New Box Hill Institute Trade Training Centre

The new Centre will be opening soon

Construction is nearing completion on Box Hill Institute’s Integrated Centre for Sustainable Construction Technologies (ICSCT), located at the Lilydale Lakeside campus. The ICSCT will deliver industry-current apprenticeship training in automotive, timber, electrical and plumbing trades, providing the Yarra Ranges with a range of training opportunities in sustainable construction practices and current technologies. Innovative training will focus on sustainability, and address future skills shortages and employability. Automotive will have its own dedicated area in the centre and will initially offer Certificate II preapprentice courses and secondary school based automotive vocational preparation programs. Training in prefabricated timber construction and cross laminated timber (CLT) will be delivered in an adaptable classroom layout with open areas between plumbing, electrical and carpentry, and significant indoor and outdoor workspaces to enable off-site and on-site construction activities, which are integral to the success of the model. Box Hill Institute has a long history of delivering top quality trades training, strengthened by trusted partnerships with industry and employers. The new purpose-built facility will address key gaps in the training available in Melbourne’s outer east and meet the region’s growing demand for skilled workers. Current demand for trades training in Melbourne’s outer east, particularly in automotive, sustainable construction and new energy technology sectors, exceeds supply. The Lilydale Lakeside Campus provides considerable new opportunities and pathways for students to engage with higher education and employment. Its Yarra Ranges Tech School engages students from local secondary schools in high tech responses to real world problems, focusing on STEM subjects. In 2018, approximately 2,500 students worked on programs incorporating design automation, robotics and 3D printing; exploring possibilities for future workers. Box Hill Institute’s new training centre will allow for the expansion of its successful Automotive Employment Pathway Program to Melbourne’s outer east. The program provides participating employers priority access to recruit students completing a Certificate II automotive pre apprenticeship program, who are job ready and keen to obtain an automotive apprenticeship. The ICSCT is expected to be completed in May 2021.

For any enquiries on the new training centre or taking on a new automotive apprentice, please call Mark Liberto or Roger Phillips on 03 9286 9623 or email automotiveprograms@boxhill.edu.au

BAPCOR ANNOUNCES EXPANSION IN ASIA

An agreement to acquire equity in Tye Soon Limited has been announced

BAPCOR Ltd says it is pleased to announce it has signed agreements to acquire 25 percent of the issued equity of Tye Soon Limited, a company listed on the Singapore Securities Exchange. Tye Soon was established in 1933 and is said to be the most prominent independent automotive parts distributor in South East and North East Asia, distributing a wide range of genuine parts and aftermarket parts. The group’s main markets are served by its operations in Singapore, Malaysia, Thailand, Hong Kong, South Korea and Australia. Partnering with its principal suppliers from Europe, Japan and Korea, the group has one of the largest portfolios of top tier global brands of automotive parts. Tye Soon’s annual revenue is c. SGD 200 million (approx. 194.45 million AUD) across: • Malaysia $43m (approx. 41.81m AUD), 15 locations • South Korea $43m (approx. 41.81m AUD), 20 locations • Australia $42m (approx. 40.83m AUD), 20 locations • Singapore $19m (approx. 18.47m AUD), two locations • Thailand $13m (approx. 12.64m AUD), one location • Other countries $40m (approx. 38.89m AUD) “The complementary expertise of Tye Soon and BAPCOR brings a range of opportunities for both businesses to collaborate and grow their markets,” BAPCOR Limited Chief Executive Officer and Managing Director, Darryl Abotomey, said. “Tye Soon has particular strengths in genuine parts and aftermarket parts distribution as well as an excellent store network in fast growing South East and North East Asian countries. “BAPCOR will work with Tye Soon to maximise the opportunities to grow their businesses in Asia and Australasia.” Completion is expected to take place in April 2021. BAPCOR will invest approximately SGD12.5 million (approx. 12.5m AUD) for the 25 percent stake in Tye Soon and will nominate directors for the Tye Soon Board. Note: In BAPCOR’s accounts the 25 percent investment in Tye Soon will be recognised as an investment in an associate. Due to the extremely low volume of Tye Soon shares traded on the SGX the share price does not reflect the underlying value of the business. BAPCOR’s investment reflects the net tangible assets of Tye Soon. The recoverable amount of the investment will be assessed for any impairment at the end of each reporting period as required by the methodologies prescribed in the specific accounting standards.

For more from BAPCOR, please visit www.bapcor.com.au