English center chain owner Apax Holdings owns $30.9mn in cash despite record losses

Despite being mired in tuition scam scandals and incurring record losses in 2022, Apax Holdings, which owns the APAX Leaders English-language center system, held VND737 billion (US$30.9 million) in cash and cash equivalents. At the end of last year, Apax Holdings held a 66.36 percent stake at the APAX English Corporation, the operator of APAX Leaders English centers. Thuy also affirmed that the scandal did not affect Apax Holdings’ business as Apax Holdings was the parent company which operated independently APAX Leaders centers. At the end of last year, Apax Holdings held a 66.36 percent stake at the APAX English Corporation, the operator of APAX Leaders English centers. Thuy also affirmed that the scandal did not affect Apax Holdings’ business as Apax Holdings was the parent company which operated independently APAX Leaders centers.