MISC Annual Report 2018

MARKET REVIEW The ongoing downturn in the shipping industry continued to impact student enrolments for cadetship programmes, related modular courses and corporate development programmes in 2018, as training budgets were reduced by several companies. KEY DEVELOPMENTS 2018 Despite 2018 being a challenging year, we continued to build on our success and secured 40 new corporate and institutional customers and strengthened our international market presence with courses conducted for PT Salam Pacific Indonesia Lines, the Royal Yacht of Oman and the Ministry of Public Works Timor Leste. In addition, we also made our first foray into the cruise industry with our appointment as Standards of Training, Certification and Watchkeeping (STCW) training provider for Costa Cruise Lines. In recognising ALAM’s contribution to the maritime industry, the National Higher Education Fund Corporation/ Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) has agreed to provide financial assistance of up to 100% in course fees for 200 students. Subsequently, a note of understanding has been signed with the Malaysia Shipowners’ Association (MASA) to assist these PTPTN funded students in getting employment from industry players. During the year in review, ALAM successfully obtained Malaysian Skills Certificate/ Sijil Kemahiran Malaysia (SKM) from the Department of Skills Development for its Deck and Engine Ratings Programmes. The above enables the rating programmes candidates to apply for financial assistance from the Skills Development Fund Corporation/ Perbadanan Tabung Pendidikan Kemahiran (PTPK). Ratings who undergo this program have the option of seeking employment with shipping companies or shore-based maritime related companies. ALAM further enhanced its course offering by successfully securing approval from the Ministry of Education to conduct Advanced Diploma programmes in Nautical Studies and Marine Engineering. ALAM also received BeSS (Bersih, Selamat dan Sihat) certification from the Ministry of Health, Malaysia and was the first private higher institution in Melaka to do so. In our effort to strive for education excellence and develop the best industry relevant curriculum, ALAM hosted exchange programs with Nantong Maritime Institute and Jiangsu Maritime Institute, China. This program involved the participation of 69 students. In support of MISC Group’s innovative sustainability agenda in implementing LNG dual fuel propulsion systems, ALAM has collaborated with Eaglestar in coordinating a structured multi-skilling program for deck and MOVING FORWARD The maritime education and training sector continues to be challenging, therefore ALAM is actively marketing its courses internationally targeting countries such as Singapore, China and Oman. At the same time, ALAM is also strengthening collaborations with Indonesia and Timor Leste focusing on consultancy projects and maritime courses. Looking ahead, ALAM is working on upgrading itself to be on par with other established tertiary education institutions including lining up various academic paths enabling seafarers and shore maritime professionals to further pursue their academic qualifications. MANAGEMENT DISCUSSION & ANALYSIS MARITIME EDUCATION & TRAINING engineer officers to acquire skills and certification for operating both LNG vessels and product tankers. The year saw a total of 170 Deck Officers and Marine Engineers and 30 Ratings graduated from ALAM at its 118th Convocation. They joined the ranks of more than 13,000 seafarers who have been trained at ALAM since inception and are now serving various shipping companies. HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 127 MISC BERHAD ANNUAL REPORT 2018 126