+A -A
KUALA LUMPUR, Malaysia (July 2) – For RM52.5 million, GUH Holdings Bhd and other shareholders of Straits International Education Group Sdn Bhd (SIEG) are selling their shares in the education company to Tenby Educare Sdn Bhd.
SIEG has international schools in Rawang and Penang that it owns and operates.
The sale will allow GUH, which owns 25% of SIEG, to de-consolidate a non-core business entity and focus its resources on other core businesses, according to the company.
In a bourse filing, SIEG stated, “Upon completion of the disposal, SIEG will cease to be the indirect associate of GUH.”
As of December 31, 2020, SIEG had a loss before tax of RM2.46 million.
Today, GUH’s share price increased by 2 sen, or 4.71 percent, to 44.5 sen, valuing the company at RM119.49 million.
Sign up for an email alert at 3 p.m.
Every day, we send you news to your mailbox.
Videos in the spotlight
What exactly is 5G?
CALL IN THE MORNING: 02/07/21
EVENING 5: In portions of the Klang Valley, a two-week EMCO has been declared.
NEWS: Don’t be alarmed by the rise of virtual banks.
1/7/21 MORNING CALL
EVENING 5: CTOS Digital’s Initial Public Offering (IPO) is expected to raise RM1.2 billion.
NEWS: CTOS Digital Discusses Post-IPO Challenges
CALL IN THE MORNING: 30/06/21
EVENING 5: The government is expected to decrease its GDP prediction.
CALL IN THE MORNING: 29/6/21/n
Read More
