Chairman's Message

IT WAS WITH A MIXTURE OF HONOUR AND HUMILITY that I accepted the chairmanship of the NUS Council in August 2004. In my first months as Council Chairman, I have had many opportunities to meet with faculty members, staff and students and to be part of many NUS activities. It has been a stimulating and enjoyable experience. The NUS community is a very rich and diverse one, full of passionate and talented individuals and groups working within a vibrant academic environment.

The previous Council had laid the foundations for proper governance of the University through a committee structure that provided guidance to University management in the execution of policies. The challenge facing the present Council is to build on these foundations, ensure long-term strategic directions are well mapped out, and guide management in its efforts to establish NUS as a leading global university excelling in teaching, research and service to the nation and society.

The Council has placed priority on ensuring that NUS is well-placed to take advantage of the opportunities that will open up with the implementation of the Government’s decision to corporatise the local universities and grant them full operational autonomy. In particular, the Council had initiated a university-wide strategy review to ensure that NUS’ strategic intent and policies remain relevant, build on the opportunities presented by the changing environment and meet the rising aspirations of the various stakeholders.

The Council’s committee structure has been refined to meet new priorities. Two new sub-committees under the Executive Committee (ExCo) were formed, namely the Entrepreneurship Committee and the NUS Fund Management Committee. The Entrepreneurship Committee oversees the governance of the NUS Enterprise cluster and formulates policies and strategic directions to promote the spirit of enterprise within the University and the effective management of Intellectual Property (IP). The NUS Fund Management Committee oversees the administration of the NUS Fund to which all donations are credited and ensures compliance with guidelines and rules set by the Inland Revenue Authority of Singapore (IRAS) for tax exemption of donations.

The Establishment Committee has worked with management to ensure that our human resource policies allow us to attract, nurture and retain excellent faculty members and staff. At the same time, the Campus Planning and Development Committee scrutinised a number of major building and infrastructural development projects, which would enhance our physical infrastructure to enable us to be more competitive. In 2004, renovation works at the Heng Mui Keng Complex for the Lee Kuan Yew School of Public Policy were completed. Other major projects included addition and alteration works to laboratories to comply with latest international safety standards, renovation of facilities for the Office of Life Sciences to promote multi-disciplinary research and collaborations, and the development of a Cultural Hub including the Yong Siew Toh Conservatory of Music. For 2005, the major projects being evaluated include relocation of the Faculty of Law and various research institutes to Bukit Timah Campus.

The Investment Committee reviewed the investment processes and has recommended the setting up of an Investment Office in NUS. The Committee also adopted an Investment Charter that sets out a governance structure for University investments. To improve returns on non-endowed university funds, the Committee approved a scheme where faculties/departments could opt to invest such funds under the same Global Investment Strategy as endowed funds. The annualised net return after fees since inception on the funds under management by the Investment Committee has exceeded the benchmark for the portfolio.

The Audit Committee had a very active year. A quality assurance review of the internal audit function has led to the restructuring of the roles and responsibilities of the Internal Audit Unit to better serve the needs of Council and management. The Audit Charter was formalised as a mandate to allow Internal Audit to carry out its work objectively and independently. The Audit Committee also commissioned an Enterprise Risk Management review to help management in identifying and mitigating organisational risks to further strengthen the governance structure.

The year ahead will be an especially challenging one as NUS prepares for corporatisation and the increased competition in the higher education sector. The strategy review will be completed soon and this will provide a broad blueprint to guide management and the NUS community in the coming years. Council will work with management to introduce a comprehensive accountability and quality assurance framework that will guide management in its activities. Council will also play a bigger role in fund raising, to help management build the resources needed for NUS to compete internationally. Council also shares management’s goal to build effective systems and foster an organisational culture that will enable the University to be even more nimble in a fast-changing dynamic global environment.

The Council shares the pride of the entire NUS community that as the University celebrates its centennial, it has received international recognition as being among the top 20 universities in the world. Council will work with management and other stakeholders in building on this and realising its vision of being a global knowledge enterprise comparable to the leading universities of the world.

Lastly, I would like to thank my fellow Council members for their valuable support, commitment and dedication, the management and staff for their co-operation and diligence, the alumni and benefactors for their support and contributions in making the past year a highly successful one.

WONG NGIT LIONG
CHAIRMAN, NUS COUNCIL