KUCHING – Private higher education provider, SEG International Bhd (SEGi) is poised to continue its exponential growth, with the announcement of its latest earnings and launching of new educational projects.
SEGi’s 2nd quarter net profit for the period ended 30 June 2011 surged 67.6% to RM 18.1 million from RM 10.8 million in the corresponding period a year earlier, whereas profit before tax jumped 64.9% to RM 22.7 million. Revenue during the three-month period increased 31.6 % to RM 69.2 million from RM 52.6 million in the previous corresponding period.
SEGi’s 2nd quarter net profit for the period ended 30 June 2011 surged 67.6% to RM 18.1 million from RM 10.8 million in the corresponding period a year earlier, whereas profit before tax jumped 64.9% to RM 22.7 million. Revenue during the three-month period increased 31.6 % to RM 69.2 million from RM 52.6 million in the previous corresponding period.
The half year profit after tax of RM 36.3 million is equivalent to 84% of previous year’s full year result of RM 43.1 million and analysts are predicting that the full year result for 2011 will be another record breaking performance.
KEY FIGURES: Datuk Seri Clement Hii (middle) with SEGi University College’s Vice Chancellor, Emeritus Prof. Dr Muhammad Awang and SEGi Sarawak Principal Ms Stella Lau
Datuk Seri Clement Hii, SEGi’s group managing director, said that while the Group’s four campuses in the Klang Valley
“SEGi Sarawak currently has 1700 students, and it will further expand its course offerings and facilities in the coming years,” he pointed out.
Currently, 300,000 new school leavers enter the tertiary education system every year. Based on conservative yearly revenue of RM 15,000 per student, the market is worth a staggering RM4.5 billion.
Furthermore, the government’s plan to double the foreign student enrolment in local private institutions from currently 90,000 foreign students to 200,000 students by easing the application of student visas and improving working opportunities upon graduation will be a boost for the market.
Amid the scenario, Hii expects SEGi to grab a bigger piece of the pie given its well-known brand name, strategically located campuses and diversified course offerings.
Early this year, SEGi was appointed by the government as “champion” to lead a consortium to upgrade qualification of the existing work force for Early Childhood Care and Education (ECCE) numbering approximately 40,000 and to train up to 218,000 ECCE educators by 2020. In addition, SEGi will also be leading the setting up of ECCE training hub in Kuala Lumpur and other parts of the country.
On 21st July 2011, SEGi was again appointed “project leader” by the Government through the Ministry of Human Resource to promote skill based training to international market. This is a new initiative to bring in foreign trainees and learners to Malaysia , known as Skill Malaysia International Technical Education and vocational training programme( “Skills Malaysia INVITE).
Skills Malaysia INVITE is part of the government’s Education National Key Economic Area (NKEA) which has identified “Scaling Up of Private Skills Training Provision and Championing Malaysia’s International Education Brand” as among the initiatives to achieve the goals of the Economic Transformation Programme (ETP).
Hii felt SEGi’s appointment by the government was a testimonial of SEGi’s credibility and leadership in private tertiary education.
“It will help to enhance our brand name and provide SEGi with first mover advantage in those markets. SEGi will continue to adopt forward-thinking strategies which will enable the group to maintain a sustainable growth rate, profitability, and maximize returns to all stakeholders,” he added.
SEGi is now the largest private education provider in Malaysia with 24,500 local and foreign students. It is listed on Bursa Malayisa with a market capitalisation of RM1.4billion (inclusive of warrants).
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