Shareholders approve Masterskill sales

KUALA LUMPUR: Masterskill Education Group Bhd (MEGB) shareholders have approved the disposal of two properties in Selangor and Johor to Brilland Property Sdn Bhd, a company controlled by MEGB major shareholder and executive director, Siva Kumar M. Jeyapalan, for RM79.7mil cash.

“The proceeds would be used to pare down borrowings and fund its business capital in a bid to turn around MEGB's Asia Metropolitan University (AMU),” MEGB executive director, Datuk R. Palan, told reporters after the company's extraordinary general meeting here yesterday.