PRESS STATEMENT BY YAB CHOW KON YEOW (PFF)

PRESS STATEMENT BY YAB CHOW KON YEOW, CHIEF MINISTER OF PENANG

KOMTAR, GEORGE TOWN, 11 MAY 2022

 

Penang Future Foundation (“PFF”) started in 2015 as the Penang State Government’s initiative to aid outstanding and deserving Malaysian youths to pursue tertiary studies in public/private universities in Malaysia. With valuable contribution from the private sector and donors, and recognizing the importance of education and the need to retain local talents, PFF has awarded approximately 655 scholarships over the last 7 years. For year 2021 alone, 70 students were awarded scholarships with the projected total value of RM3.6 million. Selected scholars come from a diverse range of backgrounds and are enrolled in fields of Science, Technology, Engineering, Mathematics, Accountancy and Finance.

Now in its eighth year, this scholarship fund remains as one of Penang State Government’s mechanisms in attracting, building and retaining human talent. Based on the approved investment report for year 2021 by the Malaysian Investment Development Authority (MIDA), the State recorded its all-time high of RM76.2 billion in total approved manufacturing investments, a record which significantly outpaced Penang’s past performances. In particular, 98% of the total investment inflows were contributed by foreign direct investments (FDI), firmly placing Penang as Malaysia’s top FDI recipient, accounting for 41% of the country’s total FDI.

Against a background of cautious recovery for the global economy, Penang’s exports climbed 14% year-on-year in 2021, reaching its all-time high of RM354 billion and making it the nation's highest contributor in exports. Notably, Penang’s exports are dominated by the electrical and electronic (E&E) products. We expect the strong trade momentum to continue in 2022. To uphold Penang’s competitive edge, the State Government constantly ensures the provision of world-class infrastructure and skilled talent. Holding on to that, the State will elevate its liveability stature and continue its multi-faceted initiatives in developing and ramping the talent supply, with the aspiration of harnessing greater possibilities.

Prospective students may apply to be either a ‘PFF Penang Scholar’ or ‘PFF Mutiara Scholar’. Interested candidates are advised to check the eligibility requirements for each category. Both categories have different eligibility criteria based on, among others, candidates’ financial background and scholastic record. ‘PFF Penang Scholar’ caters for those with CGPA of 3.67 and above whereas ‘PFF Mutiara Scholar’ is available for applicants whose CGPA is between 3.00 to 3.66. Successful applicants will receive benefits that correspond with the scholarship awarded to them. Detailed information on benefits and terms of the scholarship is available at PFF’s website (www.penangfuturefoundation.my).  

Application window for PFF Scholarship 2022 will open from 1 July 2022 to 22 July 2022. Interested students are encouraged to keep a lookout for periodic announcements through PFF’s website at www.penangfuturefoundation.my; Buletin Mutiara’s distributed free copies; and social media websites including Facebook and Twitter.