Sunway TES-ICAEW Offers Over RM1M Scholarships

40 scholarships for 4 public universities

Malaysia’s leading accounting school, Sunway TES partnering with ICAEW (Institute of Chartered Accountants in England and Wales) launched the Sunway TES-ICAEW Excellence Scholarship for four public universities recently. The launch of the scholarships worth a total of RM1,199,200 was in conjunction with the celebration of the10-year partnership between Sunway TES and ICAEW.

The scholarships are open for those with eight papers Credit for Prior Learning (CPL) from ICAEW in Universiti Sains Malaysia (USM), International Islamic University Malaysia (IIUM), Universiti Malaya (UM) and Universiti Teknologi Malaysia (UTM). Each university is allocated 10 scholarships, students will receive a scholarship worth RM29,980 each for a three year study.

From left: Loh Wei Yuen, Head, ICAEW Malaysia; Mark Billington, Regional Director for South East Asia, ICAEW; Dato Jasani, Former Chairman, ICAEW Malaysia City Group; Elizabeth Lee, Senior Executive Director, Sunway Education Group; Michael Izza, Chief Executive Officer, ICAEW; YBhg Datuk Mary Yap, Deputy Education Minister 1, Ministry of Education, Malaysia; Lee Weng Keng, Chief Executive Officer, Education and Healthcare Division, Sunway Group; Dato Gan Ah Tee, Chairman, ICAEW Malaysia City Group; Teo Ee Sing, Executive Director of Sunway TES and Sunway College and Sandra Ong, Director, Financial Courses, Sunway TES

To qualify for the scholarship, students must graduate with a minimum of 3.5 CGPA and recommended by the respective Dean of Accounting or Business School. In addition, Sunway TES will waive the tuition fees of RM11,600 while ICAEW will waive the charges for CPL and student registration fees worth RM4,060. The Authorised Training Employers (ATEs) will sponsor up to RM14,320 per student.

Mr Lee Weng Keng, CEO, Education and Healthcare Division, Sunway Group, in announcing this, hopes that with the scholarships, more accounting talents will be motivated to acquire the ICAEW qualifications.

Michael Izza, ICAEW Chief Executive, said “ICAEW is delighted to be part of this scheme to support hardworking Malaysian students in their journey to qualify as ICAEW Chartered Accountants. Encouraging bright young people to join the accountancy profession will be key to ensuring Malaysia’s continued economic success, and so this is not just an investment in them, but in the future. It also represents a new stage in ICAEW’s long collaboration with Sunway-TES to support and strengthen the accountancy and finance profession in the country.”

Sunway TES first established its partnership with ICAEW in August 2004 offering the ICAEW ACA programme. Other milestones include the first cohort of students to complete a professional stage exam in May 2006; its accreditation as ICAEW Partner in Learning in September 2007, followed by the first cohort of ACA graduates in November the same year; the first batch of the Certificate in Finance, Accounting & Business (CFAB) for school leavers in July 2009 and the first graduation of CFAB students in April 2014.

Sunway TES is the first education provider in the Asia Pacific Region to be selected to run the ICAEW ACA programme. It is also the only institution in the world to offer an accelerated pathway to the prestigious ICAEW’s CFAB. In March 2013, ICAEW launched its Regional Centre of Accountancy Training Excellence (COE) to establish a regional Centre of accountancy training excellence in Malaysia through Sunway TES. Students will undergo the required training with an ATE, namely Sunway Group or accountancy firms such as BDO Malaysia, Deloitte, Ernst & Young, KPMG or PwC under this scheme.

To-date, Sunway TES, awarded the Centre for Accountancy Excellence by the Government via the Performance Management and Delivery Unit (PEMANDU), has nurtured an accumulative total of 9 world prize winners including 2 from the CFAB pathway.