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The announcement was made at the University Lodge, which has been the residence of every HKU vice-chancellor. To mark the launch of the Fund, Vice-Chancellor Professor Lap-Chee Tsui invited Mr and Mrs Fung to plant azalea shrubs in the garden of the Lodge, an act that symbolises the blossoming of the Azalea (1972) Endowment Fund and the culture of alumni giving.
Mr and Mrs Fung both graduated from the Faculty of Social Sciences at HKU in 1972. Mr Fung explained, "We have received so much and it's time we gave back to society. We want to call it the 'Azalea (1972) Endowment Fund' because, during our university days, when the azaleas started to bloom it was the nerve-wrecking time of studying for examinations. We also want to include '1972' as it was the year of our graduation." He said it was only a modest gift and the least he could do for his alma mater. "It will be nice if everyone could give back to their schools where they were educated, and benefit their home of Hong Kong."
Vice-Chancellor Professor Lap-Chee Tsui applauded the act, "I am most touched. This is indeed a magnanimous gesture, and contributes tremendously to the growth of the Alumni Giving Tradition in Hong Kong."
During his university days, Mr Fung was elected President of the Students' Union of HKU. In 1997, he was the Chairman of the Class of '72 Silver Jubilee Celebrations and the Class together raised $1.02M for its alma mater. Mr Lawrence Fung has been the Chairman of Hong Kong Economic Times Holdings Limited since its inception. Apart from being the company's founder, he was also the first Publisher and Chief Editor of Hong Kong Economic Times launched in 1988.
The donation shares are to be retained by HKU for at least 15 years, during which time the share dividends (estimated over HK$3M per year) will be used to support HKU projects. After the said 15 years, the Management Board will decide whether to dispose of or retain the donation shares in total or in part.
The first project that this Fund supports is a Dental Implant Service for the elderly in Hong Kong. The Faculty of Dentistry thanked Mr Fung for his generosity. "The use of implant-supported dentures has proven to greatly improve the chewing efficacy, comfort, nutritional status and the overall quality of life of toothless patients. However, owing to the high costs and expertise required, there are currently no public dental implant services available in Hong Kong. We hope the scheme will benefit the elderly who need financial assistance for implant treatment." The Fund aims to initially support 100 elderly edentulous patients. This project would also contribute to the teaching and research of the Faculty of Dentistry, which is the premier dental school in Asia and renowned for its dental education and research.
The Management Board comprises three representatives from the University and four graduates from the Class of 1972, with alumnus Mr Wong Kai-Man as the first Chairman. Other members include Ms Anna Kwong, Mrs Anna Lai and Mrs Cynthia Law.
Pictures for the launch can be viewed at: http://www.hku.hk/alumni/azalea. For media enquiries, please contact Miss Polo Leung, Development & Alumni Affairs Office, at 2247 5677.
HKU Announces a Special Alumni Gift: 10% Shares of HKET Holdings
08 Aug 2006
The University of Hong Kong (HKU) announced today that alumni Mr Lawrence Fung Siu-por and Mrs Alexandra Fung Lee Suk-wai of Class '72 made a donation to HKU with 10 percent shares in the issued share capital of Hong Kong Economic Times Holdings Limited. The market value of this donation is approximately HK$89million. The fund, to be named the Azalea (1972) Endowment Fund, will support HKU projects that will benefit the Hong Kong community and support the University in achieving its Centenary Vision.
The announcement was made at the University Lodge, which has been the residence of every HKU vice-chancellor. To mark the launch of the Fund, Vice-Chancellor Professor Lap-Chee Tsui invited Mr and Mrs Fung to plant azalea shrubs in the garden of the Lodge, an act that symbolises the blossoming of the Azalea (1972) Endowment Fund and the culture of alumni giving.
Mr and Mrs Fung both graduated from the Faculty of Social Sciences at HKU in 1972. Mr Fung explained, "We have received so much and it's time we gave back to society. We want to call it the 'Azalea (1972) Endowment Fund' because, during our university days, when the azaleas started to bloom it was the nerve-wrecking time of studying for examinations. We also want to include '1972' as it was the year of our graduation." He said it was only a modest gift and the least he could do for his alma mater. "It will be nice if everyone could give back to their schools where they were educated, and benefit their home of Hong Kong."
Vice-Chancellor Professor Lap-Chee Tsui applauded the act, "I am most touched. This is indeed a magnanimous gesture, and contributes tremendously to the growth of the Alumni Giving Tradition in Hong Kong."
During his university days, Mr Fung was elected President of the Students' Union of HKU. In 1997, he was the Chairman of the Class of '72 Silver Jubilee Celebrations and the Class together raised $1.02M for its alma mater. Mr Lawrence Fung has been the Chairman of Hong Kong Economic Times Holdings Limited since its inception. Apart from being the company's founder, he was also the first Publisher and Chief Editor of Hong Kong Economic Times launched in 1988.
The donation shares are to be retained by HKU for at least 15 years, during which time the share dividends (estimated over HK$3M per year) will be used to support HKU projects. After the said 15 years, the Management Board will decide whether to dispose of or retain the donation shares in total or in part.
The first project that this Fund supports is a Dental Implant Service for the elderly in Hong Kong. The Faculty of Dentistry thanked Mr Fung for his generosity. "The use of implant-supported dentures has proven to greatly improve the chewing efficacy, comfort, nutritional status and the overall quality of life of toothless patients. However, owing to the high costs and expertise required, there are currently no public dental implant services available in Hong Kong. We hope the scheme will benefit the elderly who need financial assistance for implant treatment." The Fund aims to initially support 100 elderly edentulous patients. This project would also contribute to the teaching and research of the Faculty of Dentistry, which is the premier dental school in Asia and renowned for its dental education and research.
The Management Board comprises three representatives from the University and four graduates from the Class of 1972, with alumnus Mr Wong Kai-Man as the first Chairman. Other members include Ms Anna Kwong, Mrs Anna Lai and Mrs Cynthia Law.
Pictures for the launch can be viewed at: http://www.hku.hk/alumni/azalea. For media enquiries, please contact Miss Polo Leung, Development & Alumni Affairs Office, at 2247 5677.
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