Khoo Foundation In 1981, businessman Khoo Teck Puat established the Khoo Foundation with a fund of $20 million. Run by Khoo’s daughter, Mavis Oei, the foundation provides financial assistance for social welfare and education. In 1981, it endowed the Distinguished and Senior Fellowships in International Economics and Finance at Singapore’s Institute of Southeast Asian Studies. The foundation was honoured with the Arts Supporter Award by the National Arts Council in 2001.