SIS school

completed

The Singapore International School (“SIS” or “the group”) currently operates 8 schools in Indonesia serving over 2,800 students. All schools use the SIS curriculum which is based on the Singapore education system, but specially designed for foreign and Indonesian students. The first SIS school was established in Indonesia in 1996 in South Jakarta and the following 6 were opened during 2003 – 2011 in other cities across Indonesia (cities such as Medan, Semarang and Cilegon). Seeking to go even further, in 2012 the Group opened its pilot “Tier B” school in Palembang (in Sumatra). Currently this is a Kindergarten to Grade 6 school. After three years of operations the school has 167 students, which is expected to increase to 450 as the children grow and the higher age groups are filled. Secondary education is expected to commence at the Palembang school from academic year 2016/2017.The group now wants to expand their footprints, including replicating the Palembang pilot project, by opening 3-5 more schools in the next 5-7 years in more locations (for example cities such as Manado, Makassar in Sulawesi, Banjarmasin in Kalimantan, Pontianak, Jambi, in Sumatra) still to be defined. These will all be aimed at local students and local teachers.IFC is considering an investment, in the form of a corporate loan of up to US$20 million, in the group to support its expansion program in Indonesia. The proposed project will include: (i) building of 3 more schools; (ii) building of a new school wing in Medan; (iii) developing top floor of Palembang school which will house the secondary school; (iv) upgrade and minor refurbishment of existing facilities (laboratories, sport facilities, performance areas) in SIS schools, and (v) improvement of group information systems.Typically SIS schools are built on owned or leased land plots. SIS buildings are multi-level (two – four storey) facilities with 5,000 square meters average total building area. The student body ranges in size from 50 through 700 per school. SIS doesn’t provide any accommodation for students and dormitories are not planned to be built. Each school is equipped with a canteen operated by external contractor, none of canteens is equipped for cooking since all meals are transported to the schools on a daily basis. Some schools offer transportation services for students which are typically provided by external transportation companies.