Peking University receives largest donation in history
21/11/2006 17:20
China's prestigious Peking University has received a record 173.3 million
yuan (US$21.9 million) from the inheritance fund of a late Singaporean
billionaire.
The president of Peking University Xu Zhihong and Mavis Oei,
daughter of late Singaporean banker Khoo Teck Puat, signed a donation contract
yesterday. A better part of the donation - 150 million yuan (US$19 million) -
will be spent on the construction of a new gymnasium and a table tennis arena to
be used for the 2008 Beijing Olympics.
"The new gymnasium and the major
conference hall of a school of governmental administration under the university
will be named after Khoo Teck Puat," said Xu. The new gymnasium is expected to
be completed next August.
"The government spends eight million yuan on
developing the university infrastructure each year, only 10 percent of its total
cost," said Chen Wenshen, vice president of the university.
"Most of the
money we need we have to raise ourselves," said Chen.
Khoo Teck Puat was
formerly listed as the richest man in Singapore by Forbes. He died in February
2004, leaving a legacy of 700 million Singaporean dollars (US$448.3
million).
Khoo's children distribute the fund to medical treatment, health
care and education, according to his wishes.
xinhua
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