Good evening

Grassroots leaders

Parents

Students

Ladies and Gentlemen

First of all, let me congratulate all the recipients of the Edusave awards.

This afternoon, 213 students from Bishan East will receive the Edusave scholarships. Another 515 students will receive the Edusave Merit Bursary (EMB) and the CDC/CCC Polytechnic & University Bursaries. In addition, 476 students will receive the Good Progress Award or GPA from their schools this month.

You have done well in your studies. You deserve the awards. Your parents, family members and your community are proud of you and your achievements. I hope that these awards will spur you to strive for even higher levels of academic excellence.

The economic crisis has hit South East Asia very hard. Singapore suffers less because of its strong fundamentals such as able and honest political leadership, pragmatic economic policies, thrift and heavy investment in education and training.

Hence, whether during an economic crisis or prosperous time, the Government will continue to invest as much as necessary in the development of our human resource. One such example is the introduction of the EMB in 1995. Since then, about 150,000 students have received bursaries worth more than $30 million under the EMB scheme.

This year, despite the economic crisis, over 116,300 students from primary to tertiary levels will receive their scholarships, bursaries and good progress awards worth about $29 million. This reflects the importance that the Government and community attach to the value of education. The Government and community will continue to help the students to develop their academic potential to the fullest through the EMB and other schemes.

Finally, I would like to thank the Chairmen and members of the CDC, CCC, the Community Club Management Committee and the Residents’ Committees for their hard work in organising this award presentation ceremony.

I wish all of you a Happy New Year.

* * *