Dear Shareholders,

I am happy to report that the Group has continued on the path of profitability in FY2010. The sustained recovery saw us register a net profit after tax of S$4.0 million, which is a credible performance achieved by the concerted effort of everyone in the Group, in spite of the economic doldrums of the past year.

Underpinning our performance in FY2010 has been the Group’s successful positioning as a global education service provider with both depth and breadth across various regions from Asia to Africa, from Middle East to Europe. This is testament to our global orientation, effective teamwork, constant innovation, and our diligence and determination. We were able to extend our global footprint by establishing new centres in Europe, Africa and Asia, enhance the productivity of our centres and licensed partners, strengthen our academic infrastructure, and develop new cutting-edge programmes in fields from business to finance, infocomm technology and computing security

Geographically, we continue to expand into important cities in key regions in Europe, Africa and Asia. New nodes in our global network of centres have been added in European countries such as Germany, Russia and France, as well as in African and Asian countries such as Tanzania, Iran, Maldives and Botswana. Demand for our courses continued to come from countries such as Nigeria whilst Singapore remains an important stronghold and springboard for the Group. Aside from market growth, we continued to improve upon the management and control of all our 335 centres which are spread across 53 countries.

On the operational front, we continued to enhance the productivity of our campuses and centres with the addition of more industry-relevant courses to our current wide spectrum of programmes. Some of the new programmes that have been put onto the market include professional financial international certifications such as the CFA, FRM and CAIA, and professional computing certifications in the areas of biometrics, computing and accounting forensics and certified ethical hacking, to name just a few. We have also developed Chinese Language, Culture and Business programmes with some of the top universities in China to target the entrepreneurs and professionals wishing to gain competitive knowledge and insights into the culture and conduct of business in the vast Chinese market.

Other than geographical expansion and programme development, one of the key priorities in FY2010 was to continue enhancing our operational efficiency and effectiveness. Our academic infrastructure has become more efficient particularly in using technology to support a whole range of academic activities such as teaching, testing, and assessments. We have also become more effective in rolling out new programmes to new centres at a rapid pace.

Looking Ahead
Our view of the global education market remains largely positive and the economic recovery in the last few months points to an encouraging future. As we continue to grow and innovate, the groundwork we have laid over the past years has also made us more resilient as a unit. However, as competition and uncertainty in the world economy increase, we, as a global education service provider, must remain committed to innovation and change. Much work still lie ahead of us as we continue to evolve into a stronger and more nimble organisation, able to respond to the opportunities that are before us. These opportunities include rising demand for more industry-relevant programmes in key industries and in growing emerging markets, and in innovations that drive greater flexibility in terms of business and programme development, student management operations, programme delivery, assessment, testing and certification.

The theme of this year’s annual report is “Grooming Global Thought Leaders”, and education is one of the few truly borderless industries anywhere in the world. As technology and trade draws various communities closer, Informatics and its partners remain well-aligned to a common vision – that is to groom students who are able to think globally, act locally and tackle workplace challenges more effectively.

Note of Appreciation
In concluding my statement, I would like to record my gratitude to my fellow Directors for their patient guidance and advice. In particular, I would like to thank Datuk Zainun and Mr Anderson Tang, both of whom have resigned from their respective positions as a Non-Executive Director and an Independent Director. I greatly appreciate their valuable counsel and the insights they have brought to the Board and I wish them all the best in their future endeavours.

I would also like to extend my appreciation to the management and staff, academic advisers, students, teachers and business partners who have all contributed to the success and growth of Informatics. Last but not least to all our shareholders, I would like to thank you for your continued patience and support for the Group all these years. I look forward to sharing more good news with all of you as we work hard and strive towards achieving our goal of delivering quality education and grooming global thought leaders of the future.

Thank you.