MORE than half of 700 recipients of the Penang Future Foundation (PFF)'s scholarships have secured jobs in the Bayan Lepas Free Industrial Zone and the services sector here.
In the past 10 years, many of PFF scholarship holders, who are bonded to work in Penang upon graduation, have helped consolidate the state's standing as a regional hub for electrical and electronics manufacturing, said Chief Minister Chow Kon Yeow.
PFF, which is managed through donations and public contributions is a state initiative to sponsor bright students to complete their studies with honours, as part of efforts to retain brain power here.
But now PFF's funds are depleting - less than RM5 million left it in its coffers, and the state is urging industrialists and the private sector to donate generously to it, especially in helping the state to retain graduates in Science, Technology, Engineering, Accountancy and Mathematics.
Over the past 10 - years, PFF has contributed scholarships to hundreds; this year, 54 students have been selected – 49 under the Penang Scholar category and five under the Mutiara category.
Chow says the state government will do its best to keep the PFF going to ensure a steady pipeline of talent to meet the growing demands of the industry.
“Our funds are drying up, and we have less than RM5 million left, which may only last for about two more years. The arguments remain that the state government must do more to provide a bottomless talent pool. That is a tall order, but it is also a reality that such a commitment places a high financial strain on the state’s already limited resources."
The total scholarships awarded for 2024 recipients stands at RM2.7 million.
Since its inception in 2015, PFF has provided scholarships to 805 students, amounting to over RM40 million.
“These two distinct scholarship awards are designed to encourage the academic high-flyers to maintain a strong academic performance in the Penang Scholar category, and to help those from disadvantaged financial backgrounds under the Mutiara Scholar category,” Chow said.
Marking its 10th anniversary this year, the state remains committed to sustaining the PFF initiative.
Chow emphasised that as Penang charts its industrialisation journey for the next 50 years, it is crucial to maintain a steady pipeline of talent to meet growing demand.
Corporate figure Datuk Seri Nazir Ariff, who is a PFF selection panel member, said that many people remained unaware of the PFF, which helps needy students to complete their tertiary education.
The four scholarship recipients – Kavinesh Reddy Gopalakrishnan, Muhamamad Danial Adzha Syamsul Adzha, Ng Chin Qi and Samantha Law Zhi Wei extended their gratitude to the state and pledged to help their home state upon graduation. - March 21, 2025
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