Education Sector - May 2013

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Industry Observer Education & Training
Vol. 05/May -13

CONTENTS
INDUSTRY UPDATES .........................................................................................................2
OPERATIONS .................................................................................................................................. 2 MERGERS AND ACQUISITIONS ................................................................................................ 2 REGULATIONS ............................................................................................................................... 2 RECOGNITION ............................................................................................................................... 2 OTHERS ............................................................................................................................................ 2

INDUSTRY WATCH.............................................................................................................3
OPERATIONS .................................................................................................................................. 3 MERGERS AND ACQUISITIONS ................................................................................................ 4 REGULATIONS ............................................................................................................................... 5 RECOGNITION ............................................................................................................................... 6 OTHERS ............................................................................................................................................ 7

INDUSTRY STATISTICS ....................................................................................................9 PRODUCT ANALYSIS .......................................................................................................10
PHARM.D. (DOCTOR OF PHARMACY).................................................................................. 10 OVERVIEW .................................................................................................................................... 10 ENTRANCE EXAM: EAMCET.................................................................................................... 10 INDIAN SCENARIO..................................................................................................................... 11 GLOBAL SCENARIO.................................................................................................................... 12 OUTLOOK ...................................................................................................................................... 12

COMPANY ANALYSIS ......................................................................................................14
TREE HOUSE EDUCATION & ACCESSORIES LTD .............................................................. 14 OVER VIEW ................................................................................................................................... 14 BUSINESS STRATEGIES .............................................................................................................. 14 PRODUCTS & SERVICES ............................................................................................................ 15 FINANCIALS OF THE COMPANY ........................................................................................... 16 COST STRUCTURE ANALYSIS.................................................................................................. 17 MARKET INDICATORS .............................................................................................................. 18 COMPETITORS ............................................................................................................................. 18 SWOT ANALYSIS ......................................................................................................................... 19 FUTURE PERFORMANCE .......................................................................................................... 19

MARKET INDICATORS ...................................................................................................21 UPCOMING EVENTS AND CONFERENCES ..............................................................23

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INDUSTRY UPDATES
OPERATIONS      UK : Regent's College in London to become UK's second private university Muscat : UK varsity set to open hub Singapore : Harvard expands reach in Asia India : IIMS plan to conduct road shows abroad to attract Foreign Students India : 44 Colleges get funds to gear up for accreditation

MERGERS AND ACQUISITIONS        USA : Research universities to establish global network UK : London School of International Studies to open in Korea in 2014 Iran and Armenia, in favor of increasing university partnerships China-Europe research centre opening in Copenhagen India : Manipal Varsity inks agreement with China's top Tech Institute India : US helping India to set up 100 Community Colleges India : France looks to tie-up with Goa in higher education

REGULATIONS     UK : Met University lifted ban on enrolling foreign students UK : Ban advertising aimed at primary school children Mexico : Reforms its public school system India : Central Board of Secondary Education to introduce open-book exams in schools

RECOGNITION  India : Maharashtra knowledge corporation limited receives global recognition OTHERS        UK : KFC serves up degree course UK : Leading universities 'given more freedom to expand' Europe : Kazakhstan to leave only 100 universities in 2 years Poland: Europe's new university destination? Iran : Women with higher education have Harder time finding employment Africa : Uganda registers new private university UAE : Indian expats explore higher education options in Saudi Arabia

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INDUSTRY WATCH
OPERATIONS UK : Regent's College in London to become UK's second private university Regent's College in London will become only the second private university in Britain after receiving official approval to change its name to Regent's University London. The non-profit institution announces that it has received confirmation from the Department for Business, Innovation and Skills that it meets the criteria for the university title. It will be contacting Companies House to change its name to Regent's University London and will re-launch as a university under its new name later this year, according to Aldwyn Cooper, Regent's College chief executive officer. Regent's will become the largest private university in Britain, its 4,500 students making it twice the size of the University of Buckingham, the first private university granted a royal charter back in 1983, and the largest single undergraduate educator outside of the state system. Muscat : UK varsity set to open hub The University of Wolverhampton will launch a new regional office in Oman to provide information and advice to potential students. The Middle East Regional Office (MERO) will be based in Muscat. It aims to build long partnerships with Middle-Eastern governments and private-sector companies, delivering consultancy for new projects and offering short courses for continuous professional development and knowledge transfer partnerships. It will also provide advice and information on student admission to more than 300 courses and visa procedures and will make accommodation enquiries and provide personal assistance to prospective students who want to study at the University of Wolverhampton. The MERO office operations also cover the Gulf countries of the United Arab Emirates, Bahrain, Kuwait, Qatar, Saudi Arabia, Egypt, Lebanon, Iraq, as well as other Arab states. Singapore : Harvard expands reach in Asia Harvard University is expanding its reach in Asia through its online program and by reaching out to students with lesser means, according to University President Drew Faust. edX, the nonprofit joint venture started last year by Harvard and the Massachusetts Institute of Technology, offers university-level classes free online and already has attracted more than 700,000 people. Most of those enrolled are from outside the U.S., and 44,000 are from East Asia, which includes China, Hong Kong, South Korea and Japan, Dr. Faust said in an interview. People see almost the miraculous impact can have and the ways in which the kinds of knowledge that people are so hungry for can be made available. edX has been producing online courses at a slower pace than competitors—such as the for-profit Coursera, which produces classes from 62 institutions including Duke University, the University of Pennsylvania and the National University of Singapore—so it can focus on engagement and quality. India : IIMS plan to conduct road shows abroad to attract foreign students The Indian Institutes of Management (IIMs) are gearing up to make a bigger mark in the global arena in order to attract more foreign graduates and make the country's top business schools operationally and financially more autonomous. The IIMs plan to conduct road shows abroad to attract talent that will make the batch of students more diverse. Some foreign students are already studying at some IIMs but the government expects the number to rise after the proposed law empowers them to award MBA degrees instead of the diploma currently offered. The majority of the IIMs agrees that the power to grant degrees will make
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the institutes more attractive to foreign students. To cater to international students, the IIMs plan to upgrade residential facilities and the standards of faculty and academics, particularly at the new IIMs. India : 44 Colleges get funds to Gear up for Accreditation The Department of Collegiate Education (DCE) has identified 44 first grade colleges across the state as having potential for the National Assessment and Accreditation Council's (NAAC) grading. Funds have been allocated to these colleges to improve their infrastructure to meet the eligibility criteria for accreditation. The funding will help many of these colleges which presently lack infrastructure. These 44 colleges have been selected from among 190 colleges which were given permission for accreditation in 2006. The DCE has chosen colleges that have been functioning from at least five years. According to Bhagyalakshmi B L, director, Department of Collegiate Education, the selection was done on the basis of an assessment by the NAAC cell in co-ordination with the department. MERGERS AND ACQUISITIONS USA : Research universities to establish global network Four of the world’s major research university groups are to form an international network as a parallel organisation to the Global Research Council of Science and Engineering Funding Agencies, established last year by agency representatives from nearly 50 countries. The Association of American Universities (AAU), the League of European Research Universities (LERU), the China 9 League of leading universities and the Australian Group of Eight (Go8) research-intensive universities plan to join forces to tackle what the groups see as the challenges facing research institutions around the world. The presidents of the four groups and their executive directors are likely to hold their first meeting later this year, possibly in October, when they are expected to discuss and release a set of principles regarding the global role of research-intensive universities. UK : London School of International Studies to open in Korea in 2014 The school announced the opening of its London School of International Studies (LSIS), which will be housed at Woosuk University an hour and a half south of Seoul. The LSIS is set to open next March and will offer degrees in international relations and international finance. Upon graduation, students will receive a diploma from the London School of Economics. The LSIS is just one of a number of international schools opening satellite schools in Korea. The University of California Los Angeles School of Nursing is also preparing to open a school in the southern port city of Busan in the coming years. The influx of international colleges comes as surveys show that Koreans are increasingly seeking opportunities to obtain high quality overseas education at lower rates. Iran: Iran and Armenia, in favor of increasing university partnerships Iran and Armenia decided on expanding their cooperation and communication between universities of the two neighboring countries. The Rector of the Yerevan State University (ESU), Aram Simonian, during a meeting with the Speaker of the Iranian Foreign Ministry, Ramin Mehmanparast, held in Yerevan, capital of Armenia, requested an increase in the number of Iranian students in their country and increased university cooperation in the fields of geology, seismology and book publishing. Iran has 45 million people under 35 years of age, so it is considered a young country with high academic abilities, so they welcome the increase in university partnerships with other countries.

