HK billionaire Richard Li donates RM900,000 to Malaysian student fund

KUALA LUMPUR: Hong Kong billionaire Richard Li (pic) has donated nearly RM900,000 to a fund that assists Malaysian students studying in the special administrative region, says Transport Minister Anthony Loke.

“I would like to express my deep appreciation to Li, whom I understand is a member of your delegation, for donating HK$1.5mil (RM880,000) in cash to the Malaysian student fund, without asking for anything in return,” he said at a business luncheon held between the Malaysia and Hong Kong Trade Development Council.

He said the donation was a reflection of strong trade ties shared by Malaysia and the Special Administrative Region.

Loke said the fund set up by the Malaysia Chamber of Commerce had been a huge help to many Malaysians studying in Hong Kong and Macau universities.

He said the chamber had raised a total of HK$15.6mil (RM9.1mil) over the past few years.

“Scholarships in cash to cover living expenses have been given in the past several years to 130 Malaysian students.

“So far, HK$10mil (RM5.8mil) has been disbursed to the students,” he added.

Li, who’s a known philanthropist, is the chairman and chief executive of the private investment group, Pacific Century Group, which is the parent company of telco group PCCW.

This year, Forbes also listed the net worth of Li at US$4.7bil, ranking him as the 20th richest person in Hong Kong.