PETALING JAYA: Loss-making Masterskill Education Group Bhd will integrate and downsize its business operations in Malaysia and sell its assets in three states as part of an ongoing cost-cutting initiative to improve its balance sheet and financial position.
The nursing and allied health education provider – which saw its net loss widen to RM166.97mil, or 40.73 sen per share, for the financial year ended Dec 31, 2013, from RM28.19mil, or 6.88 sen per share – said it would phase out its operations in Ipoh, Perak, and Kota Baru, Kelantan, as well as move the operations of its medical faculty in Pasir Gudang, Johor, to Cheras in Kuala Lumpur.