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Europe: China-Europe research centre opening in Copenhagen The collaborative centre is hoped to allow European and Chinese researchers a better opportunity to study each other's cultures. The new Sino-European centre will focus on research into social and political issues in Europe and China. The University of Copenhagen has strategically invested in research on Asia over many years, according to KU's rector, Ralf Hemmingsen. The new centre will considerably strengthen the university’s research and give it a prominent position in Europe within this broad and important field. While research collaborations between Europe and China has traditionally focused on the natural sciences, the Fudan Centre will instead focus on political and social issues. India : Manipal Varsity inks agreement with China's top Tech Institute In the first case of high tech cooperation between universities of India and China, the Manipal University of Karnataka signed a high technology partnership agreement with one of China's top technology institutions. This is the first case of collaboration involving high tech cooperation between universities of India and China, said Prof Madhav Das Nalapat, Honorary Director of Manipal University who signed the agreement with Wangying, Director, International Student Centre of the BIT. The agreement includes exchange of graduate, undergraduate students and academic personnel, cooperative research and development and exchange of academic or scientific materials and publications. India : US helping India to set up 100 Community Colleges The US is helping India realise one of its goals of establishing 100 community colleges under a new area of collaboration, according to Consul General of US Consulate, Chennai, Jennifer Mcintyre. US also supports India's launch of a high education web portal to disseminate information on education collaboration and exchanges. The US representatives were seeking to increase international student enrolment to prepare their graduates for better leadership in the new global economy. India has the largest number of Fulbright scholar exchange Programmes worldwide with more than 17,000 fellowships and other grants awarded to Indians and Americans. India : France looks to tie-up with Goa in higher education France wants to build closer ties with Goa in higher education and urban development according to Francois Richier, Ambassador of France in India. Both the nations have witnessed the doubling of the number of students visiting each country over the years. There are 2,600 Indian students studying in France while 1,600 French students are getting educated in Indian universities. The French and Indian institutes have signed 400 agreements with each other, which indicate the growing partnership in the field of education. REGULATIONS UK : Met University lifted ban on enrolling foreign students London Metropolitan University will be able to admit students from outside the EU again, but numbers will be restricted. The Home Office has overturned a ban on London Metropolitan University admitting students from outside the European Union after agreeing it has made sufficient improvements to its monitoring systems. The university became the first in the UK to be stripped of its right to sponsor students from outside the European economic area after evidence was uncovered of widespread abuse. The decision sparked anxiety at universities across the country amid fears it would damage the UK's reputation for higher education and deter applications from overseas students. According to Mark
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Harper, the Immigration Minister, a series of inspections over the past six months had shown the university had made the necessary improvements to its systems and administration. UK : Ban advertising aimed at primary school children Advertising aimed at under-11s should be banned amid fears it is creating a generation of children obsessed with money and material possessions, a powerful lobby of more than 50 experts warns. Companies selling products such as toys, sweets, clothes and video games should be prevented from marketing them towards primary school pupils amid fears the trend is undermining children’s natural development, it is claimed. The group of academics, authors, MPs and charity leaders warned that aggressive advertising aimed at infants as young as two was leading to a rise in ―pester power‖ as children increasingly nag parents for the most expensive brands. The development also makes it harder for parents to control their children and teach sons and daughters how to manage small quantities of money according to experts. Mexico : Reforms its public school system Mexico is in the process of reforming its public school system. Earlier this year, Associated Press reported that 18 of the country’s 31 states have ratified the plan to reform schools, essentially allowing President Enrique Pena Nieto to move forward with his plan to make the changes. For years the Mexican Public School System has been controlled by the National Union of Education Workers, one of the country’s most powerful unions with over 1.5 million-members. The reform plan is to shift control of the public school system from the union to the federal government. According the president of the Education Commission, Senator Juan Carlos Romero Hicks, the most important change is to create a professional system for evaluating, hiring and promoting teachers. Mexico’s system of hiring teachers has been a system where positions can be inherited or sold by the teachers, allowing for little or no evaluation of the teachers. India : Central Board of Secondary Education to introduce open-book exams in schools The decision of the Central Board of Secondary Education (CBSE) to introduce a modified open-book exam system from the current academic year is a step in the right direction. The new measure will see students being provided with case studies ahead of their final exams and tested on their conceptual understanding of the study material. The move signals a welcome shift in school-level pedagogy that has hitherto encouraged rote learning. It's because of such formulaic teaching practices that Indian students fare poorly in international exams. That our 15-year-olds ranked last but one among students from 70 countries in the 2009 PISA educational assessment programme is a case in point. RECOGNITION India : Maharashtra knowledge corporation limited receives global recognition MS-CIT developed by the Maharashtra Knowledge Corporation Limited (MKCL) which laid the foundation of e-learning in India, has achieved global recognition. MKCL has now tied up with Singapore and Ghana government for teaching MS-CIT course while Egypt too has granted recognition to the course. The MS-CIT course developed by it to provide computer education to the remotest parts of the country has been acknowledged at global level. Following its stupendous success, MKCL was invited to impart computer training in other states while Orissa and Rajasthan set up their own knowledge corporations namely, OKCL

