Penang chief minister Lim Guan Eng has launched the 'Penang Future Foundation' scholarship programme, funded by the private sector and worth RM20 million initially. – The Malaysian Insider pic, April 1, 2015.The Penang government has launched its 'Penang Future Foundation' (PFF) scholarship programme, which will offer RM20 million to sponsor the studies of young Malaysians pursuing their first degrees.
Chief Minister Lim Guan Eng said the scholarships would be awarded to outstanding and deserving Malaysians aged 25 and below to assist them in pursuing their undergraduate studies in selected fields at local and private institutions of higher learning.
He said all the scholarship recipients needed to do was work in Penang after they graduate.
"We are liberal and flexible in this aspect too. They don't have to work for the state government.
"They can work in any company of their choice as long as they are here in Penang," he told a press conference in Komtar today.
The scholarship is open to those taking MQA accredited courses in science, mathematics, technology, engineering, and accountancy; with a minimum CGPA of 3.0 in STPM, matriculation, diploma or equivalent; and those already pursuing their studies in the selected courses at a local institution with a 3.0 CGPA.
The applicants' household income must not exceed RM15,000 a month.
The scholarship programme will also give priority to applicants from Penang, and those with a good record in co-curricular activities and community service, skills in leadership, community and teamwork.
The duration of the service bond under the PFF programme will be according the the tuition fee awarded in the scholarship, i.e. a year for every RM20,000. The minimum period of service is one year.
Lim said the scholarship programme is administered by the state government with its secretariat at the Penang CAT Centre, but is fully funded by the private sector to ensure the programme's sustainability in the long-term.
"We are starting with RM20 million for now, but we are confident the amount will increase.
"There is commitment to double the amount. We are looking at the possibility of reaching RM50 million," he said, adding that the programme has generated interest in the private sector.
Penang, Lim said, has the brand name to attract young talent to work in the state.
"This initiative is in-line with the state's commitment in building talent.
"To continue sustainable economic prosperity requires higher productivity growth. Innovation is the key driver for development.
"We must establish creative or innovation clusters. Penang has the talent, technology and tolerance of new ideas to nurture creative clusters," he said.
The online application opens from April 9 and closes on April 30.
Details on the programme.
- TMI
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