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12 June 2015

[Malaysian Reserve] SEGi aims 5%-10% growth annually

Premalatha Jayaraman

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(Pic by:Ismail Che Rus/TMR)

Higher education provider SEG International Bhd believes it can achieve 5%-10% annual growth of student enrolment as the weakened ringgit will make overseas education more expensive, said its group MD Tan Sri Clement Hii Chii Kok.

Currently, Hii said SEG International have over 25,000 students in five campuses – Kota Damansara, Subang Jaya, Kuala Lumpur, Penang and Sarawak.

“In view of the weakening ringgit, most parents may find it difficult to send their children overseas for further studies. Cost would have gone up 10%-20%. So, it is good news for the local private higher learning institution players,” he told reporters after the company’s AGM in Petaling Jaya yesterday.

“I foresee additional number of students enrolling to local private higher learning institutions due to the cost factors. I foresee 10-15 % growth in students applying to enter local universities,” he said.

Hii said local private higher learning institutions should take the advantage to further improve the quality of its offering and education to be on par with foreign universities to attract more students.

However, he said SEG International does not emphasise on the quantities but on the quality.

He said students will also look into twinning programmes in view of the depreciating ringgit.

“They can choose to study 2+1 programme, where students can complete two years in Malaysia and go overseas to complete the remaining duration of their degree. We have twinning partners with universities from Australia, the United States and the UK,” he said.

According to him, it is offering over 200 different courses.

For the first quarter ended March 31, 2015, SEG International’s net profit increased to RM10.82 million compared to RM7.21 million recorded in the corresponding quarter, on the back of a RM67.37 million revenue, driven by better product mix and higher demand for higher level programmes.

In a filing with Bursa Malaysia recently, the company said it has launched a number of new initiatives in the last two years which provide a strong foundation for growth. With this in place, the company expects its financial performance to improve further for this and the coming years.

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