Financial aid for poor students in Malaysia

Rationale for my scholarships offer

Since I circulated my scholarship offer to needy students, many people have asked if the offer is genuine or a hoax because there are so many scams. I have had to explain that I am in a position to undertake this charitable work.

I am a retired Chartered Civil Engineer and was one of the original founders of IJM Corporation Bhd, Gamuda Bhd and Mudajaya Group Bhd, 3 of the leading listed construction companies. As an entrepreneur, I have always wanted to use minimum capital to produce maximum benefit.
I wish to explain why I have chosen this way of doing charity through this particular scholarship offer in which the scholarship recipients are not required to work for me after graduation or to pay me back the money they have been provided.

But they all have to promise me that they will help other poor students after they have graduated and are financially solvent.
I believe most recipients will not break their promise if the charity culture has been instilled in them when they are young and in need of aid. As a result, I expect that they will continue to do similar charity work long after I am gone.

Through my contribution, we can expect a meaningful human resource product graduating from a very creditable University, U TAR for a relatively small outlay and contributing to the nation’s development.

Some have asked if I would consider them studying in other more expansive university. In fact, one girl has applied while she is currently doing the foundation course in accountancy in Nilai University College which charges Rm 138,000 for the 4 years course, according to her. U TAR, a non profit University charges Rm 32,000 for the same 4 years course. Of course, the question is: which is the better University for finance and accountancy. All I know is that most practising accountants in Malaysia are graduates from Kolej TAR or U TAR.

I believe an accountant can find employment more easily and is likely to have a higher income than those from many other professions. An accountant graduate will be able to help the people around him, besides taking care of his own family through his higher educational and financial standing.

I also hope that this example will encourage other successful entrepreneurs who may have wanted to do similar charitable work to use their money in a cost-effective way and to help others and generate a positive multiplier effect on society.

For those who have not read my scholarships offer, I reproduce it here below.

Scholarships for poor young Malaysians
I will be providing scholarships to 50 poor students for the next academic year to study finance and accountancy in University TAR, Kampar, Perak.
The scholarships will be given subject to the following conditions:-
The applicant’s family combined income should not be more than Rm 2,000 per month.
The letter of application should be accompanied by a simple letter from the Form Teacher of the student certifying that the student is from a poor family. The contact details of the teacher and school should also be included.
Students will be selected more on the basis of their financial need though their academic achievements will also be taken into account.

Each scholarship is worth Rm 20,000 which should be enough for each student to cover the cost for the first year foundation course and the first semester of the degree course in finance and accountancy until he or she secures the PTPTN loan. This Government PTPTN loan (National Higher Education Fund) is given to all students doing a recognised degree course, irrespective of race and financial position.
Students who receive financial aid from me are not required to pay back the money or work for me after they graduate.
However, I want them to promise me that they will help other poor students when they have graduated and are financially solvent.

U TAR takes in students in January and June every year. Students who are currently doing their SPM can submit their applications to U TAR this October with their forecast results and they can enrol in January 2010.

Needy students who are currently doing their SPM or have passed the SPM can submit their applications directly to me at:
Koon Yew Yin,

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yewyin@gmail.com
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A copy of the letter should be sent to

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admin@cpiasia.net
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attention: Dr. Lim Teck Ghee
Centre for Policy Initiatives
All applications should be written out in English

Koon Yew Yin2nd Aug 09