SICC makes endowed contribution to SMU for international exchange scholarship in celebration of the 180th anniversary of its founding

Singapore, 24 March 2017 (Friday) – Singapore International Chamber of Commerce (SICC) has made an endowed contribution of $400,000 to SMU for the SICC International Exchange Scholarship (“Scholarship”) which was established in 2005.

Together with the government matching grant, the Scholarship will generate three exchange scholarships annually and in perpetuity.

Mr Chaly Mah, Chairman of SICC, presented the Scholarship cheque to SMU President Professor Arnoud De Meyer at the SICC 180th Anniversary Gala Dinner held at Marina Bay Sands today, graced by Guest-of-Honour Deputy Prime Minister Teo Chee Hean.

“SICC has always believed in the uplifting power of education which is why the Chamber has supported education in Singapore for many decades.” said Victor Mills, SICC Chief Executive. “SICC is delighted to continue its close collaboration with SMU and help more deserving students gain international exposure, learn more about the outside world and their own potential.”

SMU President Professor Arnoud De Meyer said, “We would like to express our sincere appreciation to SICC for making this endowed contribution. SMU and SICC have a close and longstanding relationship which has grown from strength to strength over the years. In 2015, SICC and SMU collaborated to celebrate SG50 by establishing an innovation competition to generate business ideas with commercial potential.

“At SMU, we encourage overseas exposure through community service projects, internships, study missions and student exchanges. Close to 90% of SMU undergraduates have experienced the world through SMU’s global exposure programme. This contribution by SICC will enable SMU to move closer to our target of having 100% of our students gain some form of global exposure.”

The objective of the Scholarship is to enable deserving full-time SMU undergraduate students to spend a semester of study per academic year at an overseas university.

Under the terms of the agreement, three non-bonded Scholarships, namely, one Scholarship to a student selected for exchange at the Wharton School in University of Pennsylvania, USA and two Scholarships to two students selected for exchange at any one of the universities from the ASEAN+31 University Network, will be awarded each academic year from 2016/2017. 

A Scholarship for exchange at the Wharton School will have a value of S$15,000; and a Scholarship for exchange at any one of the universities from the ASEAN+3 University Network will have a value of S$7,500.

The Scholarship is tenable for one semester of study abroad to full-time undergraduates who are Singaporeans or Singapore Permanent Residents pursuing any degree programme at SMU. The Scholarship will offer financial support towards their living and travel expenses.

Applicants to the Scholarship must demonstrate outstanding academic results, good leadership skills, active involvement in co-curricular activity and community service commitment. Due consideration will be given to the financial needs of students of equal merit.

1. ASEAN+3 refers to countries in ASEAN, China, Japan, and South Korea.