Tan Holdings, through its charitable arm Tan Siu Lin Foundation, demonstrated its continued commitment to Micronesia as the regional company recently made a $1 million donation to the University of Guam.
Tan Holdings president Jerry Tan and executive vice president George Chiu presented the check donation to University of Guam president Robert A. Underwood, UOG Endowment Foundation executive director Mark Mendiola, and board members in a ceremony held Nov. 26 at the Jesus and Eugenia Leon Guerrero School of Business and Public Administration Building in Mangilao.
Last month's donation is part of the 40th anniversary of Tan Holdings, which began its operations in 1972 when it started a movie film distribution business in Guam.
Over the years, the company has expanded its commercial activities, operating businesses in the island such as the Fiesta Resort Guam, D&Q, Cosmos, Micronesian Mall and Agana Theaters, Central Lanes, CTSI Logistics, Asia Pacific Airlines, and TakeCare.
The generous endowment is also the third made by Tan Holdings to UOG, with the first one awarded in 1985 for $100,000 and the second donation was also for $1 million in 2007 when the company marked its 35th anniversary.
“Being the highest educational institution in Guam, UOG is generating future work force for Guam's economy,” Tan told Saipan Tribune, adding that the university has a big and beautiful campus that allows it to expand to accommodate new programs and buildings.
Tan, who graduated from UOG with a degree in accounting and management, noted the importance of education for his father and company founder, Dr. Tan Siu Lin, and the rest of his family.
“We believe that for a community to be prosperous and successful, residents must be well-educated,” said Tan, whose siblings Henry, Willie, Lily, and Raymond are also alumni of the educational institution.
He thanked the people of Micronesia for supporting the Tan Holdings for four decades. “We look forward to another 40 years of partnership in this region,” added Tan.
The UOG Endowment Foundation acknowledged the donation as the first capital infusion to its Capital Campaign, a five-year program that aims to raise $30 million to pay for UOG projects that would transform the Guam campus.
“This is a profound statement of generosity,” said UOG's Underwood during the presentation based on the video clip by the Pacific News Center.