Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 18): Matrix Concepts Holdings Bhd is partnering a local firm affiliated with a Chinese education group in Hebei, China, to boost the enrolment of Chinese students at its Negeri Sembilan international school.

It said in a Bursa Malaysia filing that its wholly-owned unit Matrix Global Education Sdn Bhd (MGE) inked an education joint collaboration agreement with Hengshui Yizhong Education Group Sdn Bhd yesterday.

Hengshui Yizhong is affiliated with Hengshui No 1 High School (HHS) in Hebei, China, and is licensed to provide high school learning facilities in Malaysia, in compliance with the system of education in China.

HHS is a well-known higher learning education group which has 52 branches around China with over 300,000 registered students and is a much sought-after school in China, said Matrix Concepts.

Under the deal, the parties agreed for Hengshui Yizhong to enroll at least 600 students into MGE's Matrix International School (MIS) over three years, starting from 2018.

In return, MGE agreed to provide Hengshui Yizhong and its teachers and management staff meals and accommodation during the agreement period, "inclusive of education/teaching place, teaching facilities including laboratory, library, sport facilities and places for sport activities, teaching materials, and related information, school uniform including meals and boarding for the students enrolled
by Hengshui Yizhong, subject to charges mutually agreed upon by the parties".

Besides the international school, MGE also operates the Matrix Private School, and Matrix International Pre-School, collectively known as Matrix Global Schools (MGS), all of which are located in Bandar Sri Sendayan, Negeri Sembilan.

"MGS was built with a vision of providing not only a global education, but also to nurture its students to have a global outlook as they prepare for the borderless world. Through this collaboration with HYE, overall education in MGS would be truly an international one as its students will now be able to expose themselves to cross cultural experience which will greatly benefit MGS’s students.

"In addition, the influx of the students enrolled by HYE, together with the existing foreign students of MIS, is expected to boost the economic activities in Bandar Sri Sendayan, which in turn, will enhance further growth to the township," the filing read.

Matrix Concepts said the agreement will not have any material impact on its earnings for the financial year ending March 31, 2018, but should  enhance the earnings of MGE for the subsequent financial years.  

At the closing bell today, Matrix Concepts finished one sen or 0.36% higher at RM2.80, for a market capitalisation of RM1.65 billion.

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