The University of Nottingham is to buy out its joint venture partners in the University of Nottingham Malaysia (UNM).
UNM, which is based in Semenyih, Selangor, was established in September 2000 in partnership with Malaysian conglomerate Boustead Holdings Berhad (BHB).
The university will now – through a wholly-owned Malaysian subsidiary – buy out BHB’s 66.41% controlling stake in the UNM for approximately £23.5 million, becoming UNM’s majority shareholder. The transition to majority ownership by the University of Nottingham will commence in the autumn.
From its origins as a higher education provider to just 89 students, UNM now employs 650 staff and educates 5,200 students drawn from across the ASEAN (Association of Southeast Asian Nations) region and beyond. It will now seek to expand international research partnerships and extend its reach across Malaysia and the ASEAN region.
This will underscore the university’s position as the UK’s truly global university – Shearer West, University of Nottingham
“Having recently celebrated 20 years of delivering world-leading research and education in Malaysia, we are looking forward to building the next 20 years of student success, research achievements and commitment to our global presence and impact,” said University of Nottingham vice-chancellor Professor Shearer West.
“With demand for higher education in the ASEAN region expected to increase significantly in the coming years, majority ownership of the UNM campus creates the potential for us to provide high quality UK tertiary education to a region which is home to one in 11 of the world’s 15- to 24-year-olds and demonstrates significant appetite to expand its higher education provision.
“Together with the university’s other global campus in Ningbo, China, where we educate some 8,000 students each year, this will underscore the university’s position as the UK’s truly global university. Nottingham represents the excellence, entrepreneurialism and global engagement that characterises the very best of British universities. This bold investment in our Malaysia campus will help secure our continued success and contribute to that of the UK as it forges its place on the global stage in a post-pandemic world.
“Our commitment to UNM and to Malaysia remains as strong as ever. This purchase will allow us to build on excellent foundations in teaching and research to develop new, innovative teaching programmes and research that supports sustainable development locally, regionally and globally. Degree courses and staff jobs at UNM will be secured for the long-term, and we are developing new strategies to chart our future in Malaysia with the same passion for education in the country that we have had since the start of the century.”
BHB managing director Dato’ Sri Mohammed Shazalli Ramly said: “By placing UNM under the full stewardship of the University of Nottingham, we trust that UNM will continue to accomplish great things in the future. The University of Nottingham is an esteemed global institution and we extend our best wishes for all the upcoming endeavours of UNM.”
Photos © University of Nottingham
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