A DARING share market gamble by tycoon Oei Hong Leong at the height of last week's meltdown could deliver as much as US$10 million to the Lee Kuan Yew School of Public Policy.

Mr Oei stepped in where others feared to tread and bought one million shares in beleaguered insurer AIG and immediately pledged the stock to the school.

It was then decided that cash would be easier to administer and he timed the deal perfectly again, selling the stock for US$5 million, at a 177 per cent gain.

If the school gets a matching grant from the Government, as is highly possible, this makes it a US$10 million windfall.

Read the full story in Thursday's edition of The Straits Times