by Ganesh Sahathevan
The HK listed Top Education Group Ltd's share price fell to a new low of HK0.147, below the HK 0.15 barrier, on 2 September 2021. It's market capitalisation also collapsed to a new low of HK 385.02 Million.
As reported previously the company's IPO relied heavily for its promotion on approvals provided by Australia's Tertiary Education Quality and Standards Agency (TEQSA). It's share price and market capitalisation have been in a state of collapse almost since it's listing.
TEQSA's reputation in Hong Kong, and in Asia, is linked to Top's fortunes. TEQSA chose, if not did not object to being featured in Top's IPO Prospectus. ,Then TEQSA continued TO support Top's education business, despite the political scandal that engulfed Top's former CEO and Principal of its colleges, Zhu Minshen.
TEQSA has shown itself to be an unreliable regulator.
TO BE READ WITH
Tuesday, September 17, 2019
TEQSA's Nicholas Saunders granted Zhu Minshen's Top Group self accreditation rights despite Zhu granting academic credits for defying an AFP directive
by Ganesh Sahathevan
Professor Nick Saunders AO (Chief Commissioner)
Australia's education sector putting money ahead of standards :
The following is an excerpt from Zhu Minshen's Top Education Group Ltd's ANNOUNCEMENT OF ANNUAL RESULTSFOR THE YEAR ENDED 30 JUNE 2018
Receive Self-Accreditation Authority
The Company received a letter from TEQSA on 16 May 2018 in relation to its approval for partial self accreditation authority (‘‘SAA’’) in the broad field of education of Management and Commerce, as classified by the Australian Standard Classification of Education, which covers the Australian Qualification Framework from level 5 (diploma) to level 9 (master’s degree) Management and Commerce courses offered at TOP. By obtaining the SAA, TOP is able to determine by itself whether its Management and Commerce courses adequately comply with regulatory standards rather than applying through TEQSA. While maintaining high quality of the courses, the time required for course accreditation will hence be significantly reduced. Accordingly, the partial SAA status not only allows TOP to more efficiently respond to market demand in coursework, but also constitutes a necessary step towards eventually achieving university specialization status.
Following the approval of partial SAA status, TOP enjoys the SAA status with 11 other non-university higher education providers, and has become one of the three non-university higher education providers with the SAA status that offer Management and Commerce higher education courses, and is the only non-university for-profit higher education provider offering courses in Management and Commerce.
TEQSA, headed by its Chief Commissioner Nicholas Saunders granted SAA privileges despite Zhu and Top's history of highly irregular assessment. As reported on this blog recently:
In his 2018 book "Silent Invasion" Professor Clive Hamilton reports that Top Education Group's Zhu Minshen organised students , including students from his Top Education Institute to protest against Tibetans at the 2008 rally , which counted towards the Top students’ assessment. Zhu’s Top Institution is “perhaps the only accredited degree program in Australia that counts agitating for a foreign power towards its qualifications.”END
SEE ALSO
Professor Nick Saunders AO (Chief Commissioner)
Australia's education sector putting money ahead of standards :
The following is an excerpt from Zhu Minshen's Top Education Group Ltd's ANNOUNCEMENT OF ANNUAL RESULTSFOR THE YEAR ENDED 30 JUNE 2018
Receive Self-Accreditation Authority
The Company received a letter from TEQSA on 16 May 2018 in relation to its approval for partial self accreditation authority (‘‘SAA’’) in the broad field of education of Management and Commerce, as classified by the Australian Standard Classification of Education, which covers the Australian Qualification Framework from level 5 (diploma) to level 9 (master’s degree) Management and Commerce courses offered at TOP. By obtaining the SAA, TOP is able to determine by itself whether its Management and Commerce courses adequately comply with regulatory standards rather than applying through TEQSA. While maintaining high quality of the courses, the time required for course accreditation will hence be significantly reduced. Accordingly, the partial SAA status not only allows TOP to more efficiently respond to market demand in coursework, but also constitutes a necessary step towards eventually achieving university specialization status.
Following the approval of partial SAA status, TOP enjoys the SAA status with 11 other non-university higher education providers, and has become one of the three non-university higher education providers with the SAA status that offer Management and Commerce higher education courses, and is the only non-university for-profit higher education provider offering courses in Management and Commerce.
TEQSA, headed by its Chief Commissioner Nicholas Saunders granted SAA privileges despite Zhu and Top's history of highly irregular assessment. As reported on this blog recently:
In his 2018 book "Silent Invasion" Professor Clive Hamilton reports that Top Education Group's Zhu Minshen organised students , including students from his Top Education Institute to protest against Tibetans at the 2008 rally , which counted towards the Top students’ assessment. Zhu’s Top Institution is “perhaps the only accredited degree program in Australia that counts agitating for a foreign power towards its qualifications.”END
SEE ALSO
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