Minda Global makes disappointing debut

KUALA LUMPUR: Educational services provider Minda Global Bhd, which was listed on the Main Market of Bursa Malaysia Securities Bhd (Bursa Securities) yesterday through the takeover of Asiamet Education Group Bhd’s (AEGB) slot, closed its first trading day 6.82% lower at 20.5 sen with 1.4 million shares traded.
The company took over the listed status of AEGB through a one-for-one share exchange arrangement with existing AEGB shareholders, which saw Minda’s entire issued share capital of RM247.98 million comprising 1.24 billion shares being admitted this morning to the official list of Bursa Securities in place of AEGB.
Minda Global currently owns Cyberjaya University College of Medical Sciences (CUCMS), Asia Metropolitan University that operates campuses in Kuala Lumpur and Johor Baru as well as Asia Metropolitan Colleges in Kuching, Kota Kinabalu and Kota Baru. The group also has a presence in the international school sector through its ownership of Asia Metropolitan International School in Ipoh.
The group has over 5,000 students. Minda Global’s international school is fully licensed by the Ministry of Education and provides primary and secondary education along the UK Cambridge Pathway curriculum while its higher education institutions deliver diploma, degree and postgraduate programmes accredited by the Malaysian Qualifications Agency in the areas of medicine, pharmacy, psychology, nursing, occupational safety & health, allied health sciences and business administration. Over a 13-year history, the various institutions in the group have produced over 20,000 graduates.
The composition of the board indicates that a re-energised business strategy and prudent financial management will be a key focus in the next 12-18 months as Minda Global seeks to achieve a high level of synergy between its various holdings.
Minda Global director Tan Sri Dr R. Palan shared his optimism that a larger group, strong institutional synergy, new board members with strong reputation and a new senior management team will help it face the challenges of the industry.”
With the acquisition of Cyberjaya University College of Medical Sciences in 2017, Minda Global believes it has the right mix to successfully achieve its business objectives.
Minda Global is expected to develop new programmes within the group to expand its study disciplines and improve growth in student intake. CUCMS on the other hand, plans to move to a new purpose-built campus by mid-2018 which will double the university’s current capacity while providing world class student experiences and enhancing Minda Global’s teaching and learning infrastructure.