SMU receives S$500,000 endowed gift from Dubai-based Emirates National Oil Company
Singapore, 12 January 2018 (Friday) – Mapletree Investments (“Mapletree”) and Singapore Management University (“SMU”) are pleased to jointly announce the launch of a multi-faceted Mapletree Real Estate Programme (“Programme”). The Programme, which is a first of its kind, aims to equip students with the necessary knowledge and cross-disciplinary skills to navigate the growing real estate sector in Singapore and globally.
The Mapletree Real Estate Programme has been made possibla
Singapore, Tuesday, 22 March 2011 – The Singapore Management University has received an endowed gift of S$500,000 from the Dubai oil and gas group, Emirates National Oil Company LLC (ENOC). In recognition of ENOC's generosity, SMU has named in perpetuity a Seminar Room at the Lee Kong Chian School of Business after the company. The gift, which will go towards student and faculty development, attracts a 1:1 matching by the Singapore government for SMU's endowment.
To thank and recognise ENOC for their support of higher education and research at SMU, Seminar Room 3.10 on Level 3 of the Lee Kong Chian School of Business (LKCSB) will be named the Emirates National Oil Company LLC (ENOC) Seminar Room. At a simple dedication ceremony today, a plaque bearing the name was unveiled and will be displayed prominently at the entrance of the endowed room, in perpetuity.
The global energy group has demonstrated an interest in developing young talents through its growing partnership with SMU over the years. Since 2006, it has supported students on the International Trading Track set up to groom young trading talents and the International Trading Institute with a gift of S$180,000. This has gone towards initiatives such as, scholarships, overseas study missions and industry visits. ENOC has also supported many student activities such as the Business Study Mission to the Middle East, a course offered by LKCSB. The support for the course has included hosting students on study visits to the headquarters in Dubai and offering internships.
Mr Saeed Khoory, CEO of ENOC, says, “Singapore is one of our key global markets, and our partnership with the Singapore Management University further reiterates the importance we place on education. The grant, which reflects the vision of the Government of Dubai in boosting collaborative ventures in global education, will contribute towards nurturing a talent pool of professionals as well as boosting the skills and competencies of the faculty. We are thankful to SMU for naming the Seminar Room at the Lee Kong Chian School of Business after ENOC, which not only cements our mutual collaboration but also will encourage students to know further about our organisation and Dubai.”
On receiving the generous gift, Professor Rajendra Srivastava, Provost and Deputy President (Academic Affairs) of SMU, said “We are deeply grateful to ENOC for their largesse over the years in strong support of our mission to develop confident, articulate and global-oriented graduates with a strong sense of social responsibility. In line with its deepening engagement with SMU, this is the biggest gift by the Group to an educational institution in Singapore. We are extremely honoured by this. We are fortunate to receive such staunch support from the industry, who see the value of the SMU education we are providing to our students and are joining us in this endeavour. ”
The ENOC Seminar Room is specially designed to support SMU's unique pedagogy of a “seminar-style” approach that encourages greater interaction and lively discussions between students and their professors. It seats up to 50 students and is fully equipped with state-of-the-art technology. The Seminar Room is also designed to complement graduate and professional learning, as well as seminars, workshops and training for the public.
About ENOC
Established in 1993 as a wholly-owned company of the Government of Dubai, ENOC aims to promote the interests of its shareholders through the development of further downstream and upstream activities in the oil and gas sector and beyond, and to encourage the economic diversification of Dubai and the rest of the UAE.
ENOC's vision is to be a leading regional integrated oil & gas group that is highly profitable and socially responsible towards employees, the community and environment. Driving this vision, ENOC is committed to achieving sustainable development and highly profitable growth and serving the growing energy needs of Dubai.
ENOC strives to attract, develop and retain top talent to become the employer of choice, while adopting latest technologies and implementing best practices to achieve world-class performance. ENOC is also focused on meeting and exceeding customer expectations in terms of quality and service, and in maintaining high industry standards with respect to environment, health and safety.
ENOC actively participates in an increasingly broad range of business ventures. Its joint ventures with major international companies allow partners to pool their technology, know-how and expertise along with their resources to further their commercial success.
Since its inception, ENOC has been guided by its philosophy of quality and professional management based on modern business concepts for commercial success and sustainable growth. Today it is poised to engineer a new and challenging period of growth and diversity.
About the International Trading Institute at SMU
The International Trading Institute (ITI) @ SMU was formed in May 2007 as the result of a tripartite collaboration between Singapore Management University (SMU), International Enterprise Singapore (IE Singapore) and leading industry players. The first trading institute in the world to be set up within a university, ITI boasts a specialist focus on international trading and is supported by a unique public-private partnership. ITI aims to establish itself as the premier industry platform for thought leadership in the arena of international trading.
ITI's areas of focus are:
- delivering training and education in international trading at undergraduate as well as executive and professional levels
- conducting and disseminating high quality applied research in international trading with an Asian flavour
- providing consultancy services for trading and related organisations in Singapore and the region
The strategic development and direction of ITI are steered by the ITI Advisory Council, which draws on the expertise guidance of a panel of senior representatives from key commodity trading sectors including oil, agri-commodities and metal, as well as from SMU and IE Singapore.
About the SMU Business Study Missions
Using a country-specific study as its base, the ‘Business Study Mission' course offered in SMU examines the rapidly developing business environment and the available opportunities in a particular city or region. Particular emphasis is placed on the socio-political, cultural, legal environments, and the influence they exert on business practices. Introduced in 2002, SMU is the forerunner in Singapore to introduce such a course, typically to MBA students, at the undergraduate level.
Through case studies, student projects and guest lectures, the course aims to present students with real-life environmental influences and challenges that impact businesses in the city or region. The course culminates in a trip to the location itself usually the main city which is the subject of the study, where through a host of site visits, networking sessions, and presentations by prominent individuals from both private and public sectors, it aims to facilitate the development of a greater understanding of the city.
Participating students return with an enriched knowledge not just of its business developments and the lessons that can be drawn from them, but also of the rich culture and history of the country. Both of the above, too, will aid participating students in extending their personal networks to the region.
To date, more than 1,400 SMU undergraduates have embarked on business study missions to countries and regions such as Argentina, Bahrain, Bangalore, Chile, China, Germany, India, Israel, Qatar, Russia, Saudi Arabia, Scandinavia, South Korea, Spain, UAE, USA and Vietnam.
e by a generous endowed gift of S$3 million from Mapletree to SMU. With a 1:1 government matching, the total sum of S$6 million will go towards the establishment of the Mapletree Professorship in Real Estate, Mapletree Awards, Mapletree Real Estate Business Study Trip Grant, as well as Mapletree Speaker Events.
Additionally, to develop a pipeline of real estate investment talent to fuel the growing sector, SMU will offer a new Real Estate Track to all SMU undergraduates who are majoring (first or second major) in Finance or Economics. This unique and pioneering specialisation, which focuses on real estate investment and finance, will be offered as part of SMU’s undergraduate curriculum from Academic Year (AY) 2018.
To gather insights into evolving industry trends, input on SMU’s real estate curriculum, as well as advice on impactful research initiatives, the University has also recently set up the SMU Advisory Board for Real Estate Programme, comprising 11 members who are esteemed leaders in the fields of real estate, tax, investment and finance, and law. This Advisory Board is chaired by Mapletree’s Group Chief Financial Officer, Mr Wong Mun Hoong, and co-chaired by SMU’s Dean of Lee Kong Chian School of Business, Professor Gerard George.
Professor Gerard George, Dean of SMU Lee Kong Chian School of Business, said, “We are delighted to co-create a real estate finance specialisation with industry partners that caters to the industry’s talent needs. In Mapletree, we found a like-minded partner with a passion for developing the next generation of real estate finance professionals. Mapletree’s gift, which will support our Real Estate Track in many ways, will certainly enhance the learning opportunities for our students.”
Mr Hiew Yoon Khong, Mapletree Group Chief Executive Officer, said, "Education is one of the four key pillars of Mapletree’s corporate social responsibility programme. We hope to provide students with skillsets essential for globally active real estate companies, as their competitive edge. It is our wish that this Real Estate Track at SMU will groom a new generation of practitioners who will meet the demands of professionally managed real estate companies focusing on international investments and development opportunities.”
SMU Provost, Professor Lily Kong, said, “We are very grateful to Mapletree for their generous gift and the confidence they have placed in SMU. This partnership is an affirmation of the research excellence of our University as we strengthen our efforts to generate thought leadership around real estate investment and finance through our faculty expertise. It also exemplifies the industry’s recognition of our teaching excellence. With multi-disciplinary expertise, and real estate-specific skills and knowledge, I am confident that students graduating from the Real Estate Track will be highly sought after by the sector.”
Professor of Finance Francis Koh from SMU Lee Kong Chian School of Business has been named the first Mapletree Professor of Real Estate. Professor Koh will work closely with the above-mentioned Advisory Board and industry leaders to develop and implement the Real Estate Track, as well as provide leadership in real estate research. He will also deliver the inaugural Mapletree Lecture in Real Estate scheduled to take place in the last quarter of 2018.
SMU and Mapletree have strong partnership ties. Since 2013, Mapletree has awarded 20 Mapletree Bursaries to 15 underprivileged students to motivate them to achieve educational excellence by providing them with financial support. To date, 11 of the recipients have graduated, and four are still pursuing their undergraduate studies at SMU.
SMU Real Estate Track
Commencing AY2018, the new Real Estate Track is open to all SMU undergraduates who are majoring (first or second major) in Finance or Economics. Designed with industrial inputs, the course content leverages their firm foundation in finance and economics, and further equips undergraduates with specialised knowledge and multi-disciplinary expertise which are essential to tap the real estate market for investments in the region and beyond.
The curriculum is cross-disciplinary, comprising compulsory modules such as real estate economics, real estate investments & finance and real estate law; and other modules such as valuation and taxation, project financing, infrastructure finance, urban economics and policy, and real estate development. Academic courses are complemented with exposure to real-world business practices, case studies and experiential learning opportunities, such as speaker events, local and overseas internships, as well as local and overseas study trips, giving them the opportunity to apply their classroom knowledge in real life corporate case studies and access to mentors and resources.
On top of supporting overseas study trips through the Study Trip Grant, Mapletree will annually sponsor five bond-free Mapletree Awards valued at $8,000 each to students enrolled into the Real Estate Track. Award recipients will also be offered internship opportunities at Mapletree.
The Real Estate Track will prepare students for diverse roles including real estate investment and development, advisory, leasing, financing; Real Estate Investment Trusts (REITs) management; investment banking; consulting and agency management. Graduates will be well-placed to take up positions in commercial and private banks, real estate consulting companies, real estate developers and REITs.
hoto: Speaking to reporters at a joint press briefing held on 12 January 2018 were (L-R) SMU's Prof Francis Koh and Prof Gerard George; and Mapletree's Mr Wong Mun Hoong and Mr Wan Kwong Weng.
Featured photo: Mapletree Investments Chairman, Mr Edmund Cheng, presenting Mapletree's gift of S$3 million to SMU President, Prof Arnoud De Meyer.
