MAA Group buys St John's International school

St John

KUALA LUMPUR: MAA Group Bhd is expanding its education business with a RM27mil purchase of an international school.

The company, in a filing with Bursa Malaysia today, said its wholly owned subsidiary Edumaax Sdn Bhd has entered into a deal with Scholastic Ventures Sdn Bhd and PAC Edu KL Sdn Bhd to acquire a 90% stake in Scholastic IB International Sdn Bhd (SIB).

"The proposed acquisition will enable MAA Group to have a stable stream of income and profits, and accelerate expansion and growth in the education business segment," it said.

The remaining 10% of SIB is own by Johannians Leadership Foundation.

SIB owns the St. John’s International Edu Group Sdn Bhd, which offers Cambridge lower secondary and upper secondary for students between the age of 12 and 17 years old.

MAA Group sold its takaful business in 2016.

The company owns Kasturi Academia Sdn Bhd, formerly known as Pusat Tuisyen Kasturi Sdn Bhd.