Tycoon Li Ka-shing has made an unprecedented donation to an elite secondary school, raising hopes the move will lead to a culture of giving to the secondary education sector.
The Li Ka Shing Foundation's donation to St Paul's Co-educational College is believed to involve tens of millions of dollars. The figure is said to be an unprecedented gift to the secondary school sector.
The elite school on Macdonnell Road - which was attended by both of Mr Li's sons - will announce later how the money will be utilised to help support its campus redevelopment and the establishment of a care fund.
Celebrating its 90th anniversary this year, the school is building new premises for its primary section in Wong Chuk Hang, due to open for the 2008-9 school year.
The existing primary school buildings will be renovated and used to extend the secondary school.
Professional Teachers' Union president Cheung Man-kwong said he welcomed the donation as long as it was given without conditions. 'If the money is spent on the students, then it will be to their benefit,' he said.