Positioning Towards the Future Academic Year 2006/07 was the first ever for the University in the Autonomous University framework established with corporatisation in April 2006. I am pleased to report that the University made significant progress during the year. The creation of the Non-Profit Corporation Nanyang Technological University and the transfer of assets from the previous Statutory Board form of the University went without a hitch. We welcomed new members to the Board of Trustees - Mrs Tan Ching Yee, Permanent Secretary, Ministry of Education, and Mr Edmund Cheng, Deputy Chairman of Wing Tai Holdings Limited. The Board of Trustees together with the university leadership established our Vision and Mission statements. The Board has also been actively engaged in strategic affairs of the University. Our Vision is to be “a great global university founded on science and technology”. With our base of science and technology, the University will build on its strengths and develop complementary strengths in new fields. NTU was placed 15th in Technology in the Times Higher Education Supplement (THES) 2006 World University Rankings. Our Nanyang MBA was ranked top in Singapore and third in Asia by both the Economist Intelligence Unit and the Financial Times, in 2006 and 2007, respectively. In pursuing its goal to be a great global university, NTU places equal emphasis on research excellence and quality of education. Our Mission of “nurturing creative and entrepreneurial leaders through a broad education in diverse disciplines” expresses our commitment to moulding the next generation of leaders through a multi-dimensional education that emphasises character building as much as academic learning. We also believe in the importance of synergising research and teaching to scale the heights of academic excellence. This conviction was endorsed by the International Academic Advisory Panel, who visited NTU in January 2007.   Strengthening the Foundation NTU’s journey to become a Great Global University will entail several stages of change, in particular in our structure and systems. To prepare ourselves for the growth we envisage in the coming years, we need to ensure that the right structures and processes are in place. Some notable improvements in this area have taken place in the past year. A four-college structure was established to optimise synergies and streamline reporting within the University. The 12 NTU Schools were absorbed into the College of Engineering, the College of Science, the College of Business (Nanyang Business School) and the College of Humanities, Arts and Social Sciences. Our organisational structure was further adjusted with the arrival of Professor Bertil Andersson as Provost on 1 April 2007. Former Chief Executive of the European Science Foundation and Rector of Linkoping University in Sweden, Professor Andersson comes to NTU with world renowned academic reputation and leadership experience to enhance academic leadership in the University. He is also a trustee of the Nobel Foundation, and has served on the Nobel Chemistry Prize committee for many years, chairing it in 1997. A new academic governance structure has also been approved by the Board of Trustees for implementation. When implemented in 2007/08, this governance structure will provide the necessary long-lasting academic framework for excellence with energetic faculty participation in academic affairs of the University. We have established our second campus in Singapore, NTU@one-north. A graduate school in one-north is being planned next, tapping synergies with A*Star Research Institutes in Biopolis and Fusionopolis. The Institute of Defence and Strategic Studies was transformed this academic year to become the S Rajaratnam School of International Studies (RSIS), in honour of the late Mr S Rajaratnam, former Foreign Minister and Deputy Prime Minister, a member of the founding generation and the crafter of the National Pledge. The School provides a professional graduate education in International Relations and Strategic Studies with a strong practical emphasis. RSIS conducts policy-relevant research in defence, national security, international relations, strategic studies and diplomacy, as well as builds a global network of like-minded professional schools. The School of Communication and Information in the College of Humanities, Arts and Social Sciences has been named The Wee Kim Wee School of Communication and Information, in honour of the late President Dr Wee Kim Wee. President Wee was a respected and renowned career journalist. An endowment fund was raised, with contributions from all walks of life, to support programmes at the School such as international reporting stints and ventures. A new system for faculty appointment, promotion and tenure has been implemented to inject greater rigour and high standards into faculty development and renewal. A new tenure scheme has been created to enhance the careers of exemplary faculty and to attract talented academics to join the University.