Key Developments: Raffles Education Corp Ltd (RLSE.SI)
0.38SGD
17 May 2012
$0.00 (+1.32%)
$0.38
$0.38
$0.38
$0.38
197,000
900,100
$0.65
$0.38
Latest Key Developments
Raffles Education Corporation Ltd Announces Establishment Of SGD300,000,000 Multicurrency Medium Term Note Programme
Raffles Education Corporation Ltd announced that it has established a SGD300,000,000 Multicurrency Medium Term Note Programme (MTN Programme) and that in connection therewith, the Company has appointed The Hongkong and Shanghai Banking Corporation Limited and United Overseas Bank Limited to act as the arrangers and the dealers of the MTN Programme. The net proceeds arising from the issue of the Notes under the MTN Programme (after deducting issue expenses) will be used for the financing of general corporate funding requirements or investments of the Company (including refinancing of existing borrowings), working capital, capital expenditure and other general funding requirements. Full Article
Raffles Education Corporation Ltd Does Not Declare Dividend
Raffles Education Corporation Ltd announced that no dividend has been declared for the first financial quarter ended September 30, 2011. Full Article
Raffles Education Corporation Ltd Announces Proposed Acquisition Of Land By Raffles K12 Sdn. Bhd.
Raffles Education Corporation Ltd announced that its subsidiary, Raffles K12 Sdn. Bhd. (Purchaser), has on September 29, 2011, accepted a letter of offer (Letter of Offer) dated September 29, 2011, from Education@Iskandar Sdn Bhd (Vendor) in relation to the purchase of the land (Acquisition) situated on part of H.S(D) 274365 PTD No. 100809, Mukim Pulai, Daerah Johor Bahru, Negeri Johor (Land). The Land measures approximately 46.22 acres (equivalent to 2,013,343.20 square feet) and is presently unencumbered and registered in the name of Iskandar Investment Berhad, holding company of the Vendor. The Land is in the process of being transferred to the Vendor. Under the Letter of Offer, the proposed Acquisition is subject to several conditions, including, inter alia,: the execution of a sale and purchase agreement (Agreement) within 90 days from the date of acceptance of the Letter of Offer or such other date as may be agreed in writing between the parties; and the transfer and registration of the Land from Iskandar Investment Berhad to the Vendor. The purchase consideration of MYR76,507,041.60 (the “Purchase Price”) is arrived at on a “willing-buyer willing seller, as-is-where-is” basis, and shall be adjusted taking into account, the final survey and measurements by the Land Office. The sources of funds for the Acquisition will be through a combination of bank borrowings and internal resources. Full Article
Raffles Education Corporation Ltd To Set Up New Subsidiary Company In Malaysia
Raffles Education Corporation Ltd announced the set up of a new subsidiary company in Malaysia known as Raffles K12 Sdn. Bhd. (Raffles K12) to operate an American System school that will enrol students from Kindergarten to Grade 12 level. Raffles K12 has an issued and paid-up capital of RMB200,000 which is 69% held by Raffles Education Malaysia Pte. Ltd., a wholly owned subsidiary of RafflesEducationCorp and 31% held by Bumiputera joint venture partner, Ringgitvale Sdn. Bhd. Full Article
Raffles Education Corporation Ltd Declares Final Dividend
Raffles Education Corporation Ltd announced that the Company has declared a final cash dividend of SGD0.0045 per ordinary share under one tier tax exempt. Full Article
Raffles Education Corporation Ltd's Page 8 Consulting Pte. Ltd. Announces Sale Of 50% Equity Interests In Value Vantage Pte Ltd
Raffles Education Corporation Ltd announced that Page 8 Consulting Pte. Ltd. (the Vendor), a wholly owned subsidiary of the Company has on June 23, 2011, entered into a Sale & Purchase Agreement (S&P Agreement) with Mr. Ding Fu Ru (Purchaser). Pursuant to the S&P Agreement, the Vendor will sell and the Purchaser will purchase 22,109,501 ordinary shares in the capital of Value Vantage Pte. Ltd. (Value Vantage), representing 50% of the issued and paid-up share capital of Value Vantage (the Sale Shares) on completion (the Transaction. Subsequent to the Transaction, the Vendor and the Purchaser shall each hold 50% of the issued and paid up share capital of Value Vantage. The consideration (Consideration) to be paid by the Purchaser to the Vendor for the Sale Shares shall be SGD46,000,000. Full Article
Raffles Education Corporation Ltd And Education@Iskandar Sdn Bhd To Establish Raffles University Iskandar In Educity, Iskandar Malaysia
Raffles Education Corporation Ltd announced that through its wholly-owned subsidiary, Raffles Education Malaysia Pte. Ltd. (REM), it signed a joint venture agreement with Education@Iskandar Sdn Bhd (EISB), a member of the Iskandar Investment Group, to establish Raffles University Iskandar (‘RUI’) in EduCity, Iskandar Malaysia (‘EduCity@Iskandar’). The agreements include a Joint Venture, a Sale and Purchase Agreement as well as a Deed of Covenants. Raffles Raffles Iskandar Sdn Bhd (‘RISB’), held 80% by RafflesEducationCorp through REM and 20 % by EISB, will be responsible for the development and operations of the university. This self-accrediting university will begin operations in October 2011 out of leased premises at Kotaraya, Johor Bahru, while its permanent campus in EduCity@Iskandar is being built. This 65-acre multi-faculty campus is expected to be ready by 2013. Full Article
Raffles Education Corporation Ltd Signs Joint Venture Agreement To Pursue Opportunities In The Middle East
Raffles Education Corporation Ltd announced that its wholly-owned subsidiary: Raffles Education Middle East Pte. Ltd. has entered into a shareholders’ agreement (Agreement) with Al Rushaid Petroleum Investment Company (Al Rushaid) dated May 23, 2011, in relation to the formation of a joint venture company by the name Raffles Education Middle East Group Limited, to be organised under the laws and regulations of the Kingdom of Saudi Arabia (REMEG or JVCO). Under the terms of the Agreement, REMEG will be incorporated for the purposes of providing education services in certain countries in the Middle East including establishing and operating universities, institutes and training centres, pre-school, kindergarten, primary and secondary schools as well as the provision of professional training and education related consultancy services. REMEG will be incorporated with a stated share capital of SAR2,000,000 (approximately SGD660,000), of which Raffles Education Middle East Pte. Ltd. will contribute 50%. REMEG will be exploring the feasibility of operating a vocational training centre for hospitality & tourism and retail management for the Saudi government. The JVCO is also intending to establish colleges offering Diplomas and Advanced Diplomas in Design & Business in Jeddah and Riyadh. Full Article
Raffles Education Corporation Ltd Sets Up New Subsidiary Known As Raffles Education Middle East Pte. Ltd.
Raffles Education Corporation Ltd announced the set up of a new subsidiary known as Raffles Education Middle East Pte. Ltd. (Raffles Middle East). Raffles Middle East has an initial issued and paid-up capital of SGD300,000 and will operate as an investment holding company with main focus on Middle-Eastern countries. Full Article
Raffles Education Corporation Ltd Declares No Dividend
Raffles Education Corporation Ltd announced that no dividend has been declared for the current financial period ending as on March 31, 2011. Full Article
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