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Raffles Education Corporation (REC)
Insider moves
Raffles Education CEO acquires 13.7 mil shares, upping stake to 34.57%
The company’s independent director, Chua Chwee Koh, also acquired shares in the company, raising his stake to 0.435%.
July 02, 2022
Company in the news
Raffles Education receives summonses from Delhi court with regard to operations in India
Summonses were also issued against some of the company’s current and former directors, including Chew Hua Seng and Gan Hui Tin.
June 03, 2022
Results
Raffles Education Corp reverses into black with $1.5 mil earnings in 3QFY2022
In the 9MFY2022, however, the company posted a 69% y-o-y decline in earnings to $10.3 million.
May 09, 2022
Company in the news
Raffles Education directors arrested by CAD in relation to loan by Affin Bank
The bail amount for each person has been set at $30,000.
February 22, 2022
Results
Raffles Education Corporation reports 51% lower earnings of $18.3 mil in 2QFY2022
As at Dec 31, 2021, REC’s current liabilities have exceeded its current assets by $182.1 million and $114.7 million respectively.
February 12, 2022
Results
Raffles Education reports $9.6 mil loss in 1QFY22 update
In its statement on Nov 12, REC says it is confident that the lenders will continue to support the group.
November 12, 2021
Company in the news
Raffles Education subsidiary claiming RM89.3 mil from contractor in legal proceedings
The company's contractor Mitrajaya has countersued and is asking for RM64.91 million.
November 03, 2021
Company in the news
Raffles Education refutes 'unsubstantiated allegations' made by Oei's second letter since Oct 16
Raffles Education has asked Oei to "allow the board to focus on managing the company’s business in these difficult times".
October 25, 2021
Company in the news
Raffles Education directors investigated by MAS and CAD on loan from Affin Bank; issues response to letter from Oei
Shares in Raffles Education closed at 6.1 cents on Oct 18. Trading in its shares were halted since the morning of Oct 19.
October 21, 2021
Company in the news
Oei Hong Leong drops suit against Raffles Education
Raffles Education said that it has consented to the discontinuance, which has been accepted and approved by the High Court.
October 14, 2020