SEGi Gets New Board Chairman

WORKING TOGETHER: Datuk Clement Hii (left) with Tan Sri Megat Najmuddin, new Chairman of the SEGi’s Board of Directors.

12 September 2008 – One of Malaysia’s largest private education groups, SEG International Bhd (SEGi) has appointed Tan Sri Dato’ Seri Megat Najmuddin bin Dato’ Seri Dr Hj Megat Khas as its new chairman, replacing Datuk Pahamin Rajab. Megat is prominent in the corporate sector and the political arena as well, having been a state assemblyman in Selangor and held various political positions. Megat is also chairman of four other public listed companies – Tradewinds Corporation Bhd, Asian Pac Holdings Bhd, Formis Resources Bhd and MajuPerak Holdings Bhd. He also sits on the board of Dialog Group Bhd and Salcon Bhd. The new SEGi Chairman is also the President of both the Federation of Public Listed Companies Bhd and the Malaysian Institute of Corporate Governance. Megat now sits on UMNO Malaysia’s Disciplinary Committee

The change in SEGi Board also saw its Group Chief Executive Officer Datuk Clement Hii being redesignated as Group Managing Director/CEO.

Hii said the company looked forward to the new Chairman’s input and contributions to the education group as it aimed for new heights on the corporate and financial fronts.

“The business outlook for 2008 and beyond continues to be positive with continuous and sustainable growth anticipated for the next few years,” Hii said.

Meanwhile, SEGi has reported an improvement in revenue of 46% and an improvement in profit before taxation of 126% for the six months of 2008 when compared to the corresponding period in 2007. The education group achieved RM55.2mil in revenue and profit before tax of RM7.28mil for the six months of the year.

The company says the improvement is generally due to the introduction of new academic courses at the group’s institutions.