About UM Endowment Fund (UMEF)
Background
The initiative to establish UMEF stems from the idea of YBhg. Dato' Ahmad Nazri Abdullah, a member of the University of Malaya Alumni Association (PAUM) and also a member of the University Board of Directors (LPU), aiming to address the financial constraints of the University and ensure UM's competitiveness and sustainability in the future;
This project also received strong support from the Patron of PAUM, YB Datuk Seri Anwar Ibrahim, the Chairman of UM LPU, YM Tengku Datuk Dr. Mohd Azzman Shariffadeen Tengku Ibrahim, as well as YBhg. Datuk Hj Noordin Abd Razak, President of the UM Alumni Association (PAUM).
Justification for UMEF is as follows:
From a moral and intellectual standpoint, the University of Malaya should be free from political authority and economic power that may hinder efforts to make UM a center of excellence on par with leading universities in the world;
UM should be funded by public funds for the benefit of the people in the context of a democratic society to meet the framework of Malaysia's national development;
The Chairman of LPU's desire to help build a UM Angel Investors network among alumni;
Starting from 2016, the government only approved the Management Expenditure allocation for Bahaja Emoluments for Research Universities, while other operational expenses are covered using internal university resources.
Increased university management expenditure, which is rising due to rising costs, is feared to have a negative impact on university development, especially in the aspects of teaching and learning as well as research, which indirectly may affect UM's reputation in world rankings;
In line with the endowment concept, contributions received from donors will be invested for a certain period to have a long-term impact. Expenses for the UMEF Fund are based on the amount of income received from these investments without affecting the principal investment amount;
The Launching Ceremony of UMEF was held on July 6, 2019, at the Tunku Chancellor Hall, UM, at 8:00 pm. The launch was officiated by YB Dr. Maszlee Malik, the Minister of Education Malaysia, and the Patron of PAUM, YB Datuk Seri Anwar Ibrahim, also delivered the keynote address on the launching night;
The UMEF Committee has been established to implement this project as follows:
STEERING COMMITTEE
PATRON OF PAUM
YB Datuk Seri Anwar Ibrahim
UM BOARD OF DIRECTORS (CHAIRMAN)
YBhg. Tan Sri Zarinah Anwar
PAUM PRESIDENT
YBhg. Dato' Azmi Mohd Ali
UM VICE-CHANCELLOR
YBhg. Professor Dato' Seri Ir. Dr. Noor Azuan Abu Osman
UMEF Objectives
(1) To generate a target collection of RM200 million in the form of endowments from philanthropic individuals, corporate entities, and alumni, which will be used for the following purposes:
(2) To establish a close network between the University and alumni while fostering a culture of concern and philanthropy to jointly support the alma mater;
(3) This initiative is in line with the government's desire to return autonomy to Public Universities.
Last Update: 07/03/2024