I was wondering how long it will take for my readers to ask the "right" question. The prize goes to SEE ------------
I would like to ask another question, how many of the students are under PTPTN? I am not questioning whether Masterskill is a good place of learning, I am more concerned of its business model and the accountability plus transparency parts. If I set up HELP College, maybe 20% of the students will be on government scholarships or loans. Since I am privately owned, thats about right.
If 40% of my students are on the same government study loans, things start to blur. If its past 50%, danger Wilson, danger. I hope its not 95% like what SEE mentioned, but can we get a figure.
If the majority of students were on the same government study loans, then Masterskills profitability can be called into question. It recorded an audited revenue of RM273.4 million and net profit of RM97.4 million for its financial year ended Dec 31, 2009. No matter how you cut it, 97.4 divided by 273.4 is a fucking 35.6% NET MARGINS, where in the world can get that kind of net margins??!!?? If a college is dependent for the majority of students on the same govt's loans, it certainly is unjustifiable for the college to make such huge supernormal profits, or am I deluded? Of course if the number of said students is only a minority, then Masterskills is a terrific institution of higher learning... full stop.
Its important because if a private institution has the majority of students from the same government study loan scheme, the government should have a stake or a strong say in the institution, don't you think so. Some kind of build-operate-transfer should be in place. IF I am largely dependent on the same government loan scheme for the majority of my students, I would question why the government is not given a stake. Thats why we have UM, UKM etc. ... It also makes for a bad business model as in a convoluted way its like Proton all over again (started and maintained with huge subsidies from the government and the public).
But its a big IF, so can we have the release of the number of students under PTPTN at Masterskill please. No investment view, just questions.
kh has left a new comment on your post "Feedback On Masterskill":
As of end 2009, there are 17,165 students, 95.5% of Masterskill’s students financed their programme fees via National Higher Education Fund Corporation (PTPTN)loans. The balance 4% of its students were sponsored by private foundations and public and private hospitals, and only 0.5% of its students were on self-financing.
Extracted fro DBS research dated 30th Apr 10.
Thanks KH, 95.5% hmm.... don't know what to say anymore ...