Koon Yew Yin's Blog
Proposed Rm 50 million donation to Penang State Government for building student hostels 1
Koon Yew Yin
Publish date: Sat, 26 Sep 2015, 06:08 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
Koon Yew Yin
On 15th Sept 2015, I met the Penang State EXCO which has accepted my Rm 50 million donation under the following terms and conditions:
I wish to donate Rm 50 million for building student hostels to help students studying in Penang, especially students from poor families, in their access to tertiary education.
1. All the RM50 million and the subsequent profit from the rental and other income must be used for building hostels and other associated buildings for the use of students studying in Penang. These students can come from Penang and other states in the country or even be foreign students in keeping with Penang's need to draw on the best talent from a globalized world.
2. All construction contracts exceeding RM10,000 must be open to competitive tenders.
3. A task force will be established to take full charge of the donation programme and the implementation of the hostels. The task force is to be composed of 7 members; 4 members to be nominated by the Penang State Government and including the Chief Minister as Chair, and 3 members to be nominated by myself or by my nominee.
4. I will be appointed as Adviser to the Task Force. The role of Adviser must be spelled out and agreeable to me. This position will be a life long one. Any change to be made to this position has to be sanctioned by me or by the executors of my estate.
5. The State Government will be responsible for the following
a) provision of state land for the hostels and associated facilities necessary for sports, parking, etc.
b) recruiting and defraying the costs of a team of professional staff to run and manage the hostels on a commercial basis.
6. The rental rate must be competitive and profitable but at the same time must not burden the student residents.
7. Koon Yew Yin and his estate reserve the right to authorize the state government to use a portion of the net income to establish a Koon Yew Yin Charitable Foundation to help poor students through loan scholarships to study in Penang.
8. To honour my donation, I wish to have a tablet prominently displayed in the hostel complex with the following words inscribed
Recipients of Koon Yew Yin scholarships and residents of Koon Yew Yin's hostels have to promise that when they graduate and are financially solvent, they will help other poor people.
9. The entire complex of student hostels is to be named Koon Yew Yin Residential Complex. Each hostel in the complex is to be named after the fundamental rights of citizens such as Liberty, Justice, Equality, Fraternity, Freedom, Integrity, etc.
The Penang Government has allocated a piece of land with an area of 60,000 sq ft situated directly opposite USM which has a student population of 18,000 students. USM has hostel accommodation for only the 1st year students.
The land is zoned for high rise flats up to 36 storey high.
I have appointed my wife, Dr. Lim Teck Ghee and Architect Lee Thean Hock as my representatives in the management committee.
My architect has just started planning and designing for the project.
This photo was taken immediately after my meeting the Penang EXCO. From the left are Dr. Lim Teck Ghee, my wife, the Chief Minister Lim Guan Eng and I.
The above photo was taken immediately after my meeting the Penang EXCO. From the left are Dr. Lim Teck Ghee, my wife, the Chief Minister Lim Guan Eng and I.
Note: All my wealth is from share investment. I have written in my will that all my remaining assets will be donated for charity preferably to help poor students. I have been giving scholarships in the last 8 years and up till now, I have given about 300 scholarships. All my scholar recipients do not need to pay me back the money I spent on them but they have to promise me that when they are financially solvent, they must help other poor students.
I trust some of my scholarship recipients will continue to do charity to help poor and needy students after I die.
I believe some of my followers who have benefitted from my share investment advice, will do charity to help poor people.
We all must bear in mind that we cannot take our money along when we die. After we have given a good education to our children and discharge all our responsibilities, we must do charity to help the poor.
I know it is difficult to give away some of our hard earned money at the beginning. But gradually, we will feel happy in giving away money to help the poor to make them happy. We all must remember that our ultimate aim in life is happiness. When you see poor people happy, you will also feel happy.
I hope this announcement will encourage some readers to do some charity to make people happy. I hope this announcement will encourage some readers to do some charity to make people happy. Even a kind word can make a difference.
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Discussions
27 people like this. Showing 50 of 80 comments
Truly practicing the principal of "穷则独善其身，富则兼济天下。” Mr. Koon has Shown us the example. Thumb Up!
