Singapore, 26 August 2015 (Wednesday) –  Mr Choo Chong Ngen, founder and Executive Chairman of Singapore’s largest chain of owner-managed hotels, has made an endowed contribution of $2 million to set up a new bursary for needy students at the Singapore Management University (SMU).

The Hotel 81 – Choo Chong Ngen Bursary (Bursary) is the single largest bursary gift to SMU from an individual donor.

The inaugural batch of 24 recipients received their bursaries from Mr Choo at an appreciation ceremony held at SMU today.

Mr Choo Chong Ngen said, “Through this Bursary, I hope that motivated and deserving students are able to realise their aspirations and potential through a university education without the burden of financial obstacles. With the education they will receive, I hope the bursary recipients will go on to become responsible citizens and contribute back to society.”

SMU President Professor Arnoud De Meyer said, “We would like to express our sincere appreciation to Mr Choo for setting up the Bursary, which will help us ensure that no deserving student misses out on the opportunity of an SMU education because of financial need. Mr Choo’s generous support will take them on an educational journey that is holistic, enriching, and meaningful, enabling them to achieve their education and career goals.”

The Bursary aims to assist financially needy SMU undergraduates to achieve academic excellence. With a 1:1 government matching, the total sum of $4 million will support 24 bond-free bursaries of $5,000 each annually, commencing from academic year 2015/2016. The Bursary is open to all full-time SMU undergraduates who are Singaporeans and enrolled in any discipline at SMU. Each bursary is tenable for one academic year of the recipient’s studies.

Applicants must have demonstrated financial need and a good record of community and/or co-curricular activities involvement. The Bursary will offer financial support towards their annual tuition fees.