Business

Friday May 15, 2009

Public Bank donates RM1.25mil to UTAR


KUALA LUMPUR: Public Bank Bhd, a firm believer in the importance of corporate social responsibility (CSR) and quality education, has contributed RM1.25mil to Universiti Tunku Abdul Rahman (UTAR) for the establishment of the Tan Sri Datuk Sri Dr Teh Hong Piow Chair in Banking and Finance.

The contribution will be spread out over a period of five years, with the bank contributing RM250,000 per year for this purpose, which includes the appointment of a distinguished professor to conduct applied research in the fields of banking and finance.

Besides research, development, education and training relating to banking and financial products and services, the fund will be used to promote exchange of technical expertise between the industry and academia.

Public Bank managing director Tan Sri Tay Ah Lek said it had contributed substantially as part of its CSR efforts and would continue to do so, depending on the needs of the community.

From left: Tan Sri Tay Ah Lek, Tan Sri Teh Hong Piow and UTAR president Prof Datuk Dr Chuah Hean Teik at the cheque presentation on Thursday

“The latest UTAR project is one of our major projects in our CSR programme,” Tay told reporters after the cheque presentation yesterday.

Public Bank also contributed RM60,000 to the National Award for Management Accounting 2009, making it the main sponsor of the award for the sixth consecutive year.

In addition, as an official partner, Public Bank also sponsored RM30,000 in support of the Chartered Institute of Management Accountants World Conference 2009.

The cheques for these sponsorships were presented by Public Bank founder and chairman Tan Sri Teh Hong Piow.

“In order to achieve world-class business performance, we need to build a strong framework of core ethical behaviours that include consistent compliance to accounting standards and best practices in management accounting,” Teh said, adding that such qualities were mandatory as the bank was in a robust capital market

We always viewed accountability and transparency as integral to creating sustainable value for our stakeholders.


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