 Dear Shareholders
We are indeed delighted to report that Informatics
returned to the black with a net profit of $4.4 million
for the first time after five years of losses. This full-year
turnaround is a significant achievement as it reflects the
overall success of our concerted efforts to manage this
company with financial discipline while expanding the
business through new products and new markets.
Notwithstanding a slight dip in our Group revenue,
and the fact that improved cost management has
contributed to Group profitability in FY2009, we still
hail our financial turnaround as a laudable milestone.
We believe that the company has cleared the deck after
much restructuring, and is set to sail forth, supported
by a strong management team led by our CEO Patrick
Ho who brings with him a wealth of experience.
In the last few years, we have been working hard to
enhance existing offerings and introduce new products.
To brace ourselves for a new era of growth, the Group
is re-positioning itself as a service provider that is
committed to ¡°grooming global thought leaders¡±. In
line with this strategy, we have developed and unveiled
an exciting pipeline of new courses on cutting-edge
subjects that are attuned to the manpower needs of
emerging industries. Cyber-psychology, biometrics,
forensic accounting, events management, hospitality
services, financial management, security management,
ethical hacking, CFA, CAIA, forensic computing, mobile
engineering are just a few of the many subjects covered in more than 70 new courses that have been launched
recently and are expected to be rolled out worldwide
later in 2009.
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Relevance to business and career needs is a key
consideration in developing our new programmes which
are designed after much research, as well as discussions
with various industry groups in Singapore and the
region to ascertain the latest market trends and needs.
While Singapore is our headquarters and starting point
for new product development, we are mindful of the
importance of ensuring that our programmes and
courses will continue to appeal to our global pool of
students who are becoming increasingly sophisticated
and spoilt for choices. |
A GLOBALLY RECOGNISED IT-PLUS INSTITUTION |
Global Operations and Presence
Our campuses, both physical and online, host students
in 351 centres hailing from 58 countries, spanning the
Asia Pacific region, Europe, Africa and the Middle East.
Our global network and operations include NCC¡¯s 269
licensed centres in 51 countries.
Given the global thrust of our business, we are forging
ahead with our aggressive international marketing
campaign, especially in the fast-growing Asia-Pacific
region. From our vantage point in Singapore, Informatics
is well-positioned to harness this growing demand for
education services in the region, by delivering the right
products to meet the changing and varied needs. We
intend to build on the growth momentum by expanding our global network of centres to support our two key
business segments, Global Higher Education, Professional
Skills Development and Corporate Training.
Strategic Alliances
Our strategy to spearhead growth in terms of delivering
new courses and venturing into new markets also hinges
on the vital support of our business partners. In FY2009,
we forged strategic tie-ups with new partners including
Thomas University, University of Hertfordshire and Ellis
University to introduce a number of new programmes,
thus broadening our base of reputable university
partners to 8 in total.
We recognise the importance of such symbiotic
relationships and we are constantly working closely with
our partners to offer the best programmes at the most
competitive fees. To date, more than 20 universities and
institutions from around the world accept our diplomas.
Solid Foundation
We have built up a solid foundation for growth in the
last five years ¨C a base consisting of a comprehensive
range of quality programmes that are relevant,
rigorous and leading-edge. These offerings will serve
as our growth driver in an industry which is expected to grow as people need to sharpen their skills or to reinvent themselves.
While the economic outlook for 2009 continues to be uncertain and competition is becoming stiffer, we are confident that the Group is all set to grow, given our new product offerings and a leaner administrative
framework and cost structure. With $26 million in
cash and zero gearing, we should be able to ride out
the economically challenging times ahead. How we
perform will hinge on our response to market and
student needs, and our continued ability to deliver
on our promise for quality programmes. Barring any
unforeseen circumstances, the Board remains cautiously
optimistic about the outlook for financial year 2010.
Acknowledgements
I would like to thank my fellow board members for
their invaluable guidance and committed leadership. In
particular, I would like to record our deep appreciation
to Ms Cecilia Tong Chiu Fai, who will be retiring from
the Board at the coming Annual General Meeting.
However, she will remain as Chief Financial Officer of
the Group. I also wish to extend our appreciation to the
management and staff, our academic advisers, teachers
and business partners who have persevered with us to
place the Group on an even keel in the last five years.
To our students and shareholders, a big ¡®thank-you¡¯ is in
order for the confidence and loyal support given to the
Group so far.
We will continue to work hand in hand together to
strengthen the global branding of Informatics as a
provider of education services that nurture global
thought leadership.
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