ID :
109705
Thu, 03/04/2010 - 10:08
Auther :
Shortlink :
https://oananews.org//node/109705
The shortlink copeid
RAFFLES TO INVEST US$59 MLN IN ISKANDAR MALAYSIA
From J.Premalatha
BEIJING, March 4 (Bernama) -- Raffles Education Corporation Ltd, Asia Pacific's largest private education provider, plans to invest about RM200 million (US$59.3 million) over the next five years to set up a full-fledged university in Iskandar Malaysia.
Chairman and Chief Executive Officer Chew Hua Seng said the project, to be
known as Raffles University Iskandar, would be developed in phases.
Raffles Education, in collaboration with Education@Iskandar Sdn Bhd --
a wholly-owned subsidiary of Iskandar Investment Bhd, was conducting a
feasibility study on the plan, he told reporters after a media tour to Oriental
University City at Langfang City, about an hour travel from Beijing.
Present were Khazanah Nasional Bhd Executive Director and Chief
Representative in Beijing Ben Chan and Oriental University City Ltd (OUCL) Chief
Executive Officer Liu Yan Wen.
Khazanah, the Malaysian government's investment holding arm, has a 60
per cent share in Iskandar Investment. Recently, it acquired a 10 per cent stake
in OUCL from Raffles Education for US$44 million (RM150 million).
Chew said upon the completion of the feasibility study, procurement of the
university, vocational and technical licences and other regulatory approvals,
Raffles Education Corp and Education@Iskandar would form a joint venture company
in Malaysia to build and operate Raffles University Iskandar.
"We need to make the application to the Ministry of Higher Education. I
believe everything should be in a year's time and we will be building up phase
by phase including the hostels.
"The moment we start getting approvals, we intend to roll out on a smaller
scale in a facility that is going to be offered by Iskandar Malaysia," he said.
He said Raffles Education would be the key shareholder of the joint venture
company.
The proposed Raffles University Iskandar will be developed on a 26-ha site
and will offer a range of undergraduate programmes including business,
technology, arts and design, health science, education and social science
specialisations.
The university is aiming to enroll approximately 5,000 students within its
first five years.
Chew said Raffles Education also hoped to attract students from neigbouring
countries like Singapore, Thailand and Indonesia to the proposed university.
Raffles Education runs 33 colleges in 31 cities across 11 countries.
Meanwhile, Chan said Raffles Education would be able to contribute
significantly to the development of the education sector in Malaysia
by offering industry-oriented programmes to students and to develop them into
relevantly skilled professionals.
-- BERNAMA
BEIJING, March 4 (Bernama) -- Raffles Education Corporation Ltd, Asia Pacific's largest private education provider, plans to invest about RM200 million (US$59.3 million) over the next five years to set up a full-fledged university in Iskandar Malaysia.
Chairman and Chief Executive Officer Chew Hua Seng said the project, to be
known as Raffles University Iskandar, would be developed in phases.
Raffles Education, in collaboration with Education@Iskandar Sdn Bhd --
a wholly-owned subsidiary of Iskandar Investment Bhd, was conducting a
feasibility study on the plan, he told reporters after a media tour to Oriental
University City at Langfang City, about an hour travel from Beijing.
Present were Khazanah Nasional Bhd Executive Director and Chief
Representative in Beijing Ben Chan and Oriental University City Ltd (OUCL) Chief
Executive Officer Liu Yan Wen.
Khazanah, the Malaysian government's investment holding arm, has a 60
per cent share in Iskandar Investment. Recently, it acquired a 10 per cent stake
in OUCL from Raffles Education for US$44 million (RM150 million).
Chew said upon the completion of the feasibility study, procurement of the
university, vocational and technical licences and other regulatory approvals,
Raffles Education Corp and Education@Iskandar would form a joint venture company
in Malaysia to build and operate Raffles University Iskandar.
"We need to make the application to the Ministry of Higher Education. I
believe everything should be in a year's time and we will be building up phase
by phase including the hostels.
"The moment we start getting approvals, we intend to roll out on a smaller
scale in a facility that is going to be offered by Iskandar Malaysia," he said.
He said Raffles Education would be the key shareholder of the joint venture
company.
The proposed Raffles University Iskandar will be developed on a 26-ha site
and will offer a range of undergraduate programmes including business,
technology, arts and design, health science, education and social science
specialisations.
The university is aiming to enroll approximately 5,000 students within its
first five years.
Chew said Raffles Education also hoped to attract students from neigbouring
countries like Singapore, Thailand and Indonesia to the proposed university.
Raffles Education runs 33 colleges in 31 cities across 11 countries.
Meanwhile, Chan said Raffles Education would be able to contribute
significantly to the development of the education sector in Malaysia
by offering industry-oriented programmes to students and to develop them into
relevantly skilled professionals.
-- BERNAMA