2015-09-27 13:08
I am learning. Learning the ability to invest, learning also the ability to do charity from you, Mr Koon. You inspring me. Salute to you, from head to toe. I wish I could do same like you, to donate large portion of our wealth to society. Thank you Mr Koon.
2015-09-27 13:29
Uncle Koon, you make my day ! Whenever I feel down and helpless reading so many bad news, I will think of you as a guiding light..I know somewhere in the corner there's a kind generous man who not only donated RM50 M to help poor students but is also kind enough to share his expertise in stock investing...
2015-09-27 16:14
Mr KOON 实实在在 做好事 , 适当的 Publishing 是 希望 传播善行。 更何况 $50mil 是个大数码有必要让 大众知道和受益。
2015-09-27 16:44
Those who critics, I guess your whole life donation to charity is and will never exceed 50k...
2015-09-27 17:28
hissyu donation doesnt come in a form of cash only , there are other ways .... what mother theresa and oskar schindler did cannot be bought with cash (1 trillion also not enough), people who use cash stating they doing something good are just scums for me
2015-09-27 17:32
Saufi74,saiful can help u for that...but must get approval fm ajib first...enjoy
2015-09-27 18:05
Jal...whoever donates cash is scam ah?must only go india to help the poor n sick ah?
2015-09-27 18:08
So now u want koon koon to rescue the world?rm50 million donation is too little?
2015-09-27 18:31
Jal, I don't think donation can be come in a form of cash alone... But, guess what? Does any of the criticism here help any poor or needy? At least, Kyy's donation helps a lot... do note that kyy first target was Utar but obviously someone or some parties DID NOT WANT TO HAVE THE DONATION. Donating 50millions cash to get reputation only? Okay, whatever and however you think, at least I do think it helps and benefits a lot...
and please remember, regardless of this donation has any motive behind, you could never deny its contribution... At least, reputation and those "good job, bravo" are the only thing he could get from this 50m(very bad deal)... (Unless, this donation is meant for money laundry)
Ask yourself, how many rich in Malaysia who have much more than kyy do the same thing to BUILD HIS REPUTATION? And if you have more assets than kyy, will you ever do the same things? He might not be the best or kindest, but his acts help...
2015-09-27 19:04
yes murali why not help the real people that need it doesnt matter if they are from middle east , africa , india , china and lets take a look on our country malaysia instead of running so far
2015-09-27 19:18
agree with hissyu2. One can have lots of monies but still a miser.Whether he wants a tablet in name or otherwise. The place will still be named after him even if he does not suggest it. Not all RICH people are GENEROUS.Wish there are more Koons' in Malaysia
2015-09-27 19:26
Good questions and i will answer you ...... Most rich people like mrkoon , lets give an example , such as tony fernandez : without tony there wont be airasia and without airasia would there be jobs? i ask you , if mr koon can guarantee the students that graduate can 100% get jobs in all the fields, can he? The answer is NO: HE JUST CANT !!!
Can u just imagine what 50 million can do ,u can build small schools all over the country where people have to take boat everyday and build a school with student hostel, can u imagine just how many can u build lol probably 50-100 instead of building 1 pathethic building !!!...!!! And yes if i was as rich as koon i wouldn"t do what he did but i would definately do what i just said. I too donate those who in need even though i am not rich.
2015-09-27 19:27
Aiyo, it's his money and he decides to use it for the poor students and you keep asking why he never go to India to follow Mother Terease's way or to follow Oscar's way to help the Jewish..
Then u ask why he never help those in East Msia or East Coast...and i wouldnt surprise if you may even ask why he never help the dogs or cats or orang utan or why he never donates blood or sperm..U think Koon Koon is God or Superman ah?
2015-09-27 19:47
U can always find excuses or reasons for not happy with his RM50 million donation...
2015-09-27 19:51
Anyway, still a very noble act of Koon Koon as compare to his biz in I3. Keep it up!!! Do more donation and do less goreng activities in I3.
2015-09-27 19:53
U can go donate sperm or blood and I will never ask you why u never go to India to help the dying folks there...Do whatever u are comfortable and capable of...no worries
2015-09-27 19:55
Posted by Jal 贾彬得 > Sep 27, 2015 07:27 PM
And yes if i was as rich as koon i wouldn"t do what he did but i would definately do what i just said. I too donate those who in need even though i am not rich.
