Oei Hong Leong

Raffles Education said that it has consented to the discontinuance, which has been accepted and approved by the High Court.

Raffles Education says it intends to defend the originating summons “vigorously”.

Oei previously purchased two million shares for $284,594 from the market on September 8.

Oei Hong Leong has increased his stake in Raffles Education to 13.05% after buying two million shares from the market yesterday.

“I wish to clarify, for avoidance of all doubt, that there is no such investigation by the CAD against me or my wife or son, to my knowledge,” Chew said in a press release on September 1.

Oei wants Raffles Education to appoint an independent special auditor to undertake a series of reviews

(July 23): Singapore businessman Oei Hong Leong has won a long-running court battle involving one of Canada’s largest property developers and a commercial site in the heart of Vancouver.

SINGAPORE (Sept 11): Asset trader Oei Hong Leong on Tuesday sold his entire 32.96% stake in IPC Corporation via married deals to the latter's chairman and CEO Patrick Ngiam and his family.

SINGAPORE (Apr 5): IPC Corp says chief executive Patrick Ngiam and his family have withdrew their acceptance of the offer from Asia-Pacific Strategic Investments (APSI) to buy their stake in the company.

SINGAPORE (Mar 5): Offeror Asia-Pacific Strategic Investments (APSI) has accepted Oei Hong Leong’s withdrawal to sell his 32.96% stake in IPC Corp.