SEGi Receives Shareholders Approval For Share Buy-back
 Mr. Lee Kok Cheng |
SEG International Bhd. (SEGi) has obtained approval from its shareholders for its proposed Share Buy-back exercise, at the Company's Extraordinary General Meeting (EGM) held recently. The move will see SEGi purchasing its own ordinary shares on Bursa Malaysia Securities Berhad of not more than ten percent (10%) of the issued and paid-up share capital. Given the current market conditions and current absence of a strategically aligned and financially compelling investment opportunity, the usage of excess funds for a share buy-back will improve the EPS of the Group. The share buy-back is not expected to have an impact on the Group's ability to maintain any foreseeable capital expansion plans or other growth initiatives. The board and management remain committed to expanding the business of the Group organically and through mergers and acquisitions. |
SEGi has appointed two new directors, namely, En. Abdullah Kamal bin Shafi'i as Non-Executive Director and Mr. Lee Kok Cheng as Executive Director.
The new Executive Director, Lee, fondly known as “KC”, brings with him more than 20 years' experience in the education industry, 17 of which were with another higher education group. He has held positions as Vice-President, Higher Education, Group Executive Director and Executive Director. KC is currently also the Chief Operating Officer of SEGi.
It also announced the appointment of Dato' Pahamin Rajab as Chairman of the Board, replacing Tan Sri Dato' Seri Abdullah bin Ayub who has retired. Pahamin is also chairman of AirAsia Bhd.