Lim Hoon Foundation establishes $3 million scholarship at SMU
SINGAPORE, 20 April 2022 (Wednesday) – Lim Hoon Foundation (LHF), a private charitable trust of the JL Family Office (JLFO), has made an endowed contribution of $3 million to establish the JLFO-LHF Scholarship (the Scholarship) at the Singapore Management University (SMU). The bond-free Scholarship aims to support undergraduates with demonstrated financial needs to achieve academic excellence and to recognise them for their accomplishments in student life and towards community outreach.
The Scholarship, valued at $40,000, will provide each recipient $10,000 per year for their four years of study. The Scholarship will be awarded annually and in perpetuity, commencing with nine scholarships in Academic Year 2022/2023. From Academic Year 2023/2024, three new scholarships will be awarded every year to incoming freshmen, and by Academic Year 2026/2027, there will be a steady stream of twelve scholars every year.
Mr Andy Lim, Group CEO of JLFO and Director of LHF, presented the cheque to SMU President Professor Lily Kong at the appreciation event held at SMU today. Also present at the event were senior management and staff from JLFO and SMU.
Mr Lim said, “At Lim Hoon Foundation, education is a cause that is close to our hearts because we believe it lays the foundation to a better future. Since 2009, we have been working with SMU to support undergraduates from Singapore’s sandwich class, and have created the LHF Scholars Circle comprising past and present scholars, with the aim to build deeper connections, and to work together to perpetuate the virtuous cycle of giving.
“Having been involved in many of the activities with our scholars, I am heartened to see their growth both professionally and personally over the years. That has motivated us to renew our commitment to developing the undergraduates with the endowment and we are excited to welcome the new batch of scholars into the LHF family.”
Professor Lily Kong said, “Lim Hoon Foundation has been a close friend and supporter of the University for more than 13 years. Beyond offering their financial support in the form of scholarships for our undergraduates, Mr John Lim and Mr Andy Lim have given much of their time and attention to mentor the scholars, and nurture future leaders. Their continuing efforts to engage the scholars and alumni through internships, scholars’ network, entrepreneurship fund, company activities and community outreach programmes exemplify their desire to impart values and change lives.
“I am extremely heartened to witness SMU’s relationship with LHF grow and blossom through the years. LHF’s strong, unwavering support is a clear testament of their belief in the quality and rigour of our transformative education.”
The Scholarship will provide financial support towards the recipient’s annual tuition fees and/or study-related expenses. Successful recipients will automatically be a part of the LHF Scholars Circle, which serves as a support network for new and alumni scholars to stay connected, expand their networks, and undertake meaningful community service projects in the spirit of giving back to the society. Beyond offering the scholarships, Mr John Lim (Chairman of JLFO and LHF) and Mr Andy Lim have also given their time and attention to nurture these leaders of tomorrow through various initiatives.