Through the generous donation of US$1 million by the Li & Fung (1906) Foundation Limited, 20 undergraduates pursuing any full-time degree at the University will benefit every year from university exchange to any of SMU’s foreign partner universities. Recipients of the scholarships will be known as Fung Scholars, and each will receive S$5,000 to fund the expenses of their exchange. The scholarship programme will also be awarded to selected Chinese mainland undergraduates to enable them to spend a semester or two at SMU. The gift will be matched by the Singapore Government and is the first time that the Foundation, a Hong Kong-registered charity, has made a contribution to a Singaporean tertiary institution.

Dr Victor Fung, Chairman of Li & Fung Group and founding member of SMU’s Board of Trustees, said he “Recogise(s) that the world today expects graduates to have an international outlook and exposure to diverse cultures and environments. The Li & Fung Scholarship programme will provide greater opportunities for more SMU undergraduates to spend up to a year overseas studying in a foreign university, experience a different culture and way of life, and benefit from a whole new network of international contacts.”