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LEVERAGING on the support provided by one of Singapore's richest men, a local education provider is looking to expand locally as well as into countries in the region such as China, India and, possibly, the Middle East.
Yesterday, real estate mogul Kwek Leng Beng announced that the Hong Leong Group, of which he is executive chairman, was investing $7.5 million, through CES Education Holdings, in MindChamps.
MindChamps, which started in Singapore in 2002, currently operates out of two offices at the HDB Hub in Toa Payoh.
Its programmes have been developed in co-operation with educational professionals such as former Raffles Girls' School principal Carmee Lim, and the director of Australia's Centre for the Mind, Professor Allan Snyder. According to MindChamps founder David Chiem, these courses are designed to teach students the 'art or process of learning' rather than 'what to learn'.
The Hong Leong Group, which is better known for its hotel chains and financial services businesses, will acquire a 50 per cent stake in the company. This is its first, and only, move into the education sector, said Mr Kwek.
Speaking at a press conference yesterday, Mr Kwek said: 'I have spent extensive time thinking about this sector and I am convinced of the instrumental impact education has on our world economies.'
He added that he was 'very impressed' with MindChamps after observing lessons there.
'I'm not looking so much about how much return can we get...My objective is to have some corporate responsibility in contributing to what I think we as a group can help Singapore to achieve.' said Mr Kwek.
He called Mr Chiem a creative entrepreneur, which is why their 'wavelengths gelled'.
MindChamps currently has 3,372 students enrolled in its six programmes. By the end of the year, Mr Chiem expects to enrol another 5,000 new students.
MindChamps has programmes ranging from preschool up to tertiary level.
Sessions cost between $30 and $40 an hour. The duration of each session in different courses varies from two hours a week to a full day on weekends.
Asked how much more he was willing to invest in MindChamps, Mr Kwek responded: 'Hundreds of millions. I always do big things. But this is a small thing which I think is very good.'
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