Miri Teochew Association student loan scheme to be revived
Miri Teochew Association along with its former chairman Datuk Lau Siu Wai will be reactivating its student loan programme, for which a special committee has been established.
Speaking at a press conference yesterday, Lau said he introduced the programme back in 2001 when he was the association’s chairman.
“I offered one of the houses that were built by my company, Miri Housing Development Group, as an attraction in raising funds from the local community. The fund was to be used to support the children of the association’s members who may need some financial help in furthering their studies to tertiary level. At the time, we managed to raise up to RM500,000, which was half of the targeted amount.
“Later on, due to certain circumstances, I abruptly left the association, forcing the programme to be put aside. Over the span of more than 20 years, the money that was put in the bank had appreciated to RM780,000.
“Considering the money could be used for better purpose, I’ve contacted and proposed to the association to execute the student loan scheme that took a back seat for two decades,” said Lau, who is also the executive chairman of Miri Housing Development Group of Companies.
The 94-year-old also pledged that on his death, the director fee of his company would be deposited into the fund, topping it up to RM1 million.
He explained that his intention of launching the student loan is to help more students from poor families.
“I came to Miri over seven decades ago, with some money in my pocket. I worked many jobs while studying, because deep down I knew that I wouldn’t be able to get anywhere without education,” he said.
The founder of the now defunct Miri Secondary School strongly believes that no matter how poor a person is, he/she must not be deprived of the opportunity of education.
“Hence, the student loan programme that I proposed when I was the chairman of Miri Teochew Association. Even though it was a bit of a regret that I wasn’t able to execute it earlier, I hope that this programme can help more students in need, in furthering their tertiary education to university or college,” he told the press conference.
The committee, he explained, that will compose of Miri Teochew Association chairman Chai Took Eng and secretary Aini Kho; attorney Law Swee Huat, advisor Tay Choon Wei; as well as Ricky Lau and Edward Lau will be processing the list of applicants.
Those eligible would be students whose both parents or one of them are members of Miri Teochew Association.
“Most certainly, beneficiaries of the student loan would be required to pay back after completing their studies. By repaying the loan, the fund can be sustained and help more students in the future. The committee will have a discussion first on the terms and conditions as well as repayment scheme before proceeding with it later this year,” he said.