Steady! In Forbes magazine coat.
Sunway Group founder and chairman Tan Sri Dr Jeffrey Cheah Fook Ling is the only Malaysian listed in Forbes magazine's 15th round of leading philanthropists in Asia which includes entrepreneurs and business figures who have shown clear personal commitment in several aspects.
According to the magazine, the majority of those listed are new contributors but some of the contributors have received praise before listing for their achievements in making contributions to the community that justify re -listing.
The main selection criteria focused on higher education and philanthropic individuals in the Asia-Pacific region who contributed large amounts of personal wealth as well as giving personal time and attention to the purpose of their choice.
Meanwhile, Cheah had announced in September last year his plans to launch a RM1 billion endowment fund for Sunway Education Group's revenue from a tuition -dependent model to become self -sufficient and able to offer more scholarships.
According to sources from Forbes, the endowment came from Cheah’s own personal funds.
To make the plan a success, the Cheah foundation had earlier urged the Malaysian government to amend a policy requiring charities to spend at least 50% of their income by the following year so that the wealthy's donations could be invested and grow like endowments at universities in the United States.
Last year, Cheah donated RM88 million in grants and scholarships.
According to Cheah himself, he has donated more than RM600 million for scholarships so far and intends to contribute a total of RM1 billion in lifetime grants.
