Prima Limited, one of Asia's pioneer flour millers with a strong international reputation in the food industry, has made an endowed contribution of $2 million to set up a new Scholarship to motivate outstanding incoming undergraduates of Sri Lankan nationality pursuing any degree programme at the Singapore Management University (SMU) to achieve academic excellence and to accord them the recognition for their accomplishments.
With matching contributions from the Singapore government, the total endowed fund for the Prima Ceylon Scholarship amounts to $3 million.
Mr Primus Cheng, Chairman and CEO of Prima Limited, and SMU President Professor Arnoud De Meyer signed the gift agreement at SMU today. Also present at the event were His Excellency Nimal Weeraratne, Sri Lanka's High Commissioner to Singapore, as well as senior management and staff from Prima Limited and SMU.
Mr Cheng said, "To mark the 40th anniversary of Prima Ceylon Private Limited, we think it is appropriate to donate to SMU to endow the “Prima Ceylon Scholarship” for the benefit of deserving Sri Lanka students studying at the university.”
Professor Arnoud De Meyer said, “We would like to express our sincere appreciation to Prima Limited for setting up the Prima Ceylon Scholarship at SMU. This new gift by Prima
Limited will not only take the Scholarship recipients on an educational journey that is holistic, and meaningful, it will also contribute to a richer and more vibrant educational environment in the university. We look forward to continuing this meaningful partnership with Prima Limited.”
The Scholarship will be awarded annually commencing Academic Year 2019-20 and in perpetuity to a student with demonstrated financial needs, offering financial support towards the recipient's annual tuition fees and/or study-related expenses. Each non-bonded scholarship of $90,000 is tenable for the recipient's four years of study, provided that the student maintains good results and continues to demonstrate high standards of personal conduct and remains active in community service and co-curricular activities. The recipient may be offered internship and/or recruitment opportunities by Prima Limited.
SMU and Prima Limited have a close and longstanding relationship stretching back to March 2000, just two months after SMU's establishment, when Mr Primus Cheng made an endowed gift of $1.5 million to SMU to establish the Cheng Tsang Man Professorship in Accountancy in honour of his late father, the Honorary Life President and Founder of Prima Ltd. To date, 27 internationally renowned accounting experts have held Visiting Professorships under this gift, conducting joint research with SMU faculty as well as delivering public lectures.
In April 2011, to commemorate Prima's 50th anniversary, Mr Primus Cheng made a $1 million endowed gift to SMU to establish the School of Accountancy Research Symposium, an annual research symposium which enables faculty from the School of Accountancy to interact with researchers from top schools worldwide.
