Eduspec shares down despite bagging deal

PETALING JAYA: Eduspec Holdings Bhd's shares fell 1.72% despite bagging a deal with Carnegie Mellon University yesterday to deliver a cutting-edge STEM (Science, Technology, Engineering and Mathematics) education curriculum focused on Robotics and Computer Programming education for primary and secondary schools in the Asian Market.
The company's shares closed down RM0.005 to 28.5 sen yesterday, with some two million shares changing hands.
Eduspec on Tuesday announced that it will have exclusive rights to deliver the iCarnegie programs in seven Asian countries comprising Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam and Myanmar.
Kicking off in Malaysia, Eduspec will provide iCarnegie's K12 STEM program to kindergarten to year 12 students and vocational and pre-university college students who comprise 5.1 million of the local student population.
The program will be launched in 2015, and will initially target Eduspec's current market of about 720,000 Chinese school students.
The collaboration also provides for a full Computer Science curriculum that will include a series of innovative programming courses geared to students in the early grades.
"This strategic collaboration reaffirms iCarnegie's confidence in Eduspec's experience and capabilities in delivering the STEM program to students in Malaysia and throughout Asia," Eduspec CEO Lim Een Hong said.