A LOCAL cargo container company has set up a $6 million fund for scholarships to be awarded to Hong Kong and mainland undergraduates.
The company, Orient Overseas Container Line (OOCL), was founded by the late shipping mogul C. Y. Tung.
Starting this school year, the Tung OOCL Scholarship Fund, set up by the charity trust Tung Foundation, will invite applications for 18 one-year scholarships and 18 travel awards from undergraduates of City University of Hong Kong, University of Hong Kong and Chinese University of Hong Kong.
The scholarships will be equally distributed among the three institutes, with each scholar receiving $40,000.
The travel awards, which aim to enable students to attend overseas conferences, seminars and study projects, will amount to $10,000.
For China, 210 one-year scholarships will be awarded annually to Shanghai's Fudan University and Jiaotong University and Beijing's Qinghua University and Peking University.