Singapore, 2 October 2017 (Monday) – ARA Asset Management Limited (‘ARA’) and Lim Hoon Foundation (‘LHF’) have jointly made an additional endowed donation of S$1 million to Singapore Management University (‘SMU’). With this latest gift, the total committed endowment is now at S$4 million (inclusive of dollar-for-dollar match by the Singapore Government). The number of bond-free scholarships awarded yearly under the ARA-LHF Scholarship will increase from eight to 12 in perpetuity and the value of each scholarship will also increase from S$7,500 to S$10,000 per annum for the recipient’s four-year study.

The ARA–LHF Scholarship was established in 2009. To date, the Scholarship has benefitted 28 SMU students, with 18 having graduated and 10 still pursuing their studies at SMU.

ARA and LHF made the commitment to contribute an additional endowed donation of S$1 million in January this year. To commemorate this new gift and to thank both organisations for their strong support, an appreciation event was held at SMU today during which Mr John Lim, Group CEO of ARA, and Mr Andy Lim, Executive Director for LHF presented the cheque to SMU President Professor Arnoud De Meyer. Also present at the event were senior management and staff from ARA and SMU, including Mr Timothy Chia, a member of SMU Board of Trustees.

Commenting on the latest endowed contribution, ARA Group CEO, Mr John Lim said, “Education has always been a cause that has been close to my heart because I believe that it creates the biggest social multiplier effect. I am very happy that ARA and Lim Hoon Foundation have been able to provide students with the opportunity to further their education through this partnership with SMU for the last nine years. The response from the scholars has been very heartening and we look forward to helping more students through the programme.”

SMU President Professor Arnoud De Meyer said, “We would like to express our sincere appreciation to Mr John Lim, Lim Hoon Foundation and ARA Asset Management for their generosity. This gift further strengthens SMU’s ability to produce graduates with the breadth and depth of knowledge, who are articulate, ethically and socially responsible and capable of helping solve real world problems. The scholarships will benefit many generations of students in various ways. Most importantly, Mr Lim’s vision towards education will leave a lasting impact on our students and the community. We look forward to continuing this meaningful partnership with Mr Lim, ARA and Lim Hoon Foundation.”

The objective of the ARA-LHF Scholarship is to support full-time SMU undergraduates with demonstrated financial needs to achieve excellence in their studies. The Scholarships are awarded to undergraduates who are Singaporeans or Singapore permanent residents, and enrolled in the Lee Kong Chian School of Business, School of Accountancy or School of Economics at SMU.

The Scholarship offers financial support towards the scholar’s annual tuition costs and/or study-related expenses. Successful recipients are granted internship and/or career opportunities with ARA or its subsidiaries. Scholarship recipients are expected to participate in community service and corporate social responsibility activities; second-year and third-year scholars are also expected to hold leadership positions in the ARA-LHF Scholars and Alumni Network Committee.       

The ARA-LHF Scholars and Alumni Network offers a support network to new and alumni scholars to stay connected, plan networking events, and undertake meaningful community service projects. Beyond offering the scholarships, Mr John Lim and his son Andy Lim have given their time and attention to nurture these leaders of tomorrow through various initiatives. One such initiative is the setting up of the John Lim Family Office Entrepreneurship Opportunities Fund in 2014 to provide venture capital for viable business ideas developed by the ARA-LHF scholars and alumni.

Another initiative is the ARA Career Opportunity Scheme launched this year which provides ARA–LHF scholars, who are fresh graduates and are hired by ARA, with the opportunity to undergo a structured programme to gain hands-on experience and insights from the best in the real estate fund management industry.  

*** END ***

For more information, please contact: