GEORGE TOWN: The Penang government has launched its Penang Future Foundation (PFF) scholarship programme, which will offer RM20 million to sponsor the studies of young Malaysians pursuing their first degrees.

Penang Chief Minister Lim Guan Eng said the scholarships will be awarded to outstanding and deserving Malaysians aged 25 and below to assist them in pursuing their undergraduate studies in selected fields at local and private institutions of higher learning. He said all the scholarship recipients need to do is to work in Penang after they graduate.

“They don’t have to work for the state government. They can work in any company of their choice as long as they are here in Penang,” he told a press conference in Komtar yesterday.

The scholarship is open to those taking Malaysian Qualifications Agency-accredited courses in science, mathematics, technology, engineering and accountancy — with a minimum Cumulative Grade Point Average (CGPA) of 3.0 in STPM, matriculation, diploma or equivalent — and those already pursuing their studies in the selected courses at any local institution with a CGPA of 3.0.

The applicants’ household income must not exceed RM15,000 a month.

The scholarship programme will also give priority to applicants from Penang and those with a good record in co-curricular activities and community service — skills in leadership, community and teamwork.

The duration of the service bond under the PFF programme will be based on the tuition fee awarded in the scholarship, for example, a year for every RM20,000. The minimum period of service is one year.

Guan Eng said the scholarship programme is administered by the state government with its secretariat in the Penang Career Assistance and Talent Centre, but is fully funded by the private sector to ensure the programme’s sustainability in the long term.

“We are starting with RM20 million for now, but we are confident the amount will increase.

“There is commitment to double the amount. We are looking at the possibility of reaching RM50 million,” he said, adding that the programme has generated interest in the private sector.

“This initiative is in line with the state’s commitment in building talent.

“Sustainable economic prosperity requires higher productivity growth. Innovation is the key driver for development.”

The online application opens from April 9 and closes on April 30. — The Malaysian Insider

This article first appeared in The Edge Financial Daily, on April 2, 2015.