PENANG, 1 August 2012 - Toray Industries (Malaysia) Sdn. Bhd (Toray) which has been an industry partner with Universiti Sains Malaysia (USM) since the 1980s, agreed to contribute funding a scholarship fund for USM students for five years starting this year.
USM Vice-Chancellor, Prof. Dato' Omar Osman said the funding was extended to 10 recipients for the year 2012, followed by at least four recipients for the next four years.
He said each eligible recipient will be given scholarships worth RM9,000 per annum, covering two semesters.“On the whole, Toray has agreed to fund at least 26 students selected competitively as scholarship recipients during the next five years.
“We are pleased with the commitment shown by the industry and industry partners should consider continuing this kind of initiative with greater involvement to reduce the burden of financing that the students faced,'' he said.
“We are pleased with the commitment shown by the industry and hope this kind of initiative should be continued with greater involvement of industry partners to reduce the students’ burden of financing their studies,'' he said.
He said this at a press conference after signing a memorandum of agreement (MoA) between USM and Toray here today. Toray is represented by its managing director, Hiroshi Yoshimura.
Omar added that the payment involves large amounts of funds and it is exclusively for undergraduate students pursuing their studies in fields such as Civil Engineering, Electrical and Electronic, Mechanical, Materials and Mineral Resources, and Chemical Sciences.
“Toray has displayed the spirit of camaraderie and cooperation with USM in various matters, including providing funds for education and research development,'' he said.
Moreover, he said that the channeling of funds can increase the amount of sponsorship for eligible students’ benefit as well as to reduce dependence on government agencies that offer loans.