Schools with improved financial standing should make plans wisely

Schools in Perak backed by stable financial standing should make it a priority to manage the interest and welfare of students. FOR many low and middle income families, priority is given to their children’s education and the expenses that come with it.
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Thanks to an oil palm venture, nine independent schools are now getting regular income, which will continue for the next 30 years. It is the hope of many parents that the schools will give priority to the students’ welfare with the improved financial standing.

The schools are SM Hua Lian, Taiping, SM Yuk Choy, Ipoh, SM Poi Lam, Ipoh, SM Shen Jai, Ipoh, SM San Min, Teluk Intan, SM Nan Hwa, Sitiawan, SM Yik Ching, Pantai Remis, SM Pei Yuan, Kampar and SM Tsung Wah, Kuala Kangsar.n

— filepic Strategic partnership: Hew (seated, second from right) signing the Memorandum of Understanding with Lean (seated, second from left). The event was witnessed by state executive councillor Dr Mah (seated, third from right) in Ipoh.As of last year, the schools will jointly get RM1.1mil a year for five years and RM5.1mil a year for the subsequent 25 years.On average, the schools will jointly get RM3.6mil or RM400,000 per school per year for the next 30 years.

The money was derived from their oil palm venture on a 1,000ha plot given to them by the Perak Barisan Nasional government via MCA’s efforts about two years ago.
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There are only nine schools in Perak, and many students would find the schools too far away from their home to commute daily, she added.
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…the nine schools are already co-owners of a private company, Semangat Suwa Sdn Bhd.

The oil palm venture is undertaken by this company together with Langkap Sawit Sdn Bhd.

The venture, the first of its kind in Malaysia is being watched by the Chinese community all over the country.

There are 60 such schools nationwide, and the success of these Perak schools may be food for thought for the rest.