Wednesday, December 10, 2008
Channel NewsAsia - Wednesday, December 10SINGAPORE: Despite the tough economic times, more than 60 corporations and individuals have contributed a total of S$24.7 million to the Singapore Management University (SMU).
The money goes towards the endowment fund for the new Sim Kee Boon Institute for Financial Economics (SKBI).
Their contributions mean the institute has met its targeted S$17 million endowment in less than six months since it was launched in July.
President S R Nathan acknowledged the donors' generosity at a dinner at the Istana Tuesday evening.
The sum raised will be matched dollar--for--dollar by the government.
SKBI is named after one of Singapore's pioneer civil servants, the late Mr Sim Kee Boon.
It was set up to become a leading think tank in the area of financial economics and econometrics in Asia.
It is also the first establishment in Singapore to be named after the late Mr Sim.
-- CNA/yt
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