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and RKCL respectively. MKCL provides training in MS-CIT through 5,000 centres in Marathi, Hindi, English, Urdu, Telugu, Kannada and Gujarati. OTHERS UK : KFC serves up degree course KFC has invested £600,000 to fund half of the three-year course for 60 staff over the next five years. Tuition fees will be split 50/50 with the employee. The first employees with places on the course – the UK's first honours degree funded by a restaurant chain – have begun their studies in conjunction with De Montfort University in Leicester. KFC will cover the cost of the college accommodation, while the tuition fees will be split half and half between the employer and the employee. The overall cost will be £9,000 over three years, the same figure as the annual tuition fee at many universities in England. Rival chain McDonald's launched a two-year foundation degree for its restaurant managers in 2010, combining classroom learning at a special facility in East Finchley in London with on-the-job training. UK : Leading universities 'given more freedom to expand' According to The Higher Education Funding Council for England, student number controls would be further relaxed. For the first time, institutions in England will be able to recruit unlimited numbers of teenagers gaining the equivalent of an A and two B grades. The move represents a sharp rise in the number of students who are not subject to strict controls as part of reforms designed to allow the most popular universities to expand. It also emerged that universities that under-recruited last summer would see their allocation of Government-funded places cut this year. The disclosure was made by the Higher Education Funding Council for England as it allocated £4.7 billion of teaching, research and capital grants to 129 universities and colleges for the forthcoming academic year. Europe : Kazakhstan to leave only 100 universities in 2 years Kazakhstan will have around 100 universities remaining in the nearest two years, according to Kazakhstan Minister of Education and Science, Bakytzhan Zhumagulov. The experience shows that the majority of the commercial universities are unable to provide education of the required quality. That's why it plans to slash their number from 66 to 30 in the nearest three years. It does not preclude optimization of the public universities either, especially in the view of the President's instruction to focus on meeting the needs of the country's regions. In the end, the total number of the universities (commercial and public) will make 100 in two years, Zhumagulov said at the government meeting. This will allow to reach the universities/population ratio accepted in developed countries. In the end most of Kazakhstan regions will have one state and one major private university. Poland: Europe's new university destination? Poland – hardly a top choice for international students – is currently trying to rebrand itself as Europe's new educational destination. It has long lagged behind other countries in terms of attracting students from abroad. At the moment foreign students account for only 1.39% of those attending Polish universities, with most of these students coming from Ukraine, Belarus and Norway. The number of British students enrolling at Polish universities is growing, but it remains small. In 2006-07 only 72 studied there, a figure which stood at 164 in 2010-11. Many institutions, such as Lazarski University, are making new efforts to cater to foreign students by offering degrees in English at both undergraduate and graduate level. The country's bargain courses are a major attraction for young people abroad. Juan Martín,

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an Argentinian studying English at a university in Poznan said that he came to Poland for his degree "because it's cheap, much cheaper than in Argentina. Iran : Women with higher education have harder time finding employment According to a national census in its recent study showed that almost 48% of unemployed Iranian women have a higher education certificate. This is in comparison to the 14% of unemployed men. While unemployment is still high in Iran, the rates have gone down in recent years. People most likely to be found without a job are those from 20 to 24 year olds. So the higher number of unemployment for women is those who recently graduated with a degree. Currently women only hold up to 10% of the national economic activities. The likelihood of finding a managerial job is also low. Thus no matter where they get their higher education certificate, it will overall be harder for women to find employment. Women with higher education expect better jobs while the market is made for men and women cannot replace men. Africa : Uganda registers new private university The National Council for Higher Education (NCHE) has accredited Uganda Technology and Management University (UTAMU) as the 30th private university in the country. This implies that the country now prides in having 30 private universities, on top of the five public ones- Makerere, Kyambogo, Gulu, Busitema and Mbarara. The new university will contribute in taking on a number of students who will not easily be accommodated by the overstretched institutions of higher learning. The universities in the country, can only accommodate half of the students who finish Senior Six every other year, due to inadequate infrastructure and human resource. The new university–UTAMU is owned by Makerere’s former Vice Chancellor Prof. Venansius Baryamureeba. UAE : Indian expats explore higher education options in Saudi Arabia Students and parents have strongly urged the Indian mission to explore options for opening higher education avenues for Indian expatriate students with Saudi authorities. Apart from students and parents, a large number of working professionals explored the options of various short-term, long-distance intensive courses to enhance their skills and expertise at the Higher Education Fair & Career Guidance Program organized by the Indian Youth Welfare Association (IYWA) recently at Consulate General of India in Jeddah. Universities, institutions and educational academies from India, Saudi Arabia and GCC countries participated in the Higher Education Fair to introduce and promote their new courses and institutions. Experts from various streams in education sector provided career guidance to students about the new courses and their opportunities, existing courses and their demand, in addition to options available in vocational, diploma and certificate courses in their respective fields.

