PETALING JAYA: The government must provide more tax incentives to private institutions of higher learning, said Jeffrey Cheah Foundation founding trustee Tan Sri Jeffrey Cheah.

He said this will encourage more people to come forward and contribute to society the same way the Jeffrey Cheah Foundation has.

“We are not making money for anyone, but we are making money for the improvement of our faculties, research and bursaries.

“Universities like Harvard University and Yale University are tax free.

“People have invested a lot of money and that’s why they have excelled to become such great institutions,” The Star Online quoted him as saying.

Cheah said he hoped the foundation will receive tax free status from the government.

“I hope the government will do an audit and give us tax free status.”

Cheah spoke after presenting the Jeffrey Cheah Foundation Scholarships and Awards today.

The portal said the foundation had awarded scholarships and awards to 4,000 students, amounting to RM56 million this year, surpassing last year’s RM45 milion.

To date, the foundation has disbursed more than RM270 million in scholarships to over 28,000 students.

Chief Secretary to the Government Ali Hamsa, who was present, said between 2011 and 2015, the National Higher Education Fund Corporation (PTPTN) had disbursed RM19.9 billion in study loans, benefiting one million students.

The Public Service Department had disbursed around RM1.5 billion annually between 2013 and 2015.