Crestar plans more centres

CHENGDU: Even when the going gets tough amid the global financial crisis, parents in China are not about to save on their children's education.

Despite the economic downturn, Singapore-based Crestar Education Group is on target to open at least six new preschools across China next year.

The group yesterday opened the ELFA preschool in Chengdu - its first in Sichuan. Minister in the Prime Minister's Office Lim Swee Say and Minister of State for Defence Koo Tsai Kee officiated at the opening. The school had served as a temporary shelter for victims of the May 12 Sichuan earthquake.

'The financial slowdown has not affected our plans in China. In fact, we are on target,' said Crestar's managing director Kwan Peck Leng.

'For next year, we have planned for 10 new centres; we have already confirmed six to seven, anything more will be a bonus,' she told The Straits Times.

Crestar, which already has 30 centres in 18 cities in China, first set up shop in Suzhou in 1995. Overall, it has a network of more than 100 centres - preschools and Childcare centres - in five countries, namely China, Singapore, Malaysia, Indonesia and Bangladesh.

Expressing confidence in the Chinese market, Ms Kwan said: 'The Chinese have high regard for education for children. They would rather tighten their belts on other things than compromise on the children's education.'

While no comprehensive figure exists to illustrate how big this potential market is, surveys in many Chinese cities have shown education fees to be among the top expenditure items of numerous families.

Crestar charges an average of 1,200 yuan (S$264) a month and Chinese professionals, businessmen and government servants form the bulk of its clientele.