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INDUSTRY STATISTICS
TOP MEDICINE COLLEGES IN UK-CUG RANK Top Medicine Colleges in UK-CUG Rank 2014 2013 University Name ES SS RA OS 1 1 Cambridge 639 4.09 3.14 100.00 2 2 Oxford 618 4.57 3.03 100.00 3 3 Edinburgh 585 3.88 2.98 98.40 4 4 University College London 562 4.03 2.91 98.00 5 6 Aberdeen 536 4.16 2.86 97.60 6 5 Imperial College London 548 3.79 2.91 97.40 7 8 Queen Mary 528 3.99 2.93 97.40 8 7 Newcastle 539 4.19 2.67 97.10 9 10 Birmingham 545 3.81 2.65 96.70 10 15 Manchester 534 3.61 2.81 96.70 11 22 Queen's, Belfast 517 4.33 2.47 96.40 12 23 Southampton 500 4.02 2.7 96.40 13 20 Cardiff 543 3.75 2.51 96.20 14 14 Leeds 501 4.04 2.63 96.20 15 17 Leicester 520 4.10 2.46 96.20 16 28 Glasgow 509 3.86 2.64 96.10 17 16 Bristol 506 3.72 2.69 96.00 18 18 Warwick NA 3.71 2.53 96.00 19 12 Sheffield 499 3.87 2.57 95.80 20 21 Nottingham 531 3.97 2.29 95.70 ES=Entry Standards; SS=Student Satisfaction; RA=Research Assessment; OS=Overall Score; Source: Market Source; SKBKS

7500 7400

Target and Intake of Medical and Dental Students-England
Target Intake

7300
7200 7100

in nos

7000 6900 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

Source: hefce; SKBKS

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PRODUCT ANALYSIS
PHARM.D. (DOCTOR OF PHARMACY) OVERVIEW The Doctor of Pharmacy program (Pharm.D.) educates and prepares graduates for practicing the profession of pharmacy in a variety of health care settings, including the community, medical institutions, health care facilities, and the pharmaceutical industry as well as for future graduate or professional study. The Pharm.D. curriculum, consisting of two years of pre-professional coursework followed by four years of professional school, is structured to develop higher levels of theoretical comprehension and professional skill required in this challenging profession. The program is designed to create independent thinkers and problem solvers who are knowledgeable in all aspects of drug therapy and who can communicate and counsel health care professionals and patients. Although to date there is not an exact reorganization of clinical pharmacy in India but it is sure that one has the greatest & the brightest career in US after clearing the North American Pharmacist Licensure Examination (NAPLEX) and maybe in future in India there will be a higher prospectus for the course. Eligibility criteria A pass in any of the following examinations  10+2 examination with Physics and Chemistry as compulsory subjects along with one of the following subjects Mathematics or Biology.  A pass in D.Pharm course from an institution approved by the Pharmacy Council of India.  Provided that a student should complete the age of 17 years on or before 31st December of the year of admission to the course. ENTRANCE EXAM: EAMCET Role of Pharm.D.: Pharm.D. is mainly hospital oriented, as it’s a compulsion that the colleges offering the course must have an adjoined hospital. Duration of the course: The duration of the course is six academic years (five years of study and one year of internship or residency) full time with each academic year spread over a period of not less than two hundred working days. The period of six years duration is divided into two phasesPhase 1 – Consisting of First, Second, Third, Fourth and Fifth academic year. Phase 2 – Consisting of internship or residency training during the sixth year involving posting in specialty units. It is a phase of training wherein a student is exposed to actual pharmacy practice or clinical pharmacy services and acquires skill under supervision so that he or she may become capable of functioning independently.

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Industry Observer-Education & Training
INDIAN SCENARIO In India, the course Pharm.D. was introduced in the academic year 2008-2009. The Pharmacy Council of India is the apex body controlling the course.

MAY -13

Share of Pharm.D. Colleges in different States in India
Tamilnadu Karnataka Kerala Maharashtra

Total 70 institutes are offering the others Andhra Pharm.D. course in India. The Pradesh institutes belong to the private sector except in the state of Maharashtra. The state of Maharashtra, courtesy the Government of Maharashtra has Source: Market Source; SKBKS been the forefront of reform in Pharmacy education. The innovative step and a lead role in starting the Pharm.D. course at Government Pharm.D. Colleges in India College of  A M Reddy Memorial College of Pharmacy, AP Pharmacy at  Acharya and B M Reddy College of Pharmacy, Karnataka Aurangabad and  JKK Nataraja College of Pharmacy, Tamil Nadu Amravati, reflects  Amrita School of Pharmacy, Kerala the proactive vision  Padmashree Dr D Y Patil College of Pharmacy, Maharashtra of Government of Maharashtra to render quality service to the health care sector for the community at large. In India D.Pharm (a 2 year course) Pharm.D. Total Colleges & Seats in India 2013 is the minimum qualification Seats 3900 required to be a registered Colleges 130 pharmacist in India. B.Pharm (a 4 Source: Pharmacy Council of India; SKBKS year course) is a prerequisite course that is offered in various Universities. Some universities also offer Pharm.D (6 years course), which includes B.Pharm material along with the Pharm.D. coursework. The Pharmacy Council of India permitted a few universities to start Pharm.D (post baccalaureate) (2 years + 1 full working year internship in a 300 bedded hospital) for B.Pharm graduates. The first batch of Pharm.D students will graduate by 2014. The government of Maharashtra has taken new innovative steps for increasing the interest of the students and starting the Pharm.D. course. Fee Structure: The fee structure prescribed for Pharm.D programme is as under. Details 1. Starting of Pharm.D programme (including fees for 2 inspections) to be submitted with the application 2. Yearwise approval and inspection fee 3. Approval under section 12 ( including fees for two inspections) 4. Verification of compliance if any 5. Annual affiliation fee after approval under section 12 Source: pci.nic.in; SKBKS Amount Rs2,00,000 Rs1,00,000 Rs2.00,000 Rs1,00,000 Rs 50,000

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Industry Observer-Education & Training
GLOBAL SCENARIO

