KUALA LUMPUR– Ekuiti Nasional Bhd. (Ekuinas) has cancelled its intention to list Ilmu Education Group Sdn. Bhd. (ILMU).
Syed Yasir Arafat Syed Abd. Kadir, Chief Executive Officer of Ekuinas said, the plan to list ILMU does not seem like the best way out for them.
“After reviewing various strategies, we find that wasn’t the best way.
“With that, we’re planning on new strategies,” he said.
Syed Yasir Arafat added, ILMU has enough of capital and they don’t need additional capital injection from the listing.
Previously in 2015, Ekuinas planned to list ILMU. However, it was postponed as the market condition was not stable.
ILMU comprises of a group of private education centres such as APIIT, APIIT Lanka, Cosmopoint Group, UNITAR International University and Tenby Educare Sdn. Bhd.-MalaysiaGazette