Chew Kok Chor has been appointe ED wef Jan 24
Work experience: Deputy CEO, Raffles Education Corp Group; COO, Raffles Education Corp Group
Posts Tagged ‘raffles’
Raffles Education Corp – Corporate moves
February 1st, 2011 |
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Shares dip at midday on US, China fears; Raffles outperform
January 21st, 2011 |
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Singapore shares fell at midday on Friday due to worries about disappointing U.S. earnings and possible tightening measures by the Chinese government, and traders said they expect more downside.
Asian stocks slipped because of concerns that rising inflation may invite aggressive policy action and hurt growth in the world’s engines like China and India. U.S. shares also fell overnight on lackluster tech and materials earnings.
Raffles Education +4.7%; BNP bullish; keeps Buy
January 21st, 2011 |
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Raffles Education (E6D.SG) is +4.7% at $0.335, taking its year-to-date run up to 31.4%; with 34 million shares traded it is the third most active stock today.
BNP Paribas analyst Brenda Lee says the recent rally has come on the back of potential positive news flow from the Oriental University City (OUC) development after RLS said it had identified a property developer to co-develop the OUC land to monetise its $394 million investment.
Investor sells 24 million shares in Raffles Medical: Update
January 14th, 2011 |
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An undisclosed investor is selling about 24 million shares, or about a 4.7% stake, in Singapore medical services provider Raffles Medical (RAFG.SI) for $2.26 per share, sources familiar with the matter said.
Raffles Medical shares fell as much as 6.2% on Friday. At midday, the stock was down 4.5% at $2.32 on a volume of 26.4 million shares.
Investor sells 24 million shares in Singapore’s Raffles Medical
January 14th, 2011 |
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An undisclosed investor is selling about 24 million shares, or about a 4.7% stake, in Raffles Medical (RAFG.SI), a Singapore medical services provider, for $2.26 per share, sources familiar with the matter said.
Raffles Medical shares fell as much as 6.2% on Friday. At 12:42 p.m., the stock was down 4.5% at $2.32 on a volume of 26.4 million shares.
UBS is handling the deal, according to the sources.
UBS declined comment and the comp[any was not immediately available.
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Raffles Education acquires Merchant Square properties for $65m
January 13th, 2011 |
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Raffles Education Corporation, the operator of private schools, says it plans to acquiring a four-storey office tower and two blocks of shophouses with a total net lettable area of 50,262 sq ft at Merchant Square for $65 million to enable the company to secure a permanent place of business instead of using rented premises.
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