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Global Pharm.D. Universities - 2013 Pharm.D. (Pharmacists) are higher  Western University of Health Sciences (CA) salaried professionals in the US and  Colorado, University of (CO) other foreign countries, where  Howard University (DC) pharmacists are allowed to practice  Nova Southeastern University (FL) clinical pharmacy. They have a  Purdue University (IN) statutory system in which patient is diagnosed by physicians or doctors (which are there exact responsible not to prescribe drugs) and then the patient sent ahead to pharmacist with diagnosis report. The pharmacist is allowed to prescribe the patient and normally who charge more than physicians. The average salary in USA is US$ 40-50 or more in the beginning. In the United States, the Pharm.D. Global Enrolled Students in Pharm.D. - 2012 (Doctor of Pharmacy) degree is a Seats 1260 graduate-level professional doctorate Colleges 11 degree that prepares the graduate for Source: AACP; SKBKS pharmacy practice, research, as well as teaching in higher education institutions. After completing the required prerequisites or obtaining a bachelor's degree, pharmacy school is another four years, which include at least one year of practical experience. Most schools require students to take an entrance test (PCAT) and complete 60-90 credit hours of university coursework in the sciences, mathematics, composition, and humanities before entry into a professional program. Many pharmacy students complete a bachelor's degree before entry to pharmacy school, and some schools, such as Ohio State University, require a bachelor's degree prior to matriculation into the 4 year doctorate (Pharm.D.) program. Countries offering Pharm.D. course Continent Country Kenya, Nigeria, Egypt Africa Bangladesh, India, Pakistan, Philippines, Thailand and South Korea South Asia Portugal, Czech Republic and Slovakia, France, Hungary, Italy, Europe Netherlands, Spain, UK, Greece, Denmark, Republic of Ireland. Iran, Jordan, Lebanon, Qatar, Saudi Arabia, United Arab Emirates. West Asia North America Canada, United States New Zeland Australia Source: Market Source; SKBKS OUTLOOK The present scenario of pharma world requires a mandatory 5 year degree course in pharmacy instead of conventional 4 year duration. This emphasizes the importance of giving time and stressing importance on each and every aspect of healthcare involved in the profession. It is important that pharmacy course of every country in the world to be in pace with the growing demands of global healthcare. The hurdle that has to be overcome is the equivalence of the course imparted in India to that with other nations or countries. The collective efforts of the policy maker, government, and governing body cannot be denied to

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Industry Observer-Education & Training
bridge the gap. A proactive step would surely build a healthy world and in a true sense globalization in education system. Pharmacists most commonly make interventions in diabetes management, and help patients achieve their individual goals. Pharmacists are able to see patients at shorter intervals, as they’re not limited by a panel of patients. Consequently, they help patients achieve their goals more quickly.

MAY -13 Career Options to Pharm.D. Students  Clinical Research  Pharmacovigilance  Research & Development  Medical Writing  Product Managers  Regulatory affairs  Correspondents & Trainers  Top level medical representatives  Academics  Community Pharmacy  Geriatric Pharmacy  Governmental agencies  Home Health Care  Hospital Pharmacy  Managed Care  Pharmacoeconomics

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Industry Observer-Education & Training

MAY -13

COMPANY ANALYSIS
TREE HOUSE EDUCATION & ACCESSORIES LTD OVER VIEW Tree House is one of the leading providers of educational services in India that also offers a wide variety of educational services to K-12 schools. They have schools under the brand name of 'Tree House' across 37 cities in India and operates the largest number of self-operated preschools in India. 240 preschools are managed by Tree House while 62 preschools are managed by franchisees. The company has been ranked amongst the 100 small businesses in the year 2010 in the annual survey conducted by the Franchising World. Tree House has been ranked among the Top 10 innovative companies in India according to magazine fastcompany.com. Their pre-schools are largely concentrated in the states of Maharashtra, Gujarat, Karnataka, Rajasthan and Andhra Pradesh. Management Name Designation Sanjaya Kulkarni Chairman Rajesh Bhatia MD Vishal Shah Executive Director Geeta Bhatia Non-Executive Director T.S. Sarangpani Independent Director Source: Company; SKBKS

BUSINESS STRATEGIES Focus on self-operated preschools. It primarily focuses on self-operated business model. It has 240 preschools based on this model. This model provides enhanced safety, hygiene, teaching methodologies and infrastructure. Imparting education through standardised and innovative methods. It standardised and comprehensive curriculum breaks down daily activities into small modules and maintain a healthy teacher student ratio of 1:14. Competent teachers, they initiate training programmes to enhance competence and familiarise them into new techniques of imparting education. Brand awareness, they have successfully established Tree House as a brand in the field of preschool education with innovative and technologically upgraded teaching aids. The brand awareness helps in attracting talent and enhances the enrolment at the preschools. Years 2012 2011 Key Milestones Received an investment of Rs189mn (Rs42mn from Matrix Partners India Investment Holdings, LLC, Rs14mn from FCVI India Venture (Mauritius) Ltd. and Rs133mn from ON Mauritius. Received an investment of Rs400mn (Rs310mn from FC VI India Venture (Mauritius) Ltd and Rs90mn from Matrix Partners India Investment Holdings, LLC) Ranked amongst the 100 small businesses in an annual survey conducted by franchising world A further investment of Rs150mn from Matrix Partners India Investment Holdings, LLC. Entered the K-12 segment. Started day care centres-’Muskaan’ Launched a teacher training programme Roped in Matrix Partners India Investment Holdings, LLC as investor (Rs350mn investment)

2010 2009 2008

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Industry Observer-Education & Training
PRODUCTS & SERVICES

MAY -13

The company provides a wide variety of educational services to K-12 schools which include, designing curriculum and providing teaching aids, supplying methods for imparting education, organizing extra-curricular activities for students and teacher training. Educational services offered to K-12 schools at the following locations Maharashtra, Gujarat and Rajasthan. COURSES OFFERED Name of the Course Age group Activities Playgroup: Children learn through play, developing the 1 ½ years to Playgroup is the 1st following skills: language, motor, social, emotional, 2 ½ years step in preschool. cognitive, aesthetic creative and value education. Primarily play-way with regular use of Montessori equipment. Children learn the following skills: Nursery: This is a 2 ½ years to language (writing and reading readiness), motor and smooth transition to 3 ½ years physical social cognitive – conceptual, mathematical, formal school sensory, general knowledge, aesthetic & creative skills and value education. Junior KG: Preparing Sight Reading: Writing upper case letters of the the child for reading, 3 ½ years to alphabet, writing number 1-10, number value, science writing and 4 ½ years experiment, social skills creative expression cognitive mathematics skills and language skills. A blend of play-way and Montessori to teach the Senior KG: Preparing for formal children English, Mathematics, Environmental 4 ½ to 5 ½ education, selfStudies, Value Education, World around Us, Hindi years dependence and (introduction), General Knowledge, Celebration of interpersonal skills festivals, and so on. This is a unique programme attended by toddlers as 7 months to well as their mothers. This programme is introduced Mother Toddler 18 months to provide maximum positive stimulation for mental, physical, emotional and social growth of a toddler. Tree House also offers activity classes at select centres. These are conducted and managed by professionals. Activities comprise dance (Western or Activity Class Indian or Classical) or Music or Art and Craft or Yoga or Karate, among others. Source: Company; SKBKS

