HELP heading for double-digit growth this year

HELP International Corp Bhd (7236) expects double-digit growth this year on its strong local and international education business.

Its president and co-founder Datuk Dr Paul Chan said some of the projects that HELP had collaborated with different partners, foreign universities and professional bodies were expected to bear fruit by the middle of next year.

"We will continue to strengthen our revenue sources, global branding and our positioning beyond Malaysia," he told a media briefing after the company's extraordinary general meeting (EGM) in Kuala Lumpur yesterday.

The EGM approved a three-for-five bonus issue involving more than 53.26 million new shares.
Chan said HELP would have about 140 million shares after the exercise, a 60 per cent increase from the current 88 million shares.

"With the increase in liquidity, we anticipate more trading and participation from the market," he said.

The EGM also approved an increase in HELP's authorised share capital from RM50 million to RM250 million comprising 500 million shares.

HELP director of corporate planning Adam Chan Eu-Khin said many international and local institutional funds had expressed interest in the shares.

On the development of its campus in Fraser Business Park in Kuala Lumpur, Chan said the group was excited about its prospects.

"We will move in this November. It will be launched in January 2011 in conjunction with our 25th anniversay celebrations.

He said with good hostel facilities, the group could attract international students as well.

The group has signed a 15-year lease deal with Fraser and Neave Holdings Bhd to develop its city campus off Jalan Yew, KL. - Bernama