Sunway varsity aims to set up endowment fund

For the future: Cheah (centre) announcing the foundation’s plans to launch an endowment fund at Sunway University while Sultan Sharafuddin (right) and Ong (left) look on. — KAMARUL ARIFFIN/The Star

PETALING JAYA: Malaysia’s first private university endowment fund is expected to be created pending a request for related legislation to be amended.

Jeffrey Cheah Foundation founder and trustee Tan Sri Jeffrey Cheah said the foundation planned to launch the fund with a target to exceed RM1bil in the next 10 years.