Announcement Details/Table Section :
1. INTRODUCTION
The Board of Directors of HELP International Corporation
Berhad ("HELP") wishes to announce that HIC is
expanding its education business to set up a private
primary and secondary international school ("the HELP
International School").
2. DETAILS OF THE HELP INTERNATIONAL SCHOOL
HELP has on 16 January, 2012 received an approval from the
Education Ministry to establish a private international
school to be located within the vicinity of HELP
University's flagship green technology campus in Subang 2.
The HELP International School will be operated by HELP
Education Services Sdn. Bhd., a wholly-owned subsidiary of
HELP.
3. RATIONALE
The demand for quality private education in Malaysia
continues to grow strongly with the population growing in
affluence. There are expectations of increase of expatriate
and international students arrival in Malaysia due to the
Greater Kuala Lumpur-National Key Economic Area's target of
increasing expatriates and also the returning diaspora
population. The establishment of the HELP International
School is part of the Group's long term plans to expand its
educational presence in the country.
4. FINANCIAL EFFECTS
The establishment of the HELP International School will not
have any effect on the issued and paid-up share capital and
the Net Assets of HELP. It is also not expected to have an
immediate material effect on the earnings per share of the
Group for the financial year ending 31 October 2012.
5. SOURCE OF FUNDS
The establishment of the HELP International School and the
premises of the school will be financed by internally
generated funds and external borrowings.
6. APPROVAL OF SHAREHOLDERS
The establishment of the HELP International School does not
require the approval of the shareholders.
7. DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST
None of the Directors and/or major shareholders and/or
persons connected with the Directors or major shareholders
have any interest, direct or indirect, in the above
project.
The Board of Directors of HELP is pleased to attach
herewith a Press Release entitled "HELP receives nod
from Ministry of Education to build international
school".
This announcement is dated 18 January 2012.
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