StockMarketWire.com - Education group Malvern International said it had decided to close its Singapore operations.

The majority of existing students there, over the next few weeks, would either be taught to the end of their course or transferred to other institutions.

Malvern said the operations had been loss-making for some time and, due to Covid-19, it couldn't see them turning a profit in the medium terim.

Unaudited net losses for for SAA-GE for December 2019 year end accounts were expected to be SG$1.34m on revenue of SG$3.14m.




Story provided by StockMarketWire.com