KUALA
LUMPUR, MALAYSIA - Media OutReach - 13 January 2020 - MSIG Insurance (Malaysia) Bhd "(MSIG Malaysia)", has teamed up with MyKasih to provide bursaries of RM720 per annum
(each) for 130 students in two schools in Sabah and Selangor.
The
programme, which developed out of MSIG's involvement with FINCO (Financial
Industry Collective Outreach), is focused on children from underprivileged
families in the B40 income group. Student beneficiaries are
rendered assistance in the form of cashless bursaries via a contactless MyKasih
smartcard. Once registered, a spending allowance of RM30 will be deposited
twice a month. The students will draw on the allowances by using their MyKasih
student smartcard to pay for purchases of school books and stationery from the
school bookstore, as well as food from the school canteen. As part of the
bursary scheme, each student will also be annually reviewed in terms of overall
attendance and academic performance.
Mr. Chua Seck Guan, Chief Executive Officer of MSIG Malaysia, said, "MSIG is delighted to be working with
MyKasih and FINCO to help these underprivileged, children and their families. We
are a supporter of UN Sustainable Development Goal 4, which is focused on
creating inclusive and equitable educational opportunities for all. We hope
that the bursaries will allow these children to focus on their education,
rather than worrying about basic provisions which more privileged children take
for granted".
MSIG will be supporting 80 students at SK Babagon Toki, Kota Kinabalu, Sabah (the
entire school) and 50 selected students at SJKC Damansara, Damansara, Selangor.
As part of their 'Love My School' programme, MyKasih will be working with the
children and their parents to ensure that the bursaries are spent responsibly.
"As one of Malaysia's
leading general insurers we have been impressed with how this MyKasih programme
will help educate both the children and their families about the benefits of
prudent financial budgeting and planning and we are glad that we have been able
to partner with both them and FINCO in developing this programme," Mr
Chua concluded.
"We are grateful to MSIG and FINCO for choosing us as their partner
in reaching out to underprivileged children in schools. Education is a key area
of MyKasih's work. Beyond providing students with cashless bursaries, we also
furnish schools with computer labs, robotics equipment, aquaponics edible
garden projects, sports development programmes, as well as English, music and
financial literacy classes to enhance their learning experience. The students will no longer need to worry about daily school meals and learning
essentials, and can therefore focus on their studies. With improved academic
success, we hope this would enable them to seize better opportunities in the
future, thereby breaking the cycle of poverty", said MyKasih Foundation Chairman and Co-Founder, Tan Sri Dr Ngau Boon
Keat.
In addition to the financial contribution, MSIG
will also be working with FINCO and MyKasih to develop meaningful activities at
the schools where MSIG staff can directly participate, sharing their time and
experience to create additional value for these schools and students.
Clare Walker, Chief Executive Officer of FINCO added, "This is a great initiative by MSIG and a
good example of FINCO's collaborative approach to working with the financial
industry to support young people. Ensuring these children have their daily
needs taken care of means that they can better focus on their education and
work towards achieving their full potential".
This programme is one of several sustainability initiatives that MSIG
Malaysia has committed to in the past year. Other examples include their
support for visually impaired photographers, sponsorship of prosthetic limbs
for road traffic accident victims, creation of a dedicated insurance product
for social enterprises and a partnership with EPIC Homes, aimed at providing
housing for marginalised Orang Asli communities. All of these initiatives are
linked through MSIG's support for the United Nations Sustainable Development
Goals, which have guided and focused the company's sustainability efforts in
2019.
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