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Industry Observer-Education & Training
FINANCIALS OF THE COMPANY Five Year Financial Summary (Rs in million) Items/Years FY12 FY11 FY10 FY09 810.88 411.52 218.71 106.47 Sales Revenue 458.89 188.39 75.15 24.50 PBIDT 65.03 12.51 5.76 0.42 Interest 393.86 175.88 69.39 24.08 PBDT 77.99 39.62 29.27 18.74 Depreciation 315.87 136.26 40.12 5.34 PBT 99.22 44.31 14.13 0.22 Tax 216.65 91.95 25.99 5.12 PAT Source: Zen Money; SKBKS Key Financial Ratios FY12 5.17 0.20 56.59 26.72 12.37 8.44

MAY -13

FY08 54.26 8.62 0.00 8.62 9.40 -0.78 1.13 -1.91

Ratio/Years Current Ratio Debt to Equity OPM (%) NPM (%) Return on Capital Employed (%) Return on Equity ( Net Worth) (%) Source: SKBKS

FY11 3.41 0.38 45.78 22.34 8.77 7.49

FY10 1.17 0.20 34.36 11.88 6.00 4.22

FY09 2.63 23.01 4.81 1.29 1.14

FY08 0.86 0.02 15.89 -3.52 -

Financial Performance (Rs in million) Items/Years OND11 OND12 % change FY11 226.90 303.70 411.52 Sales 33.85 124.00 639.80 188.39 PBIDT 16.80 11.80 12.51 Interest -29.76 107.20 628.00 175.88 PBDT 22.60 36.40 39.62 Depreciation 61.06 84.60 110.40 136.26 PBT 30.50 23.40 37.00 44.31 Tax 58.12 61.20 73.40 91.95 PAT 19.93 Source: Zen Money; SKBKS Yearly Performance Over the period of five years (FY08FY12), the company sales revenue has increased from Rs54.26mn to Rs810.88mn at a CAGR of 71.75%. Operating profit increased from Rs8.62mn to Rs458.89mn at a CAGR of 121.43%. PAT improved from loss of Rs1.91mn to profit of Rs216.65mn. OPM increased by 4070.51bps and NPM increased by 3023.80bps during the same period.
900

FY12 % change 810.88 97.05 458.89 65.03 393.86 77.99 96.85 315.87 99.22 216.65 -

Company Performance
Sales (LHS) OPM (RHS) NPM (RHS)

55

600

35

300

15

Rs .bn

0 FY08 FY09 FY10 FY11 FY12

Source: Zen Money; SKBKS
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%
-5

16

Industry Observer-Education & Training

MAY -13

Standalone Performance In FY12 net sales of the company increased by 97.05% from Rs411.52mn to Rs810.88mn. PAT increased by 135.62% from Rs91.95mn to Rs216.65mn. It continuously look for avenues for future growth in the education sector and is geared up to grab any opportunities available. During the year the company opened 130 preschools, and now operates in 37 cities in all over India. Quarterly Performance In OND 2012, net sales of the company increased by 33.85% from Rs226.90mn to Rs303.70mn. PAT increased by 19.93% from Rs61.20mn to Rs73.40mn. The operating performance of the company has shown better results. Overall the company has improved its performance. COST STRUCTURE ANALYSIS The company is able to manage its operating cost as percentage of net sales with increased in operations thus improving its profit margins. Cost Structure (as % of net sales) Items/Years FY12 FY11 FY10 FY09 0.89 0.90 1.05 2.19 Raw Material 6.36 6.72 7.37 15.34 Staff Cost Other Expenses 16.79 23.99 26.62 55.44 Interest Charges 8.42 3.19 2.69 0.41 10.10 10.10 13.69 18.26 Depreciation 12.85 11.29 6.61 0.21 Tax Source: Zen Money; SKBKS FY08 2.09 14.47 60.13 0.00 17.35 2.09

Over the period of five years (FY08FY12), the overall cost structure of the company has been declined by 4070.56bps. Direct expenses of the company have decreased by 5264.10bps while the indirect expense has increased by 1193.54bps during the same period.

Direct expenses were at 24.40% of net sales in FY12 against 31.60% in FY11. When compared to FY11, raw material cost as percentage of net sales, decreased by 0.73bps in FY12 and stood at Rs14.41mn. Employee cost as percentage of net sales decreased by 35.35bps and stood at Rs96.24mn. Other expenses stood at Rs190.15mn and declined by 719.77bps as percentage of sales in FY12.

Cost Structure as % of Net Sales
25 FY12 FY11

10

-5
Raw Material Staff Cost Other Expenses Interest Charges Depreciation Tax

Source: Zen Money; SKBKS Indirect expenses of the company as a percentage of net sales were at 31.37% in FY12 against 24.58% in FY11. Tax charges as percentage of sales increased by 155.80bps, depreciation increased by 0.37bps and interest expenses increased by 523.42bps in FY12 compared to FY11.
17

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Industry Observer-Education & Training
MARKET INDICATORS

MAY -13 Stock Statistics Market Cap FY13(Rs in mn) 8295.91 10.00 Dividend (%) 9.27 EPS 27.40 P/E 81.18 Book Value (Rs) 10.00 Face Value (Rs) Source: BSE India; SKBKS

Company Score Card: During the period under consideration, the Sensex increased by 3285.65 points from 16218.53 in May’12 to 19504.18 in April’13. The market cap of the company which was Rs7319.39mn in May’12 increased to Rs9594.34mn in Apr’13. For the year ended FY12 the market cap of the company stood at Rs9549.38mn. The company share price has registered a high Rs266.75 in Apr’13 and a low of Rs203.5 in May’12. The relative market cap stood at 131.08 in Apr’13 against 113.34 in previous month showing an increase of 1773.96bps. Major stakes of 60% are in the hands of non-instituitons followed by promoters and then institutions. Dividend: The Board of Directors had declared an equity shares of Rs10 each.
Share Holding Pattern (as on March 2013)
Non Instituti ons Instituti ons Promote rs

135

Relative Performance- Mar' 2013

120

105

BSE Sensex Tree House

90

Jun-12

Jul-12

May-12

Mar-13

Dec-12

Oct-12

Jan-13

Sep-12

Feb-13

Aug-12

Source: BSE India; SKBKS COMPETITORS The peer competitors of Tree House Education & Accessories Ltd in the Education Industry are Zee Learn Ltd, NIIT Ltd, Core Education and Educomp Solutions Ltd. When the sales of the company are compared Educomp Solutions Ltd is the top performer with sales revenue of Rs10765.12mn, followed by Core Education at Rs8783.88mn and then NIIT Ltd at Rs7381.3mn.

