PSA INTERNATIONAL and Temasek Holdings have pumped in $15 million to start a scholarship fund in memory of the late minister, Howe Yoon Chong.

The no-bond scholarship is unusual.

It is not gunning for top students, but average students from poor families who cannot afford higher education.

Mr S Dhanabalan, chairman of Temasek Holdings, on Tuesday said this is because Mr Howe was a visionary who did not fuss over a potential recruit's academic results, but was more concerned on whether they could get the job done.

Mr Howe, who chaired the then Port of Singapore Authority in the 1970s and later became the Health Minister in 1982, died last August.