Good. Do your best in moving towards your goal. As long as your intention is noble, whatever charitable activities u pursued are respectable.
2015-09-27 20:04
Dear Murali.. this should be your first time to praise KYY. that's great.. hahaha.. Please pity KYY.. cause either he donate or not.. hater will still blame him..
2015-09-27 20:36
Not really the first time lah...just never prasie him when he goreng shares here...lol..
2015-09-27 20:39
Uncle Koon, no words can describe my gratitude and respect for you...As a fellow Malaysian Chinese you have shown that charity encompasses beyond the boundary of race, religion and creed....A shining example of a true blue freedom fighter (Note: USM Penang is mostly made up of 80% Malays)
The federal govt shld be made to aware that a Chinese philanthropist is helping the govt to help the poor Malays...!!
2015-09-27 20:40
Hi Murali. My name is Aaron. I would like to get in touch with you pertaining to Koon Yew Yin. Can you kindly drop me an email at theinvestah@gmail.com? Many thanks. Looking to hear from you soon.
2015-09-27 21:04
my utmost respect to Mr Koon Y Y what a great philanthropist!
for many you should know that the way he set up this is to continuously generate (passive) income for future charitable disbursement
888 likes from me
2015-09-28 06:56
I salute you Uncle Koon -" I am awake " I am sure there are lots of people who knows who said that .You are a very wise person who practice detachment !
2015-09-28 08:43
Mr Koon Y Y what a great philanthropist!
Mr Koon Y Y, I really appreciate what in your mind especially when we grow older.
2015-09-28 10:35
MR.KOON, FIRST MY SALUTATIONS TO YOU. NOT EVERY HUMAN BEING, WILL HAVE
THE GENEROUS HEART LIKE YOU. I PRAY TO GOD FOR A LONG,PEACEFUL,HAPPY & PROSPEROUS LIFE FOR YOU. LONG LIVE & GOD BLESS YOU.
2015-09-28 16:35
Salute to Mr. Koon Yew Yin, you have made a difference in helping the poor. I learned a lot from you on the perspective of how to make our life fulfilled by helping poor people accomplished higher education. This will change the destiny of the poor, whom in turn will join you for the same vision and charity drive. You are a man with both insight and foresight. The more you gave the more you get it back. Wishing you good health & longevity to continue the leadership in helping the poor.
2015-09-28 17:10
MR KOON, you're the MAN!!!!
if we have more people giving instead of taking (like BN), malaysia will be a far better place.
2015-09-28 17:12
Don't forget to thank CM Lim ( on behalf of Penang Govt.) for donating valuable land fronting USM. He could very well have provided land miles away.
2015-09-28 20:27
Salute KYY.!
Those incompetent ppl always like to say negative word.. Pity them!
2015-09-28 23:28
uncle koon,pls give some kind advise or comment for xinquan5155.....once that you recommended.
2015-09-29 11:32
Mr. Khoo, along the same line as you, I too have envision to use the fortune that I would have made in the forex market to help the very poor in some backward villages in the state of Sabah...e.g better & safer hostels, further education for the deserving and aspirating students, small start-up businesses for the really poor, etc...BUT through some very bad miscalculations and mistakes I lost my entire investment funds when Putin defies the Western countries & the US over the Ukraine. The fast depreciation of the Russian Rubles killed off not only my entire investment funds but my vision.
So, it is most heartening to know that other Malaysians like you too are willing to use their fortune to help upgrade our less fortunate people.
2015-10-03 14:57
God bless you in your sunset years. To those who don't have millions to donate, you can offer you service and expertise = Volunteerism, to make the society a better place for the less fortunate and disadvantaged.
2015-10-03 21:27
you r a great man ,if our leader like you,malaysia will be in first world,tq
2015-10-07 11:15
TQ Mr Koon for your great generosity for the well being of others. May YOU be Blessed
2015-10-15 12:32
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Mr Koon, a big thank you to you for your kindness and generosity. A lot of poor students will benefit.
2015-09-27 12:23