The reporter saw at the Lion City Forum that the Asian University of New South Wales (UNSWasia, referred to as "Asia New South Wales University"), which aims to become the first foreign comprehensive university in the region, was forced to announce its closure due to poor enrollment. The university had 148 students at the time of closure. In explaining the reason for the closure, Axin University vice-president Seamer said that in the first phase of admissions activities that ended in March this year, only 143 freshmen who paid full tuition were admitted, half the expected number of 300. The school originally expected to admit 480 students in August this year, but judging from the application forms received so far, the conditions and fees for studying in Singapore are estimated to be only half of the target. Although the university received an application form in April this year that exceeded its planned enrollment by eight times, due to the school's start-up stage, fewer students than expected were finally decided to enroll. At the same time, Seamer also said that the admission target is based on the university's operating plan. Failure to meet the target means that the university will face financial losses. For every 20 students missed, the lost tuition income is $1 million. To recruit students, they spent $3 million on publicity, which was 50 per cent higher than the original budget. When the Singapore Economic Development Board first introduced the university, it was expected that it would create an annual economic benefit of 500 million yuan for Singapore.