The Business Times
business-time-50
BT EXPLAINS
·
SUBSCRIBERS

The Raffles Education-Oei Hong Leong saga

google-preferred-sourceAdd BT as a preferred source

Claudia Tan HS &

Tan Nai Lun

Published Thu, Oct 28, 2021 · 09:50 PM

    WHAT started out as a feud between a company's chief and a former shareholder has escalated into an investigation and several arrests.

    Mainboard-listed Raffles Education Corporation (REC) has been entangled since 2020 in a dispute between former substantial shareholder Oei Hong Leong and the company's chairman and chief executive Chew Hua Seng.

    The company also came under fire for failing to disclose a writ and statements of claims filed by Affin Bank in May in Malaysia's High Court. Since then, 5 of its directors have been arrested in Singapore. The Business Times breaks down events of note in Raffles Education's past.

    raffles educationEducationLawsuitsCorporate governance

    TRENDING NOW

    An artist's impression of Pelican Paradise Group's township project that was designed to include a five-star convention hotel, an 18-hole championship golf course and a hospital, among others.

    Singapore developer in limbo after Timor-Leste scraps major township project

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    MAS will proceed with the proposals to enhance distribution safeguards that financial institutions must provide to enable investors to make informed decisions.

    MAS to remove mandatory financial advice for complex products for most retail investors

    State-level minimum purchase thresholds push foreign buyers towards higher-value properties, while consent rules and other restrictions further narrow the pool of homes available to them.

    That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More