After peaking above $3.50 in 2007, the company’s shares entered a long decline, falling to four cents in 2024 amid mounting debt pressures and softer student enrolment. The situation was compounded by a long-running feud between Chew and substantial shareholder Oei Hong Leong, alongside a series of legal disputes.
After easing Raffles Education’s debt burden, CEO Chew Hua Seng is betting on Asean to power the former market darling’s next phase of growth
Two decades ago, at the height of the local market’s last bull run, Raffles Education (SGX:NR7
) was a standout favourite. Investors bought into CEO Chew Hua Seng’s pitch that the group was well placed to ride a surge in demand for higher education across the region.
