Singapore, Tuesday, 22 March 2011 – The Singapore Management University has received an endowed gift of S$500,000 from the Dubai oil and gas group, Emirates National Oil Company LLC (ENOC). In recognition of ENOC's generosity, SMU has named in perpetuity a Seminar Room at the Lee Kong Chian School of Business after the company. The gift, which will go towards student and faculty development, attracts a 1:1 matching by the Singapore government for SMU's endowment.
To thank and recognise ENOC for their support of higher education and research at SMU, Seminar Room 3.10 on Level 3 of the Lee Kong Chian School of Business (LKCSB) will be named the Emirates National Oil Company LLC (ENOC) Seminar Room. At a simple dedication ceremony today, a plaque bearing the name was unveiled and will be displayed prominently at the entrance of the endowed room, in perpetuity.
The global energy group has demonstrated an interest in developing young talents through its growing partnership with SMU over the years. Since 2006, it has supported students on the International Trading Track set up to groom young trading talents and the International Trading Institute with a gift of S$180,000. This has gone towards initiatives such as, scholarships, overseas study missions and industry visits. ENOC has also supported many student activities such as the Business Study Mission to the Middle East, a course offered by LKCSB. The support for the course has included hosting students on study visits to the headquarters in Dubai and offering internships.
Mr Saeed Khoory, CEO of ENOC, says, “Singapore is one of our key global markets, and our partnership with the Singapore Management University further reiterates the importance we place on education. The grant, which reflects the vision of the Government of Dubai in boosting collaborative ventures in global education, will contribute towards nurturing a talent pool of professionals as well as boosting the skills and competencies of the faculty. We are thankful to SMU for naming the Seminar Room at the Lee Kong Chian School of Business after ENOC, which not only cements our mutual collaboration but also will encourage students to know further about our organisation and Dubai.”
On receiving the generous gift, Professor Rajendra Srivastava, Provost and Deputy President (Academic Affairs) of SMU, said “We are deeply grateful to ENOC for their largesse over the years in strong support of our mission to develop confident, articulate and global-oriented graduates with a strong sense of social responsibility. In line with its deepening engagement with SMU, this is the biggest gift by the Group to an educational institution in Singapore. We are extremely honoured by this. We are fortunate to receive such staunch support from the industry, who see the value of the SMU education we are providing to our students and are joining us in this endeavour. ”
The ENOC Seminar Room is specially designed to support SMU's unique pedagogy of a “seminar-style” approach that encourages greater interaction and lively discussions between students and their professors. It seats up to 50 students and is fully equipped with state-of-the-art technology. The Seminar Room is also designed to complement graduate and professional learning, as well as seminars, workshops and training for the public.
About ENOC
Established in 1993 as a wholly-owned company of the Government of Dubai, ENOC aims to promote the interests of its shareholders through the development of further downstream and upstream activities in the oil and gas sector and beyond, and to encourage the economic diversification of Dubai and the rest of the UAE.
ENOC's vision is to be a leading regional integrated oil & gas group that is highly profitable and socially responsible towards employees, the community and environment. Driving this vision, ENOC is committed to achieving sustainable development and highly profitable growth and serving the growing energy needs of Dubai.
ENOC strives to attract, develop and retain top talent to become the employer of choice, while adopting latest technologies and implementing best practices to achieve world-class performance. ENOC is also focused on meeting and exceeding customer expectations in terms of quality and service, and in maintaining high industry standards with respect to environment, health and safety.
ENOC actively participates in an increasingly broad range of business ventures. Its joint ventures with major international companies allow partners to pool their technology, know-how and expertise along with their resources to further their commercial success.
Since its inception, ENOC has been guided by its philosophy of quality and professional management based on modern business concepts for commercial success and sustainable growth. Today it is poised to engineer a new and challenging period of growth and diversity.
About the International Trading Institute at SMU
The International Trading Institute (ITI) @ SMU was formed in May 2007 as the result of a tripartite collaboration between Singapore Management University (SMU), International Enterprise Singapore (IE Singapore) and leading industry players. The first trading institute in the world to be set up within a university, ITI boasts a specialist focus on international trading and is supported by a unique public-private partnership. ITI aims to establish itself as the premier industry platform for thought leadership in the arena of international trading.
ITI's areas of focus are:
- delivering training and education in international trading at undergraduate as well as executive and professional levels
- conducting and disseminating high quality applied research in international trading with an Asian flavour
- providing consultancy services for trading and related organisations in Singapore and the region
The strategic development and direction of ITI are steered by the ITI Advisory Council, which draws on the expertise guidance of a panel of senior representatives from key commodity trading sectors including oil, agri-commodities and metal, as well as from SMU and IE Singapore.
About the SMU Business Study Missions
Using a country-specific study as its base, the ‘Business Study Mission' course offered in SMU examines the rapidly developing business environment and the available opportunities in a particular city or region. Particular emphasis is placed on the socio-political, cultural, legal environments, and the influence they exert on business practices. Introduced in 2002, SMU is the forerunner in Singapore to introduce such a course, typically to MBA students, at the undergraduate level.
Through case studies, student projects and guest lectures, the course aims to present students with real-life environmental influences and challenges that impact businesses in the city or region. The course culminates in a trip to the location itself usually the main city which is the subject of the study, where through a host of site visits, networking sessions, and presentations by prominent individuals from both private and public sectors, it aims to facilitate the development of a greater understanding of the city.
Participating students return with an enriched knowledge not just of its business developments and the lessons that can be drawn from them, but also of the rich culture and history of the country. Both of the above, too, will aid participating students in extending their personal networks to the region.
To date, more than 1,400 SMU undergraduates have embarked on business study missions to countries and regions such as Argentina, Bahrain, Bangalore, Chile, China, Germany, India, Israel, Qatar, Russia, Saudi Arabia, Scandinavia, South Korea, Spain, UAE, USA and Vietnam.