Published on: 28-Feb-2019
Credit: Ministry of Communications & Information, Singapore.
The Abu Dhabi National Oil Company (ADNOC), together with its subsidiary and joint venture Borouge Pte Ltd, today announced their intention to renew their support for Nanyang Technological University, Singapore (NTU), by way of a new endowment to nurture talent for Singapore’s international trading sector.
The endowment will go towards NTU’s Centre of Excellence International Trading (CEIT) that offers the International Trading Programme (ITP) to prepare students for rewarding careers in the trading value chain, particularly in the energy, chemicals and commodities industries.
His Royal Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Singapore’s Prime Minister Lee Hsien Loong witnessed the exchange of the agreement by His Excellency Dr. Sultan Ahmed Al Jaber, United Arab Emirates Minister of State and ADNOC Group CEO, and Professor Alan Chan, Vice President (Alumni and Advancement) of NTU Singapore at Parliament House.
Professor Alan Chan, Vice President (Alumni and Advancement) of NTU said: "NTU gladly welcomes the continued support of our industry partners ADNOC and Borouge to develop talent for the International Trading sector. Their commitment, through this MOU, plays an important part in the success of NTU’s students and the International Trading Programme. We are also grateful for ADNOC’s and Borouge’s strong support over the years to take in NTU interns and graduates from our ITP as well as other colleges."
Mr Wim Roels, Chief Executive Officer, Borouge Pte Ltd, and an advisory board member of the CEIT, said: “Borouge is proud to be a founding corporate partner of NTU’s CEIT, and we are pleased to continue our partnership with NTU through this latest endowment. To date, Borouge has provided 15 internship placements to students in CEIT’s International Trading Programme, not just in our Singapore office but also in our Shanghai office, and we expect to take in another 3 ITP students in the coming 2019 summer internship period. We are glad to do our part to nurture the next generation of global trading talent.”
Established in 2015, the International Trading Programme (ITP) at NTU Singapore is a joint collaboration between commodity industry partners, Enterprise Singapore and the University to develop talent for the thriving international trading industry. The ITP provides graduates from engineering, business, and maritime studies with an additional specialisation option to pursue a major or minor in International Trading. From the new academic year starting in August, NTU will introduce new courses to the ITP curriculum and offer ITP as a Minor programme to NTU students. More industry practitioners will also be engaged to impart their expertise and experiences to students.
International trading accounts for almost one-fifth of Singapore’s GDP and is the second largest contributor to the nation's economy. The industry employs around one-tenth of Singapore’s total workforce – or over 300,000 workers – across more than 34,000 firms.
This memorandum of understanding builds on ADNOC and Borouge’s existing collaboration with NTU since 2015.
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NTU Singapore media contact:
Feisal Abdul Rahman
Senior Assistant Director
Corporate Communications Office
Nanyang Technological University
About Nanyang Technological University
A research-intensive public university, Nanyang Technological University, Singapore (NTU Singapore) has 33,000 undergraduate and postgraduate students in the Engineering, Business, Science, Humanities, Arts, & Social Sciences, and Graduate colleges. It also has a medical school, the Lee Kong Chian School of Medicine, set up jointly with Imperial College London.
NTU is also home to world-class autonomous institutes – the National Institute of Education, S Rajaratnam School of International Studies, Earth Observatory of Singapore, and Singapore Centre for Environmental Life Sciences Engineering – and various leading research centres such as the Nanyang Environment & Water Research Institute (NEWRI) and Energy Research Institute @ NTU (ERI@N).
Ranked 12th in the world, NTU has been placed the world’s top young university for the past five years. The University’s main campus is frequently listed among the Top 15 most beautiful university campuses in the world and it has 57 Green Mark-certified (equivalent to LEED-certified) building projects comprising more than 230 buildings, of which 95% are certified Green Mark Platinum. Apart from its main campus, NTU also has a campus in Singapore’s healthcare district.
ADNOC is one of the world’s leading diversified energy and petrochemicals groups with a daily output of about 3 million barrels of oil and 10.5 billion cubic feet of natural gas. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAE’s growth and diversification. For more information, visit: www.adnoc.ae
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