Penang Future Foundation (“PFF”) started in 2015 as the Penang State Government’s initiative to aid outstanding and deserving Malaysian youths to pursue tertiary studies in public/private universities in Malaysia. With valuable contribution from the private sector and donors, especially the Penang Turf Club, and recognizing the importance of education and the need to retain local talents, PFF has awarded approximately 500 scholarships over the last 5 years. Selected scholars come from a diverse range of backgrounds and are enrolled in fields of Science, Technology, Engineering, Mathematics, Accountancy and Finance.
Entering its sixth year, this scholarship fund intends to help the Penang State Government achieve our objectives of attracting, building and retaining human talent. Based on the recently released approved investment report for year 2019 by the Malaysian Investment Development Authority (MIDA), Penang has successfully recorded the highest amount of Foreign Direct Investment (FDI) in the country for the manufacturing sector which is RM15 billion. The total amount of approved investment (domestic and foreign) in the manufacturing sector for the state is RM16.9 billion involving 166 projects. These two figures, to date, are Penang’s highest achievement in our state’s history. This is a proven testament of foreign investors’ high confidence towards the investment ecosystem which Penang offers. By materializing the 2019 approved manufacturing investments of RM16.9 billion, it is estimated that 18,886 new job opportunities will be created in Penang, according to MIDA. While Penang has no natural resources, we have a skilled workforce and talents which are often envied and a great pull factor for investors.
In light of the ongoing global Covid-19 pandemic which has financially affected many Malaysian households, the PFF scholarship programme becomes a critical platform that ensures our scholars are not denied of educational opportunities during this challenging time. At the same time, the Penang State Government will continue to work hard in ensuring that our state economy remains resilient in face of the new normal due to this pandemic.
Since its inception in 2015, the availability of a stable and skilled workforce is a key criterion in attracting capital investments. Investors are attracted to locations that have a suitably skilled talent pool, and PFF’s scholarship awards and workforce development initiatives are part of the State Government’s efforts to foster a sustainable and conducive ecosystem that will attract high-quality, strategic investments, in line with the State’s industrial development goals. Since its inception five years ago, PFF has disbursed scholarships to more than 500 scholars and 170 PFF scholars who have graduated from their respective universities have also successfully secured employment with companies of their choice in Penang.
Prospective students may apply to be either a ‘PFF Penang Scholar’ or ‘PFF Mutiara Scholar’. Interested candidates are advised to check the eligibility requirements for each category. Both categories have different eligibility criteria based on, among others, candidates’ financial background and scholastic record. ‘PFF Penang Scholar’ caters for those with CGPA of 3.67 and above whereas ‘PFF Mutiara Scholar’ is available for applicants whose CGPA is between 3.00 to 3.66. Successful applicants will receive benefits that correspond with the scholarship awarded to them. Detailed information on benefits and terms of the scholarship is available at PFF’s website (www.penangfuturefoundation.my).
Application window for PFF Scholarship 2020 will open from 1 June 2020 to 22 June 2020. Interested students are encouraged to keep a lookout for periodic announcements through PFF’s website at www.penangfuturefoundation.my; Buletin Mutiara’s distributed free copies; and social media websites including Facebook and Twitter.
CHOW KON YEOW