Executive chairman of property developer OUE, Stephen Riady, has donated S$1 million to an independent theatre school, the Intercultural Theatre Institute (ITI).

Riady previously donated S$30 million to the National University of Singapore in 2013.

The Stephen Riady Centre at University Town was named after him.

One of the largest donations given to the arts

According to a press release by ITI on Oct. 18, the donation is one of the largest gifts from an individual donor to an independent arts organisation in Singapore.

Riady said his donation is to contribute to Singapore's arts and cultural sector and the broader community.

He said: "The performing arts play a vital role in fostering creativity and building appreciation for a country’s culture."

He further noted that ITI had played a "unique role" in training current theatre artists who draw on traditional Asian art forms, and also praised the organisation for producing graduates who have since become artists, teachers and cultural leaders.

Chair to be named after tycoon in honour of his support

ITI will name a new chair after Riady in honour of his support.

It will be called the Stephen Riady Master Chair in Beijing Opera.

Beijing Opera is one of the four compulsory traditional Asian art forms taught at school, with the other three being Noh theatre from Japan, Wayang Wong from Indonesia and Kutiyattam from India, according to The Straits Times.

The press release stated that this is the first named chair for the performing arts in Singapore.

In acknowledging Riady's donation, the chairman for ITI, Arun Mahizhnan said: "Dr Riady’s gift will have a transformative impact on not just ITI. It will also send a strong signal that arts and culture is vital to our community and society at large, especially in these times."

So what exactly is ITI?

ITI is an independent theatre school for contemporary artists.

It was first founded in 2000 by theatre practitioners and cultural thought leaders, the late Kuo Pao Kun and T. Sasitharan.

Alumni from the school includes actress Yeo Yann Yann, who was recently nominated for the Taiwanese Golden Horse Award for Best Leading Actress for her performance in the film Wet Season.

And who is Stephen Riady?

An Indonesian tycoon, Riady is currently the executive chairman of OUE, and is set to also become its CEO, beginning Jan. 1, 2020.

He will replace the current CEO of 11 years, Thio Ghim Hock, The Straits Times reported.

Additionally, his son, Brian Riady, is slated to be promoted to deputy chief executive, starting from Jan. 1, 2020, according to a press release by OUE on the firm's succession plan.

Brian Riady is expected to assist his father in setting the group's strategic direction.

Previously, the younger Riady had held the position of chief executive of OUE's Hospitality Division in 2018, at the age of 28.

Top collage left photo courtesy of Stephen Riady, right photo by Intercultural Theatre Institute