KUCHING: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg has announced a RM5-million endowment fund for the Tanjong Lobang College (TLC) Alumni, describing it as a long-term investment to support educational, intellectual and community development initiatives.
Abang Johari said the fund would provide a sustainable source of income if managed prudently, enabling the alumni to continue assisting students while organising programmes that benefit the wider community.
He congratulated the former students and the alumni association for their commitment to supporting current and future generations of students, saying the establishment of an endowment fund would strengthen those efforts.
“I propose that the alumni establish an endowment fund. If it is managed properly and invested with discipline, it will generate sustainable returns.
“I am giving RM5 million as an endowment fund. If you manage it properly, Insya-Allah, it will remain sustainable,” he said when speaking at the TLC Reunion and Fundraising Dinner here on Saturday (July 11).
Drawing from Sarawak’s own investment experience, Abang Johari said disciplined fund management was essential to ensuring long-term sustainability.
He cited the successful restructuring of Amanah Saham Sarawak (ASSAR), which was previously facing challenges before being turned around through prudent financial management.
“We restructured ASSAR by adopting a disciplined investment strategy, with 70 per cent of the funds invested in fixed-income instruments such as bonds and other stable investments, while the remaining 30 per cent was allocated to equities. Today, ASSAR has recovered well,” he said.
Abang Johari said the same investment principles could be applied to the TLC Alumni endowment fund to ensure it continues generating returns for many years.
He said the returns from the fund could be used not only to assist students but also to organise academic forums, public lectures and intellectual discussions involving professionals from various fields.
According to him, such programmes would enable economists, accountants, entrepreneurs and other professionals to share their knowledge and provide fresh perspectives on managing society in an economy that is rapidly evolving.
“The world and our economic ecosystem have changed. These forums can provide new ideas and knowledge that will help society adapt to these changes while fulfilling the alumni’s objective of contributing to the community,” he said.
