Cyberjaya Education Group Berhad (formerly known as Minda Global Berhad) has announced that it has entered into a sales and purchase agreement for the proposed disposal of Asia Metropolitan University.
The education group signed the deal with Austin Legacy Education Sdn. Bhd. for the disposal of the Business, all the property, assets, and rights of the Business for a total cash consideration of RM15 million. The proposed disposal of the business relates to the sale of the business of the provision of higher education courses as duly approved by the Ministry of Higher Education of Malaysia by Asia Metropolitan University
(“AMU”) operated and carried on by Asiamet at AMU’s Johor Bahru, Johor campus and AMU’s branch campus at Cyberjaya Selangor which is duly registered under the Private Higher Educational Institutions (“PHEI”) Act 1996 (“Act”)
CEGB said the proposed disposal is in the best interest of the company as it will enable the company to streamline its value proposition and to focus on growing the Cyberjaya brand across universities and colleges.
