Kuala Lumpur, 2nd Feb: Universiti Teknologi Malaysia (UTM) is planning to provide scholarship to all outstanding undergraduates through The Endowment Fund by the year 2020.
Minister of Higher Education, Dato’ Seri Mohamed Khaled Nordin said, “It’s not only a matter to fulfil the 6% mark as per criteria set for a Research University to have the endowment but I believe UTM should extend this good endeavour. Therefore UTM’s Endowment Fund is a creative mechanism to generate income for the university”.
This year, UTM is targeting its collection at RM20 million following the criteria set by the Ministry of Higher Education for a Research University to generate its own income.
UTM Vice Chancellor, Prof. Dato’ Ir. Dr. Zaini Ujang said, up to-date RM5.4 million has been successfully collected. The contributions came from various parties inclusive of Industries, university staff, Student Representative Council (MPM), individuals and profits from UTM’s investments.
He said, “For a start, RM1 Million will be allocated as scholarship to 100 outstanding undergraduates worth RM10,000 per person per year starting from this coming semester 2011/2012. Outstanding undergraduates who have registered for 2011/2012 academic session are qualified to apply. Those who are successful will receive the scholarship until they complete their studies depending on their academic achievement”.
He added, those who will receive the scholarships will not be bound into an agreement with UTM and are free to work anywhere after they graduate. He highlighted that UTM will also sell buildings in UTM to sponsors in order to add more funds to the endowment scholarship.
“If we succeed to sell most of the buildings, we can have RM5 billion to be directed to the endowment fund”.
UTM Endowment Fund was launched by Minister of Higher Education, Yang Berhormat Dato’ Seri Mohamed Khaled Nordin at Jumaah Hall, UTM International Campus, Kuala Lumpur today.
During the ceremony, Chairman of UTM’s Board Director, Tan Sri Abdul Halim Ali received contributions for the endowment fund from the Vice Chancellor Office of RM186,000, UTM Deputy Vice Chancellor Research and Innovation, Professor Dr Marzuki Khalid and wife, Professor Dr Rubiyah Yusof contributed RM176,000. Other contributor are Prestariang Sdn Bhd (RM150, 000), Iskandar Malaysia UTM Research Centre (IMREC) (RM50,000), Perunding Wahba Sdn Bhd (RM50, 000), Orion Ventures (RM20,000), Kumpulan Arkitek Sdn Bhd (RM20,000), Bank Kerjasama Rakyat Malaysia (RM20,000), Datin Zainah Mokhtar (RM20,000), Student Representative Council (MPMUTM) (RM10 000) and Takaful Malaysia (RM10,000).
To fill up the Endowment Fund, UTM will be carrying out books sponsorship whereby UTM Press will be the publisher. Professor Chair, Abadi Endowment Tower, Golf Tournament and investment in financial industries and trust funds will also be in the part of the programme.
After the scholarship granting, UTM will be carrying out an endowment programme for sponsorship of 10 Professor Chairs involving RM7million in the duration of three years.
Apart from that, UTM will also launch a special programme to develop advance laboratory, smart class room as in Harvard Business School and research grant on RM4.5million expenditure in a period of three years.
Also present in the ceremony were Secretary General, Ministry of Higher Education; Datuk Haji Ab. Rahim Md. Noor, UTM Pro-Chancellor; Tan Sri Dato’ Seri Dr. Abdullah Ayub and wife, UTM Pro-Chancellor; Dato’ Dr. Muhammad Ridzuan Haji Salleh and wife, Chairman of Board Directors; Tan Sri Abdul Halim Ali, Deputy Vice Chancellor (Academic and Internationalization); Prof. Ir. Dr. Mohd Azraai Kassim, Deputy Vice Chancellor (Research and Innovation); Prof. Dr. Marzuki Khalid, Deputy Vice Chancellor (Student Affairs and Alumni); Prof. Datuk Dr. Mohd Tajudin Hj. Ninggal, and other senior officials.