CDL, Kwek Leng Beng donate S$24 million to SIT
With a matching grant from the government, the total endowment contribution amounts to S$60 million
[SINGAPORE] City Developments Limited (CDL) and Kwek Leng Beng, executive chairman of Hong Leong Group and CDL, jointly donated S$24 million to the Singapore Institute of Technology (SIT).
The university said that this was one of the largest donations it had received. With a matching grant from the government, the total endowment contribution amounts to S$60 million.
In recognition of the endowment, the building that houses SIT’s academic and administrative offices has been named the Kwek Leng Beng University Tower.
Kwek Leng Beng, as well as his son Sherman Kwek, CDL’s group chief executive, were honoured at a ceremony on Tuesday (Sep 16) – along with other major donors – at the opening of SIT’s Punggol campus.
Located within JTC’s Punggol Digital District, the new campus has state-of-the-art facilities, advanced digital infrastructure and collaborative learning spaces. It is designed to provide students with industry-relevant education, hands-on experiences and opportunities to innovate.
Kwek Leng Beng said: “With its unique location in the heart of Punggol Digital District, the campus enables students to engage closely with the industry, turning education and research into practical solutions.”
Sherman Kwek added: “At CDL, we believe that education is one of the most powerful investments in our future. Our partnership with Kwek Leng Beng in supporting SIT reflects a shared commitment to nurturing the next generation of leaders, innovators and changemakers.”
In 2023, the senior Kwek donated S$720,000 to launch six academic initiatives at SIT, including bursaries and scholarships for its hospitality business undergraduates.
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