KUALA LUMPUR: Tanjung Offshore Bhd has signed a memorandum of understanding (MoU) with Hills Education Group (HEG) to venture into education and training.
The joint venture combines Tanjung Offshore’s business expertise and HEG’s vast education experience to form a dynamic and strategic partnership.
“This joint venture marks a very exciting time for Tanjung Offshore,” group chief executive officer Rahmandin Md Shamsudin said in a statement.
“We are making good, on our promise to diversify and this education initiative will lead Tanjung Offshore to new, profitable areas to expand our portfolio that will see better returns to shareholders and employees.”
Executive deputy chairman Tan Sri Tan Kean Soon said: “Malaysia is emerging as a higher education superpower, both in terms of number of students as well as quality of education. Malaysia has the largest number of international students in the region.
Malaysia has emerged as a top study destination among rapidly developing countries, for students around the world.”
In 2015, Malaysia hosted 151,979 international students. By year 2020, the Higher Education Ministry is targeting an increase to 200,000 students.
“The influx of foreign students will create countless spin-offs including raising the country’s profile internationally, attracting investments from top overseas education providers and enabling local students to embark on degree programmes without having to go abroad for the entire duration,” he added.
“Foreign student presence will also contribute higher national revenue for both education and tourism industries.”
In 2014, Malaysia was UNESCO’s top 20 countries for international students, ranking at 12, while in 2015, it was shot up to number 9.
Tanjung Offshore was reported earlier to have stated its intention to diversify, which is expected to fuel Tanjung Offshore’s growth in response to the slowdown in the oil and gas industry.
While remaining focused on oil and gas, Tanjung Offshore is gearing up to enter the property construction, development and maintenance arena whilst exploring opportunities in education, aerospace and transport.