TERP signed an agreement with Universiti Teknologi Mara (UiTM) during a signing ceremony in the Malaysian state of Sarawak today. UiTM is the largest university in Malaysia. Having more than 160,000 students, the university is larger than all Norwegian universities combined. Initially, TERP will upgrade learning resources for business education of the university's campus in Kuching.
The agreement with UiTM is TERP's first in Malaysia and is an essential step in priming the Malaysian market. The company follows a similar approach as when we entered the Philippines. However, the value of the agreement goes beyond priming. To make TERP truly scalable, we have to include externally developed learning resources into our platform. That is precisely what we are doing due to the agreement with UiTM.
The pandemic prevented TERP from being physically present during the signing, but we recorded a signing video in advance. The Norwegian ambassador to Malaysia, Morten Paulsen, was an excellent replacement. He took the trip from Kuala Lumpur to Sarawak to attend the ceremony.
The agreement links UiTM to TERP's most extensive R&D project, in which the University of Stavanger and the Norwegian Computing Center in Oslo also participate as research partners. UiTM will use the technology and thus contribute data in the R&D project. In the first instance, we will upgrade learning resources in economics business abooks. When UiTM starts using these learning resources, the university becomes a paying customer of TERP.