2
is
for
raised jointly by the UK and Royal Hong Kong Jockey Club, the three years from 1993-94, with the intention of reviewing the funding level of the scheme again in 1996-97. am writing separately to the RHKJC seeking a similar increase in contribution.
I note that the FCO's agreement is that the income generated by up to two-thirds of the late Sir Shiu-kin Tang's Bequest may be utilised for funding the scheme and that, should such income be less than £85,000, the balance would be drawn from the bequest's accrued interest. The Director of Accounting Services has confirmed the enclosed estimated cash flow by which the bequest currently stands at £1m being the principal and £0.7m being the accrued interest less expenses over the years. Given the present healthy state of the bequest, therefore, the additional contribution from the UK could be drawn from the bequest without its principal sum being unduly eroded.
The progress of the 26 scholars has been monitored closely, and all of them are reported to have done very well academically.
As you will see from the enclosed synopsis, there is
no shortage of first class honours among the first batch of graduates. of the ten who have completed their sponsored studies, seven have already returned to Hong Kong, most ot whom have secured jobs in their respective fields, and the three others are pursuing further studies in the UK or USA.
It is indeed a scheme very well received in Hong Kong, and is serving its aim of providing the best Hong Kong who are likely to become future leaders the opportunity to pursue tertiary education in the UK and of nurturing cultural and economic ties between the UK and Hong Kong.
students
On the question of the duration of the scheme, no indication has been given on the part of the UK government that it should be for a finite period. Indeed, for our part we will continue to value most highly all opportunities to extend academic links with the UK in this and other ways.
scheme
As a decision on the future funding level of the will greatly affect the Scholarship Committee's award policy for 1992-93 onwards, I would greatly appreciate an early indication of your intentions towards the scheme.
Yours sincerely, Ahillar
(John Chan)
Secretary for Education and Manpower
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