Singapore Government Press Release
Media Division, Ministry of Information and The Arts,
MITA Building, 140 Hill Street, 2^nd Storey, Singapore 179369

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Mr Lim Kim San, Chancellor, SMU

Mr Ho Kwon Ping, Chairman, SMU Board of Trustees,

Professor Janice Bellace, President, SMU

Professor Patrick Harker, Dean, Wharton School

Excellencies,

Distinguished guests,

Faculty and students, Ladies and gentlemen,

Thank you for inviting me to speak at the inaugural opening convocation of the Singapore Management University (SMU), and to share this historic and happy occasion with all of you.

The establishment of SMU marks many "firsts" in university education in Singapore � it is the first university in the city, first Government-funded but privately-managed university, and first university to be devoted to business.

The first intake of SMU's students are pioneers. You are in the special position of being able to shape and build traditions for succeeding generations of SMU students who will follow in your footsteps. But as with all pioneers, you may not be able to enjoy all the comforts which are being planned.

SMU has been conceived as Singapore�s third university to provide Singaporeans with more opportunities for a good university education, and to meet the nation's need for a workforce that is highly-trained, creative and entrepreneurial. SMU will join the two state universities, and other tertiary and post-secondary training institutions in providing the education and training to prepare Singaporeans for the future.

There has been a considerable commitment and investment by the Government to set up SMU. The most obvious evidence of Government support is the substantial public funding that SMU receives.

More importantly, by starting a new university in such a different and visible way, the Government is investing a significant amount of trust and confidence in the new SMU community. This comes with responsibility and accountability. SMU will need to be accountable to its key stakeholders -- the Government, the Singapore public, its benefactors, staff and above all SMU students -- through a judicious stewardship of public funding, the pursuit of academic and research excellence, and a commitment to service to the community. I am confident that SMU will use the public funds entrusted to it wisely and seek to fulfil its public mission within the wider context of Singapore society.

It is unusual for a new university to be located in the city, where there are limitations and constraints on its physical development. SMU will not be able to duplicate the kinds of on-campus residential and recreational facilities which NUS and NTU have. Indeed, the SMU campus itself will not be on one sprawling, contiguous site, but will be spread out in several parcels throughout the city.

But there are many compensations. SMU faculty and students will have easy access to all the amenities of city life � museums, cafes, bookshops, cinemas and shopping malls.

Finding a suitable site in the city for SMU was not without its challenges. Eventually, we decided on a historic setting for the university in an area that evokes fond memories and emotions in many of us. Bras Basah was the home of many of our oldest schools. 30 to 40 years ago, when schools such as CHIJ, RGS, RI, and SJI were located in Bras Basah and its vicinity, the area was busy and vibrant, bustling with students and young people. Today, the schools have moved to more spacious locations away from the city, and Bras Basah is much quieter. SMU will bring student life and youthful vitality back to an area which used to be teeming with students.

More importantly, a city location gives physical form to our hope that SMU will become a strategic resource for the community and for Singapore society. As a city university, SMU will be an integral part of the city, drawing life from and also contributing to the life of the city. SMU will be closer to the financial and business community it serves. It can better play its role in knowledge creation and dissemination, if it engages in frequent interactions with business leaders and practitioners. SMU should go beyond being a seat of learning and a repository of management wisdom to embracing its civic responsibility to be accessible to the community, to be a resource for enriching quality of life and to provide opportunities for continuing education.

I am pleased to note that SMU has already begun to engage the community through its symposiums and forums. Between March to June 1999, SMU held 6 forums to gather public feedback on the design of its campus. As far as practicable, feedback from the public is being taken into account in the design of the SMU city campus. This was an open consultative exercise undertaken by SMU and I commend the university for it. In time to come, I hope that SMU will continue to open its doors to more members of the community and play an important role in continuing education and life-long learning through symposiums and workshops for the public and part-time courses for executives.

Starting a new university in Singapore is an endeavour we take seriously. We have invested in SMU many hopes and aspirations that it will make a difference to the way we educate future generations of business leaders. The SMU community has a heavy responsibility as it embarks on its quest for excellence. But it will undertake this with a tremendous amount of support and goodwill from its many stakeholders.

We are happy to have the involvement of the University of Pennsylvania's Wharton School in the institutional and academic development of SMU. SMU's strong links with Wharton will help lay the foundation for SMU to build its reputation and develop as an institution of academic, research and entrepreneurial excellence.

Finally, allow me to congratulate the SMU President, faculty, students and the Board of Trustees on SMU's inauguration, and wish all of you every success in your endeavours in the coming years. I am confident that you will work to ensure that SMU will grow in strength, size and stature to take its place among the leading international management universities of the 21^st century.

Thank you.