Business
Sale of Malaysian Business
Sale of Malaysian Business.
About this update from Malvern International Plc
[{"type":"text","content":"\n \nRNS Number : 8587X Malvern International PLC 23 December 2019 \n\n \n \n \n \n23 December 2019\n \n \nMALVERN INTERNATIONAL PLC\n(\"Malvern\" or the \"Company\")\n \nSale of Malaysian business \nMalvern International plc (AIM: MLVN), the global learning and skills development partner, announces the sale of its Malaysian business, which offers local diploma, vocational and professional courses, to AAA Management Science Academy PLT for a total cash consideration of MYR 400,000 (approximately £75,000). \nThe cash consideration will be payable over a 13 month period and will be used towards the repayment of an existing bank loan in Malaysia. The proposed transaction is expected to complete on 31 December 2019.\nIn the year to 31 December 2018, Malvern's Malaysian business reported revenues of MYR 5.1 million and a loss before tax of MYR 1.7 million.\nSam Malafeh, CEO of Malvern, said: \"We are pleased to have agreed the sale of the Malaysian business, which will now allow us to focus on growing our core operations in the UK and Singapore.\"\n \n\n\n\nFor further information please contact:\n \n\n\n\n\n\n\n\nMalvern International Plc\n\n\nwww.malverninternational.com \n\n\n\n\nDr Sam Malafeh - Chief Executive Officer\n\n\nVia Communications Portfolio\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland (NOMAD & Broker)\n\n\nwww.whirelandcb.com \n\n\n\n\nMike Coe / Chris Savidge\n\n\n+44 117 945 3470\n\n\n\n\n\n\n\n\n\n\n\n\nMedia enquiries\n\n\n\n\n\n\n\nCommunications Portfolio \n\n\[email protected] \n\n\n\n\nAriane Comstive\n\n\n+44 7785 922 354\n\n\n\n\n\n\n\n\n \nNotes to Editors:\n \nMalvern International is a global learning and skills development partner preparing students and learners to meet the demands of a professional life. Courses are delivered on sites in London, Manchester, Singapore, and Malaysia, with the option of studying across multiple campuses over the duration of the same course, and online through the Malvern Online Academy.\n \nCourses include:\n· Higher Education: Diploma, University degree and post-graduate programs;\n· Pathway: pre-University programs;\n· Professional: Professional examinations preparation e.g. ACCA, and corporate training;\n· &...