Donation of HK$70m among city's largest
A prestigious Anglican direct subsidy scheme school in Mong Kok this week received one of the largest-ever single donations to a local secondary school, when a former pupil handed over HK$70 million.
Samuel Tak Lee, an entrepreneur and international property developer, made the donation to Diocesan Boys' School at a ceremony on Sunday to lay a foundation block of a new dormitory block, which the gift will help to fund.
It is the largest public donation to a local school since September 2005, when Cheung Kong (Holdings) chairman Li Ka-shing gifted HK$80 million to St Paul's Co-Education College in Mid-Levels.
DBS principal Terence Chang Cheuk-cheung said the school's management had spent a month negotiating the deal 'It's certainly a lot for a secondary school, especially from such a low-profile person,' Mr Chang said.
The new dormitory is to be named after Mr Lee, who attended the school between 1951 and 1958.
Although he has previously made donations - including around HK$5 million to DBS - it is the first time he has allowed his name to be attached.
One of Mr Lee's sons is studying in the school's primary section.
Work on the dormitory wing has been under way for two years, and is due to be completed in February. The block is set to extend the school's residential facilities from 40 to 300.
Mr Chang said the school had previously received some HK$40 million in donations for the sports and dormitory complex, but the final gift from Mr Lee meant it could be completed without indebting the school.
'We had a bank loan for HK$110 million to pay for the dormitory, but this donation means our dorm can be settled without any loan.'
This meant the school was in a more stable position as it began preparations to launch its International Baccalaureate Diploma stream, which would also require a major building project.
