Page 29 - Annual Report 2021

• Switching from conventional
marketing to digital marketing and
fairs.
• Cancellation of student activities and
graduation ceremony.
• Suspension of travelling and
university seminars and activities.

total student
population new student
as at end - enrolment for
2021: 1,480 2021: 498

Prospects
IUMW remains cautious for the
2022 financial year. To sustain its
of I-WELD, Bachelor of Science In light of these extenuating business agility and resilience, IUMW
(Honours) Psychology circumstances and backed by will continue to prioritise cost and
extensive research and analysis into operational efficiency while balancing
Kirstie Wong Chee Ching, Gold the economic and education sector these with the delivery of a high-
Medalist and Recipient of the Best outlook, IUMW revised its annual quality and satisfying education and
Video and Merit of Achievement recruitment downwards to 750 from learning experience.
Awards at the Virtual Innovation 900 students while conducting
Competition 2021, Bachelor of Science aggressive marketing and promotion As it moves forward, IUMW remains
Biotechnology initiatives. Nevertheless, new student committed to pursuing growth and
enrolment for 2021 fell short of the delivering satisfactory outcomes
Muhammad Faruq Irfan Bin Jalaludin, target, with a total of 498 new students for all its stakeholders. Among its
Corporate Client Analyst, American enrolled. This adversely impacted future strategies are to expand into
Express, Bachelor of Professional revenue as student enrolment the market for post-graduate and
Communication contributes over 90% to revenue. executive programmes to tap buoyant
demand from mature students,
Year in review To mitigate this and ensure healthy part-time students and working
The pandemic landscape and impacts cashflow and business continuity, professionals. IUMW is also exploring
posed numerous challenges in 2021 IUMW adopted a series of cost the potential of delivering training
for the private higher education sector, containment measures and was and certification programmes that
which saw an average contraction of successful in requesting a rental ride on current micro- credentialing
40-50% in student enrolment for reduction from its landlord. These and badging trends. Finally, IUMW
both undergraduate and postgraduate measures included curtailment of will also look into expanding the
courses. IUMW was similarly affected budgeted expenditure, namely: IUMW education ecosystem by
by the pandemic measures including establishing primary and secondary
the nation-wide movement control • Slowing of hiring activities only for private international schools that can
orders and the closure of national replacement and phasing out part- eventually act as feeders for IUMW
borders which affected student time employees. itself, thereby strengthening IUMW’s
recruitment and the delivery of our • Reduction of international marketing stability and future sustainability of
educational services. activities. the Group’s Education Division.

Annual Report 2021 29