Malaysia: KYS Education eyes IPO to bolster expansion plans

KYS Education Group's flagship college, KYS College Malacca's website.

KYS Education Group is planning an initial public offering (IPO) to raise funds for its expansion plans.

The Edge Financial Daily cited sources familiar with the group’s plans, saying the group had yet to decide when to launch the IPO.

KYS, founded by businessman Halim Saad, is principally involved in education, with its flagship private school Kolej Yayasan Saad located in Melaka.

The flagship school was founded in 1995 by Halim Saad. It has facilities for primary, secondary and tertiary foundation education.

KYS International College Sdn Bhd international programme director Kamaruddin Awang declined to comment on the group’s IPO plans when meeting with local reporters at a signing ceremony last Friday for the collaboration with eight universities in New Zealand (New Zealand Consortium Universities) to offer foundation courses jointly developed by the latter.

Kamaruddin said, the four foundation programmes would be the first of their kind that had been accepted by all universities in New Zealand.

Currently, the group’s KYS Business School has a partnership for an accounting programme with Victoria University of Wellington, Auckland University and Canterbury University.

The sources told The Edge Financial Daily that the latest collaboration with New Zealand Consortium Universities is part of KYS’ expansion ahead of its planned IPO.

KYS is also reported to be in negotiations with a major property developer to set up a new school in Kuala Lumpur.

“Since last year, KYSG has been expanding its educational offerings into tertiary education. Right now, it is looking at pre-school education. The goal is to provide a full-fledged one-stop centre for education — from preschool to primary, secondary and tertiary foundation,” another source told the financial media.

KYS posted a revenue of MYR25 million in the three months to June. With the latest collaboration programme, it targets to generate MYR15 million more in revenue.

It is understood that the group is looking to spend MYR60 million to set up the school with a capacity of 900 students.

Also read:

Malaysia: Ekuinas pushes education porfolio, Ilmu’s IPO to another 6 to 12 months

India: Grey market premiums for IPOs missing despite strong pipeline

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.