USM commercial arm to venture overseas
Published: 2011/07/11
GEORGE TOWN: Universiti Sains Malaysia's (USM) commercial arm - USAINS Group of Companies - is looking to expand its operations beyond Malaysia by venturing into neighbouring countries.
Group managing director Datuk Dr Gan Ee Kiang told Business Times recently that the company is looking at Indonesia, the Philippines and Vietnam for potential joint-venture activities.
He added that the joint ventures will be useful to commercialise the university's technologies and expertise, along with contract research and consultancies which are focussed on regional development.
"We have already appointed a representative in Indonesia and hope to do likewise for the other two countries by next year.
Group managing director Datuk Dr Gan Ee Kiang told Business Times recently that the company is looking at Indonesia, the Philippines and Vietnam for potential joint-venture activities.
He added that the joint ventures will be useful to commercialise the university's technologies and expertise, along with contract research and consultancies which are focussed on regional development.
"We have already appointed a representative in Indonesia and hope to do likewise for the other two countries by next year.
"With this proposed expansion, we are looking at generating additional income, not only for USM, but also for the university's staff," Gan said.
He added that these efforts are expected to see the workforce in the respective countries up-skilled with cutting-edge technologies and in turn, see the entry of more value-add industries in the region.
Closer to home, Gan said the group is conducting post-graduate training for 50 fresh graduates, in a bid to meet the acute demand for design engineers in the electrical and electronics fields.
"This programme," he added, "is being carried out in collaboration with the Northern Corridor Implementation Authority along with an industry partner."
The programme, Gan noted, has attracted top engineering students and USM's School of Electrical and Electronics Engineering, and it has accepted these students into its Masters by Research Programme as well.
"By the time these students complete this programme," he said, "they would have received industry-related training, completed research based on industry problems and this will enable them to receive a Master of Science Degree by research and electrical and electronics, and they would have ready job offers."
For its 2010 financial year ending December 31, USAINS recorded RM5.5 million, or 24 per cent, increase in revenue of RM28.4 million. This compares with RM22.9 million for its previous financial year.
The group recorded a higher profit before tax of RM5.3 million, an increase of 388 per cent, which is equivalent to RM4.2 million, as compared to RM1.1 million in the 2009 fiscal year.
For its 2011 financial year, USAINS is projecting a 70 per cent increase in revenue from its 2010 turnover.
Meanwhile, Gan said if USAINS is able to successfully implement its corporate strategic plans over five years beginning 2010, the company is likely to meet the requirements for a Main Market listing on Bursa Malaysia.
"The final decision on matters such as an initial public offering," Gan stated, "will be decided by USM since it is the company's sole shareholder."
He added that these efforts are expected to see the workforce in the respective countries up-skilled with cutting-edge technologies and in turn, see the entry of more value-add industries in the region.
Closer to home, Gan said the group is conducting post-graduate training for 50 fresh graduates, in a bid to meet the acute demand for design engineers in the electrical and electronics fields.
"This programme," he added, "is being carried out in collaboration with the Northern Corridor Implementation Authority along with an industry partner."
The programme, Gan noted, has attracted top engineering students and USM's School of Electrical and Electronics Engineering, and it has accepted these students into its Masters by Research Programme as well.
"By the time these students complete this programme," he said, "they would have received industry-related training, completed research based on industry problems and this will enable them to receive a Master of Science Degree by research and electrical and electronics, and they would have ready job offers."
For its 2010 financial year ending December 31, USAINS recorded RM5.5 million, or 24 per cent, increase in revenue of RM28.4 million. This compares with RM22.9 million for its previous financial year.
The group recorded a higher profit before tax of RM5.3 million, an increase of 388 per cent, which is equivalent to RM4.2 million, as compared to RM1.1 million in the 2009 fiscal year.
For its 2011 financial year, USAINS is projecting a 70 per cent increase in revenue from its 2010 turnover.
Meanwhile, Gan said if USAINS is able to successfully implement its corporate strategic plans over five years beginning 2010, the company is likely to meet the requirements for a Main Market listing on Bursa Malaysia.
"The final decision on matters such as an initial public offering," Gan stated, "will be decided by USM since it is the company's sole shareholder."
No comments:
Post a Comment