Sunsuria Berhad and Victoria Education Sdn Bhd have entered into a joint-venture agreement to foray into the preschool education space.
Under the Shareholders’ Agreement between Victoria Education and Sunsuria Arena Sdn Bhd, both companies will incorporate a joint-venture company – with 70% and 30% shareholding respectively – to establish and operate preschools under the award-winning MindChamps PreSchool Limited brand name.
SASB is a wholly-owned subsidiary of Sunsuria while Victoria Education is a wholly-owned subsidiary of Paragon Education Group – the master franchisee of Singapore based MindChamps in Malaysia.
The JV partnership is expected to bring synergistic value to Sunsuria’s flagship Sunsuria City township by offering premium quality preschool education to the residents and surrounding community.
Sunsuria City’s first MindChamps PreSchool, which measures approximately 7,861sf, will be located at Giverny Walk, the commercial centre situated close to the Monet Residences development.
Since 2019, Victoria Education has established two MindChamps PreSchool centres in Johor Bahru, with a plan to launch 18 more preschool centres and 10 enrichment centres across Malaysia by 2024.
Beyond Malaysia, MindChamps holds the Number 1 market share of premium range preschools in Singapore and now has a strong presence in Australia. MindChamps nurtures children from 18 months to 6 years old in the playgroup, nursery, and kindergarten levels.
“We were instinctively drawn towards MindChamps’ breakthrough preschool curriculum and is Singaporean parents’ number one choice in the competitive Singapore market. Hence, we are determined to bring the excellent education system into Malaysia,” said Victoria Education’s Managing Director Dato’ Jeffrey Lai Jiun Jye.
“Education is the hallmark of a civilised and sustainable society. We are proud to offer one of the region’s most recognised preschool brands in Sunsuria City, as we believe MindChamps equips young children with the right mindset and tools to stay curious and open-minded in this rapidly changing world,” said Sunsuria’s Executive Chairman Tan Sri Datuk Ter Leong Yap.
“MindChamps is the perfect fit to complete our education ecosystem at Sunsuria City, which comprises primary and secondary level schools, Year 7 to Year 13 schooling under Concord College Malaysia, as well as tertiary education via Xiamen University Malaysia.
The partnership aligns well with Sunsuria City’s ‘Smart Liveable and Sustainable’ value proposition, as we strive to provide customers with products and services of quality and excellence,” said Ter.