Friday, February 23, 2024
HomesingaporeTycoon Kwek Leng Beng donates $24m to SIT, funds to help nurture...

Tycoon Kwek Leng Beng donates $24m to SIT, funds to help nurture talent in hospitality sector

SINGAPORE – A tower at the upcoming Singapore Institute of Technology (SIT) campus in Punggol will be named after local tycoon Kwek Leng Beng, who on Thursday donated $24 million to the university.

The money – matched by the Government to bring the total SIT endowment to $60 million – is aimed at nurturing future talent, especially in the hospitality sector, the Hong Leong Group said in a statement.

The donation is timed to mark the launch of Mr Kwek’s new biography, which was launched on Thursday.

Mr Kwek, 82, rarely speaks to the press, and is chairman of Hong Leong Group and City Developments Limited.

The statement said: “Few knew that when he gave a nod for the book, Mr Kwek had one self-imposed condition: He wanted to mark the project’s completion with a meaningful donation to society.”

Earlier in 2023, Mr Kwek donated $720,000, which will go towards starting six new SIT academic initiatives, including bursaries and scholarships for SIT undergraduates enrolled in the hospitality business course, the statement added.

The Kwek Leng Beng University Tower aims to symbolise the tycoon’s commitment to education and the development of industry professionals, it said.

The 257-page biography is written by award-winning author Peh Shing Huei, who is the founding partner of content agency The Nutgraf.

It details Mr Kwek’s business philosophy and journey over six decades and is available at major bookshops, World Scientific Publishing and The Nutgraf Books.

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