EDUSPEC Holdings Bhd, an ACE Market-listed provider of integrated educational technology solutions has announced the appointment of Datuk Alex Kang Pang Kiang as the company’s deputy chairman with effect from today (April 15).
This follows Kang’s emergence as a substantial shareholder of Eduspec on April 8 after his acquisition of 24 million shares that bring his direct interest in Eduspec to 5.1%. To date, he holds a combined 142 26 million shares or 12.1% of direct and indirect interests in the company.
This development is set to bolster Eduspec’s recent venture into the 5G testing equipment market, marking a significant milestone in the company’s expansion into the technology sector.
Following the initial award of a RM10 mil contract in December 2023, Eduspec recently secured an additional RM30 mil in contract from EG Industries Bhd to provide testing services for 5G optical modules and other related components, thus bringing the total value of contracts awarded by EG Industries to RM40 mil to date.
The contracts cemented EG Industries’ confidence in Eduspec and underscored Eduspec’s commitment to keep at the forefront of technological innovation and its capability to deliver cutting-edge solutions.
“Datuk Alex’s involvement as the Deputy Chairman of Eduspec is a testament to the confidence in Eduspec’s potential and our shared vision for the future,” Eduspec CEO Datuk Seri Gan Chow Tee pointed out.
“His proven track record and deep industry knowledge will be invaluable as we navigate the opportunities and challenges in the evolving technology landscape.”
The partnership between Eduspec and EG Industries is also envisioned as a collaborative effort to address the pressing need for skilled engineers in Malaysia, particularly in the realm of 5G technology.
Both companies are also exploring plans to establish a state-of-the-art training centre with support from high-tech companies from the US, China and Europe. This initiative will not only enhance Eduspec’s educational offerings but also position the company as a professional testing house for 5G optical modules.
The ensuing collaboration aims to address Malaysia’s engineering talent shortage, particularly in specialised sectors like 5G technology by leveraging Eduspec’s capabilities to train new engineers and upskill existing ones.
“These young students will be practically trained by EG Industries and EG Industries’ customers to solve the shortage of talented engineers and upskill the existing pool of local engineers within EG Industries,” envisages Kang.
“Hence, EG Industries will benefit from this solution and continue to grow as a top 50 Global EMS (electronic manufacturing services) while align with our commitment to filling industry gaps and strengthening Malaysia’s position in the global electronics manufacturing sector.”
All in all, Kang brings a wealth of experience and expertise to Eduspec. With a distinguished career spanning over two decades in financial management, corporate restructuring and investor relations, his visionary leadership is expected to drive strategic growth and enhance shareholder value at Eduspec.
At the close of today’s trading, Eduspec was up 0.5 sen or 4% to 13 sen with 3.14 million shares traded, thus valuing the company at RM153 mil. – April 15, 2024
