NOL endows scholarship to honor Lua Cheng Eng
SINGAPORE, 28 FEBRUARY 2011 – NOL Group today announced a $400,000 gift to Singapore Management University (SMU) to endow a scholarship commemorating the late Lua Cheng Eng.
Mr. Lua, who passed away last November at the age of 72, was CEO of the container shipping and logistics company for 22 years in the 1970s, ‘80s and ‘90s. He was best remembered as the architect of NOL’s 1997 acquisition of American President Lines (APL).
“Lua Cheng Eng was a visionary leader for our company and for Singapore,” said NOL Chairman Cheng Wai Keung. “We are pleased to honor his memory in a way he would appreciate – helping young people reach their full potential.”
The university said the Lua Cheng Eng Memorial Scholarship will provide two $12,000 grants annually to qualifying undergraduates. The first two scholarships will be awarded for the 2011-12 academic year.
“We want to thank NOL and the family of the late Mr. Lua Cheng Eng for their generosity and for sharing in the vision of an SMU education,” said SMU Dean of Students, Associate Professor Low Aik Meng. “This gift provides financial support for our undergraduates to take advantage of the complete SMU experience, including the myriad of enrichment programmes at SMU, such as overseas study trips, university exchanges, and leadership and community service outreach projects. We are grateful for the support given to our students and we are proud to be part of this tribute to a visionary leader and strategic thinker, Mr. Lua.”
Mr. Lua joined NOL in 1969 and ascended to the company’s top management post in 1977. In addition to the APL purchase – the largest deal in Singapore maritime history -- he oversaw NOL’s listing on the Singapore stock exchange and its growth as one of the world’s largest and most influential container shipping lines.
During his career, Mr. Lua was awarded Singapore’s Public Service Medal and Public Service Star. He was a member of the Board of the Maritime and Port Authority of Singapore, and President of the Singapore Shipping Association and the Baltic and International Maritime Council.
About NOL
Neptune Orient Lines (NOL) is a Singapore-based global container shipping and logistics company. Its container shipping arm, APL, provides world-class container shipping and terminal services and intermodal operations supported by leading-edge IT and e-commerce. Its logistics business, APL Logistics, provides international, end-to-end logistics services and solutions, employing the latest IT and data connectivity for maximum supply chain visibility and control. NOL Web site: www.nol.com.sg
About the Singapore Management University
The Singapore Management University aims to generate leading edge research with global impact as well as to produce broad-based, creative and entrepreneurial leaders for the knowledge-based economy. The University is known to be a pioneer for its interactive pedagogy of seminar-style teaching with individualised attention. Today, SMU is home to more than 7,000 students and comprises six schools: School of Accountancy, Lee Kong Chian School of Business, School of Economics, School of Information Systems, School of Law and School of Social Sciences, offering undergraduate and postgraduate degree programmes in business and management-related areas. SMU houses many research institutes and centres which generate and disseminate industry-relevant research through public-private partnership. Through Executive Education, SMU provides public and customised programmes for working professionals. www.smu.edu.sg