2010 Annual Report
Messages from Key Management
Group Chief Executive Officer
SEG International Bhd
SEGi is no greenhorn when it comes to growth and I reiterate
that SEGi performed commendably for the financial year 2009 and
years previous to this. For 2010, however, I am proud to declare
that SEGi has fared tremendously well. Yet again, SEGi has not
only hit but outdone the target the Group set for itself.
The 30.6% jump in revenue for 2009 appears dwarfed by the leap
in 2010. SEGi’s full year profit after tax for the year
ended 31 December 2010 rose an incredible 322 % to RM43.2 million
from RM10.2 million.
Revenue during the 2010 period increased 30.8 % to RM217.6 million
from RM166.4 million in the previous year, whereas the net cash
flow from operating activities improved to RM65.5 million from
This multiple fold growth was made possible by a combination
of internal and external
factors. Within the year, SEGi University College had already
launched a string of homegrown programmes on top of value-adding
existing diploma and twinning degree programmes offered by the
The Group also benefited from the expanding market for local
tertiary education due to rising costs abroad, and due to government
initiatives for the education sector under the Economic Transformation
Programme (ETP) and the 10th Malaysia Plan. SEGi is actively involved
in the ETP especially as an appointed champion provider of early
childhood and child care training to teachers and care-givers
But of course it isn’t always about the profits and bottom
line. In 2010, the Group surpassed previous efforts in terms of
Corporate Responsibility (CR). Perhaps the most influential of
our CR initiatives in 2010, and one which had a great positive
impact on local communities, was the launch of our Mobile Clinics
project offering free health services to the public throughout
By capitalising on our strengths and our existing national and
international collaborations, as well as focusing on the development
of new and strategic partnerships, SEGi has become one of the
leading institutions in providing quality education.
With these and other ongoing initiatives, SEGi is poised for
greater growth in 2011 and beyond.
Hew Moi Lan
Group Chief Operating
SEG International Bhd
I must say I am extremely proud that SEGi has outdone itself for
the year 2010. The numbers show it all as to how well SEGi Education
Group has performed. My most sincere congratulations and gratitude
goes out to the leaders and supporters who have made this achievement
SEGi is poised for sustainable growth over the next 5 years
after efforts by the management to streamline operations and to
diversify its programmes, both homegrown and twinning.
New partnerships with established international universities
have strengthened the programmes currently offered at both diploma
and degree levels. SEGi has also recently established the grounding
for a branding and transformation exercise called the Transformation
programme which commences in 2011. The Transformation programme
will have no immediate financial impact on SEGi. Instead, it will
assist the Group in achieving targets for the 2011 financial year
and beyond. The five main strategic outcomes we aim to achieve
are; produce graduates that are highly employable and sought after;
offer a holistic student experience; display academic strength;
be the best place to work; and achieve global brand recognition.
The vision held under the Transformation programme is for SEGi
to deliver happiness to all parties involved with SEGi, i.e. the
students, shareholders and staff. Most importantly, we want to
improve the quality of our services to the students and the programmes
The implementation of this exercise cuts across every level and
section of the organisation to ensure synergy and effectiveness.
This Transformation programme also falls in line with SEGi’s
vision of achieving a top SETARA rating in the near future.
I am positive that with the hardwork, focus and dedication of
an exceptional staff force, SEGi can outshine again in 2011.
Emeritus Professor Dr. Muhamad
SEG International Bhd
2010 was indeed an exciting and momentous year for the Group,
filled with much success and milestones.
SEGi took another step towards becoming a full fledged University
in 2010 with the development and launch of key homegrown high-ticket
programmes including Medicine and Optometry.
In conjunction with the development and implementation of these
programmes, SEGi University College is also proud to have attracted
some of the industries best and brightest minds as well as set
in place the extensive infrastructure and integrated curriculum,
again demonstrating our commitment to becoming one of the leading
institutions in providing a “unique competitive advantage”
to enhance our communities.
In addition to the development of these programmes, SEGi benefited
from numerous academic and industry collaborations, further strengthening
our service and delivery. One such collaboration was an agreement
between SEGi University College and the University of Abertay
Dundee whereby students graduating from our homegrown business
and accounting degree programmes will receive an additional degree
parchment issued by the University of Abertay Dundee, apart from
the SEGi degree parchments.
Looking ahead towards 2011, SEGi will continue in its efforts
to attain University status. As such, we are focusing our efforts
on SETARA, the MQA Rating System for Higher Education Institutions
in Malaysia, with the vision of attaining the highest rating.
SEGi has always been passionate about producing highly sought-after
graduates and in 2011 we will launch a dedicated career services
centre designed to develop soft skill and increase overall student
Another exciting development in 2011 is our launch of the Research
and Innovation Management Centre (RIMC) intended to improve academic
strength and research capabilities while also tapping into industry
resources for R&D funding. With this RIMC in place, SEGi will
be well poised to qualify for its University status.
2010 was an exciting year but 2011 promises to be even more
instrumental in the future development of the University College
and the Group as a whole.