NOL endows scholarship to honour Lua Cheng Eng

NOL Group endowed a $400,000 gift to SMU to set up a scholarship to commemorate the late Lua Cheng Eng, who passed away last November at the age of 72. Mr Lua was CEO of the container shipping and logistics company for 22 years in the 1970s, ‘80s and ‘90s He was best remembered as the architect of NOL’s 1997 acquisition of American President Lines.

“Lua Cheng Eng was a visionary leader for our company and for Singapore,” said NOL Chairman Cheng Wai Keung. “We are pleased to honour his memory in a way he would appreciate – helping young people reach their full potential.”

The Lua Cheng Eng Memorial Scholarship will provide two $12,000 grants annually to qualifying undergraduates. The first two scholarships will be awarded for the 2011-12 academic year.

Said SMU Dean of Students, Associate Professor Low Aik Meng. “We want to thank NOL and the family of the late Mr Lua Cheng Eng for their generosity and for sharing in the vision of an SMU education. This gift provides financial support for our undergraduates to take advantage of the complete SMU experience, including the myriad of enrichment programmes at SMU, such as overseas study trips, university exchanges, and leadership and community service outreach projects. We are grateful for the support given to our students and we are proud to be part of this tribute to a visionary leader and strategic thinker, Mr Lua.”

Mr Lua joined NOL in 1969 and ascended to the company’s top management post in 1977. In addition to the APL purchase – the largest deal in Singapore maritime history -- he oversaw NOL’s listing on the Singapore stock exchange and its growth as one of the world’s largest and most influential container shipping lines.