Fairview Interna

Fairview was established to acquire two companies which own and operate two private independent schools in Malaysia that offer the International Baccalaureate programme. One of these schools is located in Kuala Lumpur, the capital of Malaysia, and the other is located in the southern state of Johor close to the border with Singapore. These schools trade under the Fairview brand which was founded in 1978, and were subsequently acquired by Agodeus Sdn Bhd, a company owned by the Chian family, in 2012. There are three other schools in Malaysia and one in the United Kingdom that also trade under the Fairview brand, which are outside of the Company's group. All schools in the Fairview network are individually recognised by the International Baccalaureate Organisation as fully accredited to offer the IB programme across the primary and middle years; ages 5 to 16, with Fairview KL also offering the diploma programme for 16 to 19 year olds. Each of the schools not owned by the Company will continue to operate independently from the Company following Admission but will continue to use the Fairview brand under licence from the Company accessing the resources of the FIS Network. The Company acquired the school in Kuala Lumpur as it is the largest and flagship school that uses the Fairview brand, whilst the school in Johor was acquired as it focuses on the expatriate market in Singapore and so is more internationally focused than the remaining schools which are more focused on the domestic Malaysian market.

The Company plans to develop and operate its own schools and also to acquire more schools which can offer international education including the IB programmes both in Asia and the UK. The Company in particular believes there is an opportunity to acquire underperforming private independent schools in the UK and adapt its product offering to be authorised to offer the IB programme. With a rise in popularity of the IB programme in both the independent and state sector in the UK, with a growing acceptance of IB graduates by UK universities, the Directors believe that the Company's schools will appeal particularly to the ASEAN, China and Hong Kong market; particularly families looking for an educational foundation in the UK prior to studying at a UK University. This option has become increasingly attractive to Asian parents as they are increasingly concerned about the safety of their children and have a perception that Asian pupils are less welcome in further education establishments in the United States and Australia which traditionally would also have been considered by Asian parents as university destinations.