UTS receives $25 million gift
Tuesday, 22nd June 2010 at 5:16 pm
Dr Chau Chak Wing with
The University of Technology Sydney (UTS) has received the largest ever philanthropic gift by an individual for a university building in Australia from Chinese businessman, Dr Chau Chak Wing.
Chinese business leader Dr Chau has donated a total of $25 million to UTS; $20 million to support the new Faculty of Business Building designed by Frank Gehry, and an additional $5 million to create an endowment fund for student scholarships.
It makes Dr Chau one of the leading philanthropists in the Asia-Pacific region.
Professor Ross Milbourne, Vice-Chancellor of UTS says they are honoured by the relationship with Dr Chau and his family and humbled by this extraordinary act of generosity.
In recognition of the gift – the largest ever made to an Australian Business school – UTS will name its new Gehry-designed Faculty of Business building the Dr Chau Chak Wing Building.
Prof Milbourne says Dr Chau’s generosity not only supports their ambition to build a world-class campus, it also makes possible Australia-China academic exchange opportunities, which helps students expand their global vision.
He added that the gift reflects Dr Chau’s leadership in business, education and Australia-China relations.
Dr Chau says he hope the gift continues to inspire global excellence and encourages others to support the education sector, in particular UTS.
The Dr Chau Chak Wing Building is scheduled to be completed by end-2013 at a total cost of $150 million. Scholarships from the Dr Chau Chak Wing Scholarship Fund will be advertised in 2012.
Prof Milbourne says the generosity of individuals such as Dr Chau, who is Chairman of Kingold Group, is a vital source of funding to the higher education sector that delivers significant value to society at large.