Skillful Craftsman Education Technology Limited ("the Company" or "Skillful Craftsman") (NASDAQ:EDTK), an education technology company providing interactive online learning services, today announced the establishment of a wholly-owned subsidiary in Singapore, LE FIRST SKILLAND PTE. LTD. ("LFS"), to facilitate the Company's global business development of vocational education.
Â
Through the establishment of LFS, the Company expects to integrate Singapore's vocational skills standards into the development of skilled workers in vast labor-intensive countries, to meet the urgent demand for skilled workers in developed countries with aging populations. Meanwhile, LFS is also expected to advance vocational education and increase the income of people in underdeveloped areas, thereby fulfilling the Company's mission to promote social development.
Mr. Bill Fu, Co-CEO of Skillful Craftsman, commented, "Our strategy for the next few years is to become an influential vocational training and service platform in the Asia-Pacific region. Singapore is one of the most developed economies in the region and where Chinese and Western civilizations converge. The Company chose to establish LFS in Singapore as the Company's operation center for global business development. The Company decided to prioritize the training of professional nursing staff after consulting with business partners in Singapore. Singapore currently needs to bring in 2,000 professional nurses annually, along with more elderly care and home care workers. The closed loop of nursing professional education, job dispatch and life services is expected to generate substantial revenue for the Company. Additionally, developed countries in the Asia-Pacific region and the Middle East are also facing a significant shortage of nursing staff, creating a promising market. We plan to achieve the standardization of professional skills training, the systemization of talent cycle management and the humanization of life services for talents in the future. We believe that the establishment of LFS will enable Skillful Craftsman to gain a real foothold in the global vocational education market, strengthen the brand recognition and ultimately create long-term value for investors."