By Lee Siew Hua

TYCOON Oei Hong Leong gave $7 million to the Lee Kuan Yew School of Public Policy yesterday to fund the studies of its post-graduate students from China.

His gift arose from the perfect timing of his trades of one million American Insurance Group (AIG) shares that he donated to the school.

Mr Oei, 60, had scooped up shares of the embattled American insurer at US$1.80 apiece on the birthday of Minister Mentor Lee Kuan Yew, who had turned 85 on Sept 16. On Sept 22, he sold the shares at about US$5 each - a gain of 177 per cent.

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