AEC Education plc
("AEC" or "the Company")
Announcement: Acquisition of a 30% stake in
IMS Professional Training Services Sdn Bhd.
AEC is pleased to announce that on 15 April 2008, the Company through its wholly owned subsidiary,
AEC Edu Group Pte Ltd, acquired a 30% stake in IMS Professional Training Services Sdn. Bhd. ("IMS")
for MYR 113,143 (£18,243). The consideration was settled by a forgiveness of debt owed by IMS to AEC.
The audited Accounts for the period ended 31 December 2007 of IMS showed revenue of MYR 748,929 (£120,758)
and post-tax loss of MYR 23,958 (£3,863).
IMS runs the Institute of Management Studies - www.ims.edu.my.
The Institute of Management Studies is one of the five approved institutions toprovide the prestigious,
globally-recognized Certified Financial Planner (CFP) program in Malaysia. This program is run in both
class-room and online delivery modes. IMS also run a Masters of Science in Management and Accounting &
Planning in collaboration with University Utara Malaysia.
The online delivery, combined with the Management Contract also announced today opens up new opportunities
for AEC and this acquisition provides a resource that can develop into other areas of the AEC portfolio in
IMS occupies office space of about 5,000 sq.ft in the heart of Kuala Lumpur, near the famous central market.
This purchase is a continuation of the AEC strategy to acquire and develop small to medium size synergistic
organizations that can quickly contribute to profit and growth.
Exchange rate £1 = 6.20192 MYR
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For further information please visit www.aeceduplc.co.uk or enquire to:
Mr David Ho
AEC Edu Group Pte Ltd
Tel: (65) 64120718