Million-dollar gift from ARA Asset Management & Lim Hoon Foundation to support needy SMU students
“During the Lunar New Year period, ARA Asset Management (ARA) and Lim Hoon Foundation would invite us to their corporate New Year reception, after which Mr John Lim would invite us to his house for a visit. Quarterly staff engagement events, such as bowling tournaments, also provided us with a platform to bond with the ARA’s staff. A three-month internship at ARA gave us insights on the REITS industry and a further interaction with the company. We also caught a movie together – Harry Potter and the Deathly Hallows Part 1, and Mr Lim joined us!” recounted Joyce about her journey as an ARA Scholar.
Joyce Wong, who has been an ARA Scholar since 2009, graduated from SMU in July this year. The business graduate was speaking on behalf of her fellow scholars at an appreciation lunch held on 22 October to thank ARA and Lim Hoon Foundation for their generous support towards SMU since 2008.
“The highlight of the ARA and Lim Hoon Foundation journey must have been when we joined in the company’s 10th Anniversary Celebratory Dinner in 2012. My fellow scholars and I were very privileged to be part of the celebration of ARA’s success."
“That’s not all. The management staff took time off their busy schedules to grace our graduation ceremony. This was most heartening to the six of us in the graduating batch... Through the years, ARA and Lim Hoon Foundation never failed to make my fellow scholars and me feel like we're part of the family.”
[Photo: In appreciation of the generosity of ARA Asset Management and Lim Hoon Foundation, SMU has named, in perpetuity, a seminar room at the Lee Kong Chian School of Business after the donors. (Left to right) Professor Arnoud De Meyer, Mr John Lim and Mr Andy Lim (Director, Lim Hoon Foundation) unveiling the plaque outside the ARA-Lim Hoon Seminar Room.]
Indeed, ARA has been exceptional in engaging SMU’s scholars through internships, company activities and also community outreach programmes. “Such initiatives and efforts not only enable the scholars to better understand the company and feel more connected to it, they also enhance our students’ character, development and social responsibility, long after they graduate,” commented SMU President Professor Around De Meyer.
Between 2009 and 2012, ARA and Lim Hoon Foundation had awarded S$225,000 to fund 12 SMU scholars through the ARA Asset Management Limited Scholarship and the Lim Hoon Foundation Scholarship. A joint endowed gift of S$1 million this year further enabled the award of new bond-free scholarships to six freshmen this academic year; going forward, it will also support eight scholars each year, via the new ARA-Lim Hoon Scholarship.
The Scholarship will be awarded to needy students and aims to motivate these students to achieve educational excellence by providing them with financial support. Joyce, who is from a humble family background, can fully appreciate the significance of such financial assistance.
“SMU was my preferred university choice as I really wanted to experience its well-known unique pedagogy, but it would have created a heavier burden on my parents. ARA’s scholarship, which came at the last moment, was a huge relief and a joy as an education at SMU became a reality for me,” shared Joyce, who now devotes her energy and time to Just Fly, a business venture she set up in her first year of study in SMU.
[Photo: Joyce Wong (right) pictured with Mr John Lim]
Commenting on the endowed contribution, ARA Group CEO, Mr John Lim said: “We strongly believe in the ‘multiplier effect’ of education and are delighted to be working with a distinguished institution like SMU. ARA believes that contributing to the community as a good corporate citizen is important and we have accelerated our efforts over the years. Sustainability is critical in philanthropy and the endowed contribution will enable us to fund the scholarships on an on-going basis.”
The Lim Hoon Foundation is a private charitable trust created in 2008. It is named in memory of Mr John Lim’s late father who was a committed educator and a former vice principal of Tao Nan School in Singapore. The foundation is currently working with Jurong Spring Grassroots Organisation and has awarded 93 bursaries to students at the Lim Hoon Foundation Community Education Awards in June 2013.
[Feature Photo: (2nd to 5th from left) Ng Keng Leong, Ivan Ng Zhengxiong, Joyce Wong Shu Ling and Sin Ming Long celebrating their graduation with Ms Pauline Lim (left), Senior Manager, Group HR & Corporate Development and Mr Ng Beng Tiong (right), CEO and Director Corporate Office, ARA Asset Management.]
