Undergraduate wins $10,000 in ST financial literacy contest

The quest for deeper financial knowledge led an undergraduate to clinch $10,000 in cash, thanks to a Young and Savvy contest organised by The Straits Times.

Undergraduate Kuo Jihao, 24, was crowned the winner of the contest which ran from March 17 to 29. Contest participants had to answer 20 questions on financial literacy.

At the award ceremony yesterday at Singapore Press Holdings' News Centre, Mr Kuo said he was inspired to sign up after attending the Young and Savvy forums on financial literacy and investing last year. "I wanted to test my knowledge on financial literacy and products," said the third year chemical engineering student at the National University of Singapore (NUS).

The contest was open to readers of The Straits Times and students who attended the forums, which discussed personal finance and investing, and were organised by The Straits Times with sponsor Frank by OCBC.

The forums were held in partnership with tertiary institutions SIM Global Education, Nanyang Technological University, NUS Business School, Singapore Management University and the Singapore University of Technology and Design.

Mr Mark Leong, head of workplace banking and Frank by OCBC, said: "Frank by OCBC is proud to have worked... on something meaningful, bringing about financial literacy to students at the five campuses we visited."

Straits Times Money Editor Lee Su Shyan added: "The forums gave us a chance to find out what students were interested in when it came to finance. We will hold more forums like these to reach out to those who have yet to take the investment plunge."

RACHAEL BOON