GEORGE TOWN, April 1 —Pleasure to announce the launch of our very own Penang Future Foundation (“PFF”). PFF is a scholarship program made possible by generous donations from private sectors and donors, including the Penang Turf Club. RM20 million Penang Future Foundation (PFF) scholarship scheme in a bid to reverse the outflow of talent there. Penang Chief Minister Lim Guan Eng, who launched the scholarship programme today, said the scholarships will benefit all local students pursuing courses in science, technology, mathematics and accountancy.
The scholarships are awarded by the Penang State Government to outstanding and deserving Malaysian youths to pursue their undergraduate studies in selected fields, at reputable institutions of higher learning in Malaysia. Despite being the second smallest state in Malaysia, the Penang State Government fully embraces the importance of inspiring and allowing our young Malaysian scholars, regardless of race, religion and gender, provided that they are below 25 years of age, to equip themselves with higher education; aims to provide our youths, with priority be given to Penangites and those from single, low to middle-income families, with ladders of opportunity and escalators to mobility as a foundation for a better future;
is thoroughly committed in exploring initiatives and creating opportunities to stem the tide of brain drain currently plaguing our nation; and seeks to nurture Penang as a talent hub, by requiring the PFF sponsored scholars to work in Penang after successful completion of studies. This objective is critical in our vision to transform Penang into an international and intelligent city. Penang faces scarce or hardly any natural resources. Our economic prosperity and material success depend solely on our ability to build, retain, attract and utilise human talent. ln short, Penang prospers or withers by our wits and wits alone.
To continue sustainable economic prosperity requires higher productivity growth. lnnovation is the key driver for future development. We must establish creative or innovation clusters. Penang has the ‘3Ts’ of talent, technology and tolerance of new ideas to nurture creative clusters. Talent requires our human resources to be skilled and knowledgeable, regardless whether they are from wealthy or poor backgrounds. The PFF aims to provide the capacity to train bright and promising talents for all Malaysians, particularly Penangites, regardless of race, religion, rich or poor. The scholarship award will include RM12,000 subsistence allowance per year and tuition fee for the entire course not exceeding RM100,000.
I highly encourage our young Malaysians seeking to further their studies to visit PFF’s website, www.penangfuturefoundation.my lnterested applicants will get to know more information on the scholarship, including the eligibility requirements, fields of study offered and timelines involved. Scholarship holders will be required to serve in Penang for a stated period depending on the tuition fees awarded. The online application will be made available from 9th to 30 April 2015.
ln the meantime, I sincerely hope many more corporate players will step forward and contribute towards PFF as all monetary contributions will be tax- exempted. lt is worth emphasising that the cornerstone of Malaysia’s future is made of how well we synergise our present resources. With more financial support, I trust PFF will consider extending our scholarship program in the near future for overseas admissions.