MindChamps PreSchool to have centres operating in Beijing by August
MindChamps PreSchool, the largest premium pre-school operator and franchiser in Singapore and the only listed one here, is planning to have centres operating in Beijing by August.
The company plans to grow initially by acquisition in China, specifically focusing on the capital, said chairman and group chief executive officer David Chiem yesterday.
This follows an announcement last month that MindChamps had entered a joint-venture agreement with China First Capital Group to create a fund that will raise an initial $200 million tranche for establishing and acquiring pre-schools in China.
The two also created a new company to act as master franchiser for China.
The move into China is part of the company's ambition to become the world's top brand of early childhood education, said Mr Chiem.
MindChamps announced late last year that it would also be expanding into Myanmar and Vietnam. Other markets Mr Chiem said MindChamps wants to expand into include the United Kingdom and Australia, where the company acquired four centres last year.
MindChamps currently has over 50, mostly franchisee-owned, pre-schools and enrichment centres here and in Australia, Abu Dhabi, Dubai and the Philippines.