[22 October 2013] – ARA Asset Management Limited (“ARA” or the “Group”) together with Lim Hoon Foundation, a private charitable trust set up by Mr John Lim, co-founder and Group CEO of ARA, have made a joint endowed donation of S$1 million to Singapore Management University (“SMU”).  In appreciation of the donors’ generosity, SMU will be naming a seminar room at the Lee Kong Chian School of Business in perpetuity.

Between 2009 and 2012, ARA and Lim Hoon Foundation awarded S$225,000 to fund 12 SMU scholars through the ARA Asset Management Limited Scholarship and the Lim Hoon Foundation Scholarship; six of the scholars have proudly graduated this year.  The joint endowed gift of S$1 million this year has enabled the award of new bond-free scholarships to six freshmen this academic year and will, in future, support eight scholars annually via the new ARA-Lim Hoon Scholarship. The scholarship will be awarded to needy students and aims to motivate these students to achieve educational excellence by providing them with financial support.

Part of the Group’s Corporate Social Responsibility efforts is actively sponsoring education, charity, arts and environmental initiatives. ARA has recently made a $200,000 donation to Business China Singapore, to nurture bilingualism and the use of the Chinese language as a medium of communication. Additionally, ARA and members of its staff, together with Lim Hoon Foundation, raised $212,563 for the Lee Kuan Yew Fund for Bilingualism earlier this year.

Commenting on the endowed contribution, ARA Group CEO, Mr John Lim said: “We strongly believe in the ‘multiplier effect’ of education and are delighted to be working with a distinguished institution like SMU. ARA believes that contributing to the community as a good corporate citizen is important and we have accelerated our efforts over the years. Sustainability is critical in philanthropy and the endowed contribution will enable us to fund the scholarships on an on-going basis.”

SMU President, Professor Arnoud De Meyer, said, “Words cannot fully express my deep appreciation of your on-going support to our university and our students.  This generous gift from ARA Asset Management and Lim Hoon Foundation toward scholarships will continue to enable many SMU students to fulfill their academic and career goals and pursuits.  I am also heartened to learn that ARA has been exceptional in engaging our scholars through internships, company activities and also community outreach programmes.  Such initiatives and efforts not only enable the scholars to better understand the company and feel more connected to it, they also enhance our students’ character, development and social responsibility, long after they graduate.”

The Lim Hoon Foundation is a private charitable trust created in 2008. It is named in memory of Mr John Lim’s late father who was a committed educator and a former vice principal of Tao Nan School in Singapore. The foundation is currently working with Jurong Spring Grassroots Organisation and has awarded 93 bursaries to students at the Lim Hoon Foundation Community Education Awards in June 2013.

[From left to right: Professor Arnoud De Meyer (SMU), Mr John Lim (ARA) and Mr Andy Lim (Lim Hoon Foundation) unveiling the plaque outside the ARA-Lim Hoon Seminar Room at SMU]

About ARA Asset Management Limited

ARA, an affiliate of the Cheung Kong group, is a real estate fund management company listed on the main board of the Singapore Exchange.  ARA’s business is focused on the following primary segments:

1. REITs – The Group is one of the largest REIT managers in Asia ex-Japan and currently manages six REITs listed in three countries namely, Fortune REIT dual-listed in Singapore and Hong Kong, Suntec REIT and Cache Logistics Trust listed in Singapore, Hui Xian REIT and Prosperity REIT listed in Hong Kong and AmFIRST REIT listed in Malaysia;

2. Private real estate funds – The Group manages several private funds investing in real estate in Asia;

3. Real estate management services – The Group provides property management services and manages the award-winning Suntec Singapore International Convention & Exhibition Centre; and

4. Corporate finance advisory services – The Group has an in-house advisory arm providing corporate finance advisory services to related corporations.

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