash was endowed to Harapan Nusantara Fund, a fund set up for Bumiputera students.
The fund is managed by Harapan Nusantara Sdn Bhd, a foundation established by Usaha Tegas specifically for this purpose.
On top of that, the foundation has also been endowed with around 300 million shares in Maxis, currently worth around RM100 million, which would be monetised as needed in future.
Harapan Nusantara director Datuk Badri Masri said initially, two projects would be launched under the fund, one of which was for Bumiputera students to pursue twinning programmes at private universities and colleges.
Beginning 2004, around 100 students each year will benefit from this programme which will beimplemented in collaboration with local colleges.
“In addition, a sum of RM5 million will be allocated for Bumiputera managers and professionals to pursue executive programmes at Harvard Business School,” he said at a cheque presentation to Universiti Tunku Abdul Rahman (Utar) yesterday.
Tanjong, Maxis and Measat jointly donated RM10 million to Utar, which was represented by its chairman Datuk Seri Dr Ling Liong Sik.
As for the balance, Usaha Tegas group of companies has also set up the Yu Cai Foundation with an initial grant of RM25 million.
Usaha Tegas director Tan Poh Ching said the foundation aimed to nurture and develop talent in broad and diverse areas of human undertakings.
To kick off the fund, a sum of RM5 million has been allocated for the establishment of a Department of Traditional Chinese Philosophy and Practice at Utar or an appropriate institution of higher learning in Malaysia.
Usaha Tegas has also allocated RM5 million for the Asian Institute of Medicine, Science and Technology.
“The group has always been steadfast in its commitment to the community, particularly education,” Tan said.
“In the early 1990s, the group donated RM20 million to the Malaysian Community Education Foundation.”
Meanwhile, Utar would need more than RM1 billion to finance its expansion plan over the next 10 years. Dr Ling said the expansion plan would focus on building new campuses around the country to accommodate the increasing number of students each year.
He said the university had received more than RM190 million in donation pledges so far.
“With the support from various parties, especially Federal and State Governments, we are confident of meeting the target,” he added.
Dr Ling said Utar had 3,698 students and expected to see the number grow to 9,000 by next year.
In addressing overcrowding at its main campus, he said the university would begin construction of a new campus in Kampar by the end of the year.