Self-made entrepreneur gives back to alma mater TAR UMT with RM1mil annual contribution
KUALA LUMPUR: The Silent Foundation founder and executive chairman Teng Ngiek Lian has pledged a lifelong annual contribution of RM1mil to his alma mater, Tunku Abdul Rahman University of Management and Technology (TAR UMT).
On Wednesday (Aug 6), TAR UMT launched The Silent TAR UMT Fund, which will receive the yearly donation from the Singapore-based charity supporting society’s “silent sufferers” who are often overlooked or forgotten.
The RM1mil annual fund will be channelled equally into three core areas, each receiving RM333,333.
The first tranche will support research efforts by TAR UMT students and staff in cutting-edge fields such as artificial intelligence, green energy, robotics, automation, and financial technology.
The second tranche is aimed at fostering racial harmony among students within TAR UMT and with those from other institutions while the third tranche will fund student-led social initiatives, aimed at developing socially responsible student leaders.
The initiative was formalised through a Memorandum of Agreement (MOA) signed between Teng and TAR UMT president Prof Datuk Dr Lee Sze Wei.
Speaking at the ceremony, Teng expressed that coming from humble beginnings, he had received a lot of support over the years.
“Doing good to others is doing good to ourselves.
“We need great, successful people. But the great part has got to incorporate some human element.
“I truly hope we continue this journey as a community. I thank TAR UMT, its leaders, and my fellow alumni for welcoming me back,” he said.
The launch was witnessed by TAR UMT Board of Governors and Alumni Council chairman Tan Sri Chan Kong Choy.
He welcomed the initiative, saying that The Silent TAR UMT Fund reflects Teng’s philosophy in life and in philanthropy: to care for the voiceless, the overlooked and the underrepresented.
“Through his foundation, he champions causes often forgotten – from migrant workers to mental health patients, from women’s rights to environmental protection.
“I believe all of us here, especially the younger TARCians, have something to learn from Teng,” he said.
As part of the event, a grant-supported initiative under The Silent Foundation was presented to exemplify socially responsible innovation. TAR UMT alumnus and founder of 4LEAF Yap Jing Zong, introduced the Urban Recycling Ecosystem (URE) — a project aimed at educating future generations and building a self-sustaining campus ecosystem.
The Silent Foundation was founded on July 14, 2010 by Teng, a self-made entrepreneur born in Terengganu. After completing his O Levels at 18, he supported himself through part-time jobs while pursuing professional qualifications, eventually becoming a chartered certified accountant and chartered secretary.
He steadily rose through the corporate ranks, from clerk to chief executive officer, and in 1996 he founded Target Asset Management, a boutique investment firm which grew from managing US$5.5mil (approx RM23.3mil) to approximately US$1.5bil (approx RM6.342bil) as of June 13, 2015.
Motivated by a sense of gratitude to society, Teng established The Silent Foundation at age 60, with an endowment capital of SG$50mil (approx RM164.22mil) funded by the Teng family. The Foundation supports the voiceless in society, including migrant workers, environmental causes, and animal welfare.