President’s Statement 2003

2003 Annual Report
President’s Statement

We cannot deny that a strong graduate workforce is essential for Malaysia to make a positive contribution to the global economy.

The past year has been an unrivalled one for SEGi’s growth, in spite of unnerving but influential global developments. SEGi’s performance over the last 12 months showed a strong and tactile ability to respond to market volatility.

As we conquer new frontiers ahead, our desire is to keep focused on maintaining investors’ confidence, while meeting and exceeding public expectation befitting a professional education provider.

The Group’s student enrolment statistics over the past 2 years is highly encouraging – from 9,500 in 2001 to 18,500 by the end of 2003. This increase came substantially from new academic offerings, particularly postgraduate degree programmes via overseas university collaborations.

As our country spearheads its economic and social development agenda, continuing education will be the catalyst for the creation of a skilled and competent workforce, able to serve the country’s needs. The industry estimates that private higher education has so far enabled only 20% of SPM and STPM school-leavers (about 350,000 annually) to pursue tertiary studies, while the pool of human resource is estimated at over 9 million.

We responded to the demand for occupational training by setting up a Department of
Vocational Training to oversee this market. Through SEGi’s approved training centres,
more than 3,000 students were recruited for a range of skill based courses, from National Vocational Training Council (MLVK) to PROLUS (Program Lulus) Training programmes for corporate clients under the Ministry of Human Resource Malaysia.

For bumiputra students, SEGi made available financial assistance packages such as bank loans, PTPTN, EPF withdrawal schemes, deferred and installment plans and scholarships, thus opening the doors of tertiary education previously shut on them.

The Malaysian government’s call to strengthen our regional competitiveness has produced fruitful business opportunities for SEGi. New partnerships were forged with numerous universities and institutions in China over the last year.

China students are now able to enter into over 100 academic programmes, with option topursue recognised Bachelor and Masters qualifications from prestigious UK and
Australian universities, without having toleave their homeland.

We also entered into arrangements with institutions in Singapore, Indonesia, Cambodia, Myanmar, Laos, Vietnam, HongKong, Mauritius, India and Sri Lanka, through which our academic and technical expertise will complement partners’ local operations and facilities in delivering theircourses and programmes.

Quality infrastructure for our local campuses continues to be a main concern. SEGi has
invested more than RM8mil for upgrading exercise, and this includes extension of campus and centre premises and acquiring of new facilities and equipment.

A new flagship campus currently being developed in Kota Damansara will cement our image and presence as a strategic institution of higher learning in Malaysia. Located within the Selangor Science Park, the 10-acre institution will have full campus facilities for about 12,000 local and international students when completed in 2007.

SEGi’s business strategy for the next few years will also include infrastructure upgrading for existing campuses in Subang Jaya and Kuching.

We also celebrated our achievements in other unexpected ways – receiving the KLSE Corporate Excellence Awards 2003. This has effectively proven our ability and secured our position as a listed corporate entity. In the year ahead, we aim to live up to investors’ great expectations by sustaining revenue while propelling towards growth and expansion.

In summary, SEGi have set on conquering new heights without missing a single beat: serving our students more effectively, delivering quality service and products, nurturing noble management ethics, forging closer institutional ties with the all sectors of the education industry and beyond.

Dato’ (Dr) Patrick Teoh Seng Foo