CM urges firms to sponsor Penang Future Foundation scholarship, says cash running out
Source: Malay Mail
Author: Opalyn Mok
GEORGE TOWN, March 14 -- The Penang state government is appealing for corporate donations to keep its Penang Future Foundation (PFF) scholarships open for deserving students.
Penang Chief Minister Chow Kon Yeow said the PFF started with RM40 million 10 years ago, which would run out in the next few years unless renewed.
"Since it's a scholarship programme, the funds go out and we do not get any returns, so, it's depleting and we now have less than RM10 million," he said in a press conference at his office in Komtar today.
"We were not actively pursuing contributions from the private sector all these years so the funds were depleting every year."
Since the scholarships were for students pursuing courses in Science, Technology, Engineering, and Mathematics (STEM) as well as Accountancy and Finance, he said the scholars are then bound to work in the private sector in Penang.
"So, we are appealing to the industry to contribute to PFF as these scholars will eventually work for them," he said.
He said the private sector should contribute to the fund and help the state foster the local talent that would then be available to them.
Chow said the PFF has awarded scholarships to 700 students between 2015 and 2022.
The PFF offers two scholarships: Penang Scholar and Mutiara Scholar.
For the 2023 selection process, Chow said 43 students were selected for the Penang Scholar award and another eight for the Mutiara Scholar award.
The Penang Scholar category is for students with strong academic performance while the Mutiara Scholar category is for those from underprivileged backgrounds.
Chow said that since the start, a total 475 PFF scholars have graduated, and 214 who have completed their service bond are working in multinational corporations (MNC) and small-medium enterprises (SME) in Penang.
Another 254 scholars are still serving their service bonds.
PFF scholars are bonded to work in any organisation of their choice within Penang for between two and five years, depending on the sum of their scholarship.
"Though we have received significant contributions in the past from among others, NI and local property developer, Hunza Group, surely there can be more financial support from Penang's strong ensemble of more than 350 MNCs and 4,000 SMEs," he said.
He said without support from stakeholders, the upcoming PFF 2024 scholarship award could be one of the last.
Meanwhile, when asked about the plight of the Penang House of Music (PHOM) that is facing permanent closure, Chow said it is up to the organisation to negotiate with the shoplot owner with regards to their rental arrears.
He said any offers by third parties to assist the organisation would be welcomed.
"The fact is they had to vacate the premises because of outstanding rental," he said.
He said it is now between the organisation and the shoplot owner to resolve the issue.
"The state has been giving them a grant of RM500,000 annually so they have to use it the best way possible including paying rent and other expenses," he said.
He said the annual grant was to help the organisation and it has to be able to manage it well to stay afloat.
PHOM has announced on its Facebook page that it will close its doors permanently on this Saturday due to financial constraints.
Located on the fourth floor of Komtar's ICT Mall, PHOM was founded by Paul Augustin in 2016 and received an initial fund of RM3 million from the Penang Water Supply Corporation.
The music museum features Penang's musical journey starting from the 1900s through the Japanese occupation in the early 1940s and to the glory days of the 1960s and 70s.
Among the singers featured included P. Ramlee, Saloma, Ahmad Daud, Ahmad Nawab, Zainal Alam, Rubia Lubis, Jimmy Boyle, Ooi Eow Jin, Albert Yeoh, Richard Hoon, Lee Yee and David Arumugam.
It also featured various musical and arts genres such as ronggeng, bangsawan and boria.
It has a radio studio where visitors can try their hand at being deejays and record their presentations as keepsake.
It also has a diorama of a 1960s coffee shop complete with a jukebox and Rediffusion audio box.