Peer Comparison (% of net sales) Core Education 2.27 49.06 7.87 40.79 11.62 4.82 5.37 21.41 Zee Learn Items Educomp 43.51 16.43 9.72 30.34 8.38 4.40 5.16 17.55
18

Raw material cost was highest for Educomp Solutions Ltd at 43.51%, followed by Zee Learn Ltd at 23.28% and then NIIT Ltd at 18.20%. Other expenses was highest for Zee Learn Ltd, followed by NIIT Ltd and then
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0.89 23.28 18.20 Raw Material 6.36 41.25 24.15 Staff Cost 16.79 66.07 23.41 Other Expenses 59.43 -30.60 34.24 Operating Profit 5.78 2.95 Financial Expenses 8.42 10.10 4.95 9.27 Depreciation 12.85 0.28 2.45 Tax Charges 28.06 -45.21 13.04 PAT Source: Company; SKBKS

NIIT Ltd

Tree House

Nov-12

Apr-13

Industry Observer-Education & Training

MAY -13

Tree House Education & Accessories Ltd. Employee cost as percentage of sales was highest for Core Education at 49.06%, followed by Zee Learn Ltd and then NIIT Ltd. Operating profit margins were 12,000 Peer Sales-FY2012 highest for Tree House Education & Accessories Ltd at 59.43% followed 8,000 by Core Education at 40.79% and then NIIT Ltd at 34.24%. Financial expenses were highest for Core 4,000 Education at 11.62%, followed by Tree House Education & Accessories 0 Ltd at 8.42% and then Educomp Solutions Ltd at 8.38%. Depreciation charges were highest for Tree House Education & Accessories Ltd at 10.10% followed by NIIT Ltd at 9.27% and then Zee Learn Ltd at Source: BSE India; SKBKS 4.95%. Net profit margins were highest for Tree House Education Accessories Ltd at 28.06% followed by Core Education at 21.41% and then Educomp Solutions Ltd at 17.55%.
Tree House Core Education Zee Learn

SWOT ANALYSIS Strengths India’s largest chain of self-owned preschools. This business model helps in introducing new teaching methodologies and better infrastructure facilities. Opportunities Use of latest technological aids for education Internationalization of activities, especially regionally, including recruitment of international students. FUTURE PERFORMANCE India has the third largest education system globally, after China and the US, with one million schools and 18,000 higher education institutions. With a population of approximately 540 million in the 0-24 age bracket, it is also the largest education market globally. India’s largest services market, the Indian education sector comprises more than 450 million students. The landscape is primarily dominated by central and state government funded and managed institutions with 80% of all schools being government schools. The government spending on education will be increased to US$100bn in the 12th Five Year Plan (2012-17). K-12 is the most regulated segment of India’s education sector. While the size of spend in this sector is around US$75bn per year, the predominant part of this comprises public spend. The estimated revenues for private players in the K-12 segment is US$20bn in 2015.
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Weaknesses Local resources in new markets.

Threats Excessive competition Shortage of competent faculties Entrance of Foreign Universities in India

Educomp

Rs mn

NIIT Ltd

19

Industry Observer-Education & Training

MAY -13

According to the Grant Thornton report, Education in India: Securing the demographic dividend, primary and secondary education, or the K-12 sector, is expected to reach US$50bn in 2015. Consulting firm Technopak is also very bullish about the growth of the education sector and estimates that private education sector itself would grow to US$70bn by 2013 and US$115bn by 2018. Technopak sees enrollments in the K-12 level growing to 351 million, requiring an additional 34 million seats by 2018. Further, according to the report 40 Million by 2020: Preparing for a New Paradigm in Indian Higher Education by Ernst & Young, the higher education sector in India is expected to witness a growth of 18% per annum until 2020. Estimates (Rs in mn) Items/Years FY08 FY09 FY10 FY11 54.26 106.47 218.71 411.52 Sales -1.91 5.12 25.99 91.95 Earnings *Estimated; Source: BSE India; SKBKS FY12 810.88 216.65 FY13* 850.69 230.52 FY14* 890.89 240.88

Therefore the company is expected to grow at a CAGR of 32.43% to Rs890.89mn over the period FY11-FY15. Earnings are expected to improve at a CAGR of 56.10% to Rs240.88mn over the same period.

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Industry Observer-Education & Training

MAY -13

MARKET INDICATORS
MARKET MOVEMENT OF MAJOR PLAYERS

105 95 85 75

Relative Performance

BSE Sensex Aptech Edserve

26/03/13

01/04/13

10/04/13

12/04/13
12/04/13

18/03/13

19/03/13

20/03/13

21/03/13

22/03/13

25/03/13

28/03/13

02/04/13

03/04/13

04/04/13

05/04/13

08/04/13

09/04/13

11/04/13

100 90 80 70

Relative Performance

BSE Sensex Educomp solution

18/03/13

19/03/13

20/03/13

21/03/13

22/03/13

25/03/13

26/03/13

28/03/13

01/04/13

02/04/13

03/04/13

04/04/13

05/04/13

08/04/13

09/04/13

10/04/13

11/04/13

110 100 90 80

BSE Sensex Everonn Education NIIT

Relative Performance

18/03/13

19/03/13

20/03/13

21/03/13

22/03/13

25/03/13

28/03/13

02/04/13

03/04/13

04/04/13

05/04/13

08/04/13

09/04/13

11/04/13

Source: BSE India; SKBKS

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15/04/13

26/03/13

01/04/13

10/04/13

12/04/13

15/04/13

15/04/13

Industry Observer-Education & Training
I week (16th 22nd Mar to Mar ) II week (23rd 29th Mar to Mar) III week ((30th 5th Mar to Apr)

MAY -13
IV week (6th Apr to 15th Apr)

Sensex was down by 2.9% to 18,735.60 points due to the political worries caused by DMK’s decision to withdraw support to the congress led UPA government at the center. The market fell in each of the five trading sessions in the week end.

NIIT

Sensex ended in green with an increase of 154 points to 18,835. Key benchmark indices edged higher boosted by buying of Indian stocks by foreign funds. Indian stocks gained in two of three trading sessions in the truncated week ended. There was a 9.05% In the second week decrease in the share the share value price. increased by 0.73%. Scrip declined 19.33%. by During the week share price decreased by 2.26% from Rs64.20 to Rs62.75. Share price slipped Share price fell by 16.82% during down by 3.49%. the period.

