MindChamps has entered into a joint venture (JV) to open a new preschool centre in Malaysia’s Sunsuria City, expanding its strategic footprint in the country.
The new centre is a JV between Victoria Education, MindChamps’ master franchisee in Malaysia, and Sunsuria Arena, a wholly-owned subsidiary of Sunsuria Berhad.
Under the JV, both companies will incorporate a JV company to establish and operate preschools under the MindChamps PreSchool Limited brand name.
Victoria Education will hold a 70% stake in the JV company, while the remaining 30% stake will be held by Sunsuria Arena.
The latest MindChamps PreSchool centre is located at Giverny Walk in the integrated township of Sunsuria City. It will provide premium preschool education to children between the ages of 18 months and six years old.
“We were instinctively drawn towards MindChamps’ breakthrough preschool curriculum and is Singaporean parents’ number one choice in the competitive Singapore market. Hence, we are determined to bring the excellent education system into Malaysia,” says Dato’ Jeffrey Lai, managing director of Victoria Education.
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“Education is the hallmark of a civilised and sustainable society. We are proud to offer one of the region’s most recognised preschool brands in Sunsuria City, as we believe MindChamps equips young children with the right mindset and tools to stay curious and open-minded in this rapidly changing world,” says Sunsuria’s executive chairman Tan Sri Datuk Ter Leong Yap.
David Chiem, MindChamps’ founder CEO and executive chairman adds, “We are excited about this partnership between Victoria Education and Sunsuria to build MindChamps Preschools. This partnership will enable us to nurture and teach the young minds of Malaysia to realise their fullest potential.”
As at 2.47pm, shares in MindChamps are trading flat at 29.5 cents.
