GEORGE TOWN, April 1 — Penang today launched an RM20 million Penang Future Foundation (PFF) scholarship scheme in a bid to reverse the outflow of talent there.
Penang Chief Minister Lim Guan Eng, who launched the scholarship programme today, said the scholarships will benefit all local students pursuing courses in science, technology, mathematics and accountancy.
“This is part of the state’s efforts to nurture Penang as a talent hub and the programme will also require PFF sponsored scholars to work in Penang,” he said when officially launching the awards.
The PFF is open to all Malaysians below the age of 25, with a minimum cumulative grade point average of 3.0, and a household income of not more than RM15,000 per month.
Lim said priority will be given to Penang residents and that scholars who completed their studies must serve a bond period based on the value of awarded scholarship.
The scholars will be bonded to one year’s work in Penang for every RM20,000 in tuition fees awarded, with a minimum bond period of one year, but may choose to serve this in any organisation or company of their choosing.
Lim said PFF is privately funded, with the Penang Turf Club donating a substantial sum to the programme.
“We have received pledges of donations from the private sector amounting to more than RM40 million to fund PFF but currently, we are starting with the RM20 million we have already received,” he said.
The PFF is only for full-time, first-degree undergraduates in local and private universities studying MQA-accredited courses in science, technology, engineering, mathematics and accountancy.
The scholarship award will include RM12,000 subsistence allowance per year and tuition fee for the entire course not exceeding RM100,000.
Those interested may find out more about the foundation at penangfuturefoundation.my.
Online applications for the scholarships will be open from April 9 to 30.