Sensex contrasted by 414 points and ended at 18,450 points. Key benchmark indices edged lower after a private survey showed growth in the services sector hit 17-month low in March 2013. Market declined in three of five trading sessions in the week. During the week scrip rose by 3.07% from Rs22.80 to Rs23.50. Scrip slipped 6.70%.

Selling by FII during the week spoiled investor’s sentiments, which shown effect on BSE Sensex and it declined by 0.4% to 18,357 points during the week. Political uncertainty in India also spooked investors.

BSE Sensex

In the fourth week index declined by 0.21%.

Educomp Solution

by Scrip fell down by 5.32% from Rs60.10 to Rs56.90.

Everonn Education

In the third week Share price further scrip rose by 0.25%. declined by 10.78% from Rs60.30 to Rs53.80.

Edserve Aptech

Scrip fell down by During the week In the third week Scrip declined by 16% from Rs6.25 to scrip rose by 0.20%. scrip decreased by 1.21%. Rs5.25. 1.74%. Share price further Share price Scrip declined by In the fourth week, decreased by 5.94%. decreased by 0.82%. 2.85%. share price increased by 2.47% from Rs44.55 to Rs45.65.

Source: BSE India; SKBKS

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Industry Observer-Education & Training

MAY -13

UPCOMING EVENTS AND CONFERENCES
1. Event Date Venue Highlights Contact Details Event Date Venue Highlights Education Week Convention & Learning Expo 04 – 06, July 2013 Sandton Convention Centre, Johannesburg, South Africa It will bring together over 2,000 education stakeholders from teachers, principals, lecturers, researchers, academics, and policy makers to discuss solutions, new ideas and share hands on real life practical experience through workshops, debates, panel discussions and one on one meetings. Mr. Claire Oconnell, Clarion Events Ltd, Earls Court Exhibition Centre London, UK; Tel: +(44)-(020)-73708200 Educational Infrastructure & Utilities Expo 07 – 08, August 2013 Nehru Centre, Mumbai, India Genre as educational sector is the most developing and high lucrative field and ample success is sure to achieve by the participants as well as by the purchasers. Products, services and equipments related to the learning sector are displayed. Event Manager, Noble Events & Entertainment, No. 11 B, Krishnamai Society, Sir Pochkhanwala Road, Worli, Mumbai, Maharashtra, India; Tel: +(91)-(22)-24933699; Mob: +91-9327144555 Exploring the Value of Higher Education to the Economy 11 – 13, July 2013 University of Auckland Business School, Auckland, New Zealand It will address key issues relating to the future of international higher education: designing academics and universities for the future, developing tools to meet new challenges, and delivering, recognising and measuring growth, impact and success. The Event manager, The Association of Commonwealth Universities, London, UK;Tel: +44 (0)20 7380 6700; Fax: +44 (0)20 7387 2655 Intl. Academic Conference - IISES Prague Conference 1 - 4, September 2013 Prague, Czech Republic Its is to faciliate communication and open discussion between scholars, researchers and practitioners interested in social and economic sciences. The Secretary, IISES; US: 2962 N Gresham Ave, Chicago, IL, USA; E-mail: [email protected]; Tel: +420 602 393 619 Southern Netherlands Education Fair 27 – 28, September 2013 Beursgebouw, Eindhoven, The Netherlands It will be exhibited by the experts and scholars on different fields of educations who will provide special full time or part time trainings on different occupations. There will also be various universities and colleges presenting their course offerings. Mr. Saskia Holterman, Organisatie Groep Zuid bv, Geldrop, NoordBrabant, The Netherlands; Tel: +31-40-2979494; Fax: +31-40-979495

2.

Contact Details 3. Event Date Venue Highlights Contact Details Event Date Venue Highlights Contact Details Event Date Venue Highlights Contact Details

4.

5.

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Industry Observer-Education & Training

MAY -13

6.

Event Date Venue Highlights Contact Details Event Date Venue Highlights Contact Details Event Date Venue Highlights Contact Details

7.

8.

9.

Event Date Venue Highlights Contact Details Event Date Venue Highlights Contact Details

10.

Education & Career 04 – 06, October 2013 Baku Expo Center, Baku, Azerbaijan Profile for exhibit include secondary and higher education, education abroad, additional professional education, recruitment, job offers and exchange programs abroad, recruitment companies, intercultural exchange programs for students and youth etc. Ms. Hamida Hajiyeva, Iteca Caspian, LLC, Hasan Aliyev Str., Baku, Azerbaijan; Tel: +(994)-(12)-4041000; Fax: +(994)-(12)-4041001 International Education Fair in Russia – Moscow 05 - 05 October 2013 Radisson SAS Slavyanskaya Hotel Moscow, Russia Education NGOs, Universities, IT Training Providers, Colleges, Business Schools, Students Finance Services, Executive and Entrepreneurial Education Institutes, E-learning and Distance Learning Specialists, Recruitment Consultants, Visa Information Services will be participating in the exhibition. Event Manager, Studycentral Limited, Julian's Friar, Shrewsbury, England, UK; Tel: +(44)-(17430)-355580; Fax: +(44)-(1686)-626669 China Education Expo-Beijing 02 – 03, November 2013 China National Convention Center (CNCC), Beijing, China Exhibitors include recognized colleges, universities and schools, shortterm training courses providers, Sino-foreign joint-venture schools or programs, education organizations and associations. Mr. Harden Dang, Fairlink Exhibition Services Ltd, Soho New Town, No.88 Jianguo, Chaoyang, Beijing, China; Tel: +(86)-(10)-85800790; Fax: +(86)-(10)-85800786 Career Fair Aachen 02 – 04, December 2013 Aachen Bendplatz, Aachen, Germany It is meant to discover various prospective opening for recruitment or employment processes while introducing highly developed market tendency and innovative technologies alongside special business policies that are essential for future industrial growth and expansion. Event Manager, Bonding Studenteninitiative E.V., Kaiserslautern, Germany; Tel: Tel: +49-241-403352; Fax: +49-241-37475 Learning & Teaching Expo 12 – 14, December 2013 Hong Kong Convention & Exhibition Centre, Hong Kong, China Expo will exhibit the latest products and services including advanced learning technology and solutions, game-based learning solutions, latest science and laboratory equipments and contemporary sports equipments. Ms. Jessica Poon, Diversified Events Hong Kong, LLC Hong Kong, China; Tel: +852-3-1053993 ; Fax: +852-3-1053974

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