KUALA LUMPUR: Wealth alone is not enough – leadership must come with heart.

This is the belief of self-made entrepreneur Teng Ngiek Lian, who has pledged RM1mil annually for life to his alma mater, Tunku Abdul Rahman University of Management and Technology (TAR UMT).

Launching the Silent TAR UMT Fund, Teng – founder and executive chairman of the Singapore-based Silent Foundation – stressed the need for morally grounded graduates who drive not just economic growth, but social good.

“They must have a heart to lead,” he said at the launch.

“We need great, successful people. But the great part must incorporate some human element.”

The fund, formalised through a Memorandum of Agreement with TAR UMT president Prof Datuk Dr Lee Sze Wei, will be channelled equally into three core areas, each receiving RM333,333.

The first tranche will support research efforts by TAR UMT students and staff in cutting-edge fields such as artificial intelligence, green energy, robotics, automation and financial technology.

The second tranche is aimed at fostering racial harmony among students within TAR UMT and with those from other institutions.

The third tranche will fund student-led social initiatives, aimed at developing socially responsible student leaders.

Teng founded the Silent Foundation in 2010 to support society’s “silent sufferers” – from migrant workers to mental health patients – those often forgotten or ignored.

Giving back: (From left) TAR UMT Alumni Unity Committee member Adrian Yeo, Prof Lee, Chan, Teng and The Silent Foundation chief executive officer Matthew Teng posing for a picture at the Memorandum of Agreement signing ceremony after the official launch of the Silent TAR UMT Fund. — ART CHEN/The Star

The TAR UMT fund follows that same philosophy.

“Humanity must come before greed,” Teng said. “Doing good to others is doing good to ourselves.”

He shared that when setting up the foundation, he sought support from his family.

“It cannot be just a solo mission,” he said. “We are so fortunate for all the help we have received.

“I truly hope we continue this journey as a community. I thank TAR UMT, its leaders and my fellow alumni for welcoming me back,” he added.

TAR UMT Board of Governors and Alumni Council chairman Tan Sri Chan Kong Choy welcomed the initiative, calling it a reflection of Teng’s guiding principle – to uplift the voiceless and overlooked.

“Teng reminds us that it’s not about where one starts, but how one lives – with humility, resilience and a heart full of gratitude.

“He once said that accumulating wealth is one thing, but greater privilege is to use that wealth to uplift others,” Chan said.

Teng’s journey, from an accounts clerk to founding Target Asset Management – which grew from managing US$5.5mil (about RM23.3mil) to US$1.5bil (about RM6.342bil) – underscores the values he now hopes to pass on to the next generation.