KHAZANAH Nasional Bhd will buy a 10 per cent stake in Oriental University City Ltd (OUCL) for some RM150 million from Asia- Pacific's largest private education group, Raffles Education Corp Ltd (REC).
Human hair wigsIn a statement issued yesterday, Khazanah said the investment will be made via its wholly-owned unit, Rawa Investments (Cayman Islands) Ltd.
"This investment is part of our China and education services strategy. It gives us exposure to the exponential growth potential of China's education services sector," Khazanah managing director Tan Sri Azman Mokhtar said.
He said there would be increased demand for skilled workers every year as China continued to lead the world in economic recovery and growth.
The investment will allow Khazanah to capitalise on this by tapping into China's higher education business, which sees 26 million new students and is worth US$39 billion (RM134 billion) a year.
"In this regard, we are pleased to partner REC, which has a proven track record in the vocational education segment in other countries in Asia-Pacific, including China and Singapore," Azman said.
OUCL, a wholly-owned unit of the Singapore-listed REC, was incorporated in the Cayman Islands.
OUCL, through its subsidiaries, owns Oriental rolex replica University City, a 3.31 million sq m self-contained campus in Langfang, Hebei Province, China.
This flagship
embroidered patches project is located within an hour's drive from Beijing and Tianjin, which have a combined population of 28 million.
Oriental University City currently houses and provides education services through 16 colleges with a total student population of 36,000.
Once the transaction is completed, REC and Khazanah intend to list Oriental University City by August 31 2013.
Both stakeholders are also actively exploring the viability of replicating this university city business model in Malaysia and other countries in the region.
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