Previously on 26 August 2021, the Group has entered into a Memorandum of Understanding ("MOU") with the Ministry of Higher and Secondary-Specialized Education ("MHSSE") of the Republic of Uzbekistan ("Uzbekistan") that encompass various joint ventures, collaborations and key deliverables in relation to AUU. As such, the Company has announced that its subsidiary, ZioNext Pte. Ltd., will develop and implement the next generation ubiquitous learning platform for AUU.
Under the MOU, Alpha and MHSSE will also establish a joint venture with the primary purpose of establishing and managing the AUU, a next generation University that will be fully integrated with the ubiquitous learning platform developed by Alpha DX's subsidiaries.
PPPs are widespread in both developing and developed countries and governments often see PPPs as a way of improving quality, access or cost-effectiveness in their education system.
Subsequent to entry of the MOU, further discussions have been undertaken, and the joint venture is expected to be funded with USD$50 million by the joint venture partners and it will primarily be channelled towards the development and growth of AUU. Moving ahead, the scope of the joint venture may be expanded to include the transformation of the entire public education system of Uzbekistan. The establishment of the joint venture and its terms are subject to the entry into binding agreements.
Scheduled to open in the 3rd quarter of 2022, AUU will have two campuses in Uzbekistan with the main campus located in Tashkent, the capital city of Uzbekistan, and the second campus located in Andijan, the administrative, economic, and cultural center of Andijan Region.
The Company will provide timely updates to shareholders as each contract is being finalised and executed.
With a strategic focus on integrating wide range of digital technology in education and businesses through strategic collaborations and partnerships, Alpha DX aims to transform learning and education to a fully personalised and ubiquitous learning experience for all learners across the world.
Formerly known as Alpha Energy Holdings Limited, the Group has transformed itself in January 2021 with fund raising and restructuring initiatives under the leadership of technology and financial veterans in the learning and education industry.
Alpha DX's CEO, Mr. Daiji Yamada, said, "The sheer scale to continuously improve the quality of education justifies the need for public-private partnership. Many verticals within the education industry have been disrupted by the pandemic and in fact, we are operating in a market that is growing at a dramatic rate. As such, we are well positioned to harness the opportunities with our growing track record and capabilities.
"This PPP joint venture with the Republic of Uzbekistan is a corporate milestone for Alpha DX and it fits well with our growth strategy, enabling us to further expand our technological and intellectual resources in the global digital Learning industry. We expect the joint venture to help facilitate the development of our existing pipeline of project opportunities and prospective projects for further diversification and growth."
About Alpha DX Group Limited
(Bloomberg: ALEN:SP / Reuters: ALPH.SI/ SGX Stock Code: VVL)
Listed on the Singapore Stock Exchange, Alpha DX Group Limited ("Alpha DX") is one of the region's leading learning solution companies.
Led by the veterans in Technology, Education, Corporate Training and Business consultancy in both the Board of Directors and the management team, Alpha DX provides next generation Expanded Reality (XR)* integrated solutions in learning and education market that enable our customers to create engaging, fully immersive, super enhanced learning and training experiences of the future -- next generation educational Institutions, multi-dimensional learning design methodologies, digital content conversion and creation platform, ubiquitous learning super platform and systems with the relevant technologies -- all under one roof.
With a strategic focus on integrating XR technologies to create a personalised and digitaly enhanced learning experience, Alpha DX aims to offer new value propositions, with its integrated ubiquitous learning solutions, to serve both today's and the future needs of diverse learners across all genders, ages, cultures and purposes.
For more information, please visit www.alpha-dx.com.sg
Issued on behalf of Alpha DX Group Limited. by 8PR Asia Pte Ltd.
Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
This press release has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.
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source https://www.acnnewswire.com/press-release/english/69264/