RAFFLES Education Corporation is proposing a rights issue to partially repay debt, including loans owed to its chief executive officer Chew Hua Seng.

RAFFLES Education Corporation is proposing a rights issue that will allow it to raise up to S$27.44 million in net proceeds.

RAFFLES Education Corporation (Raffles Edu) responded on Sunday to a slew of queries by the Securities Investors Association (Singapore) (Sias) about its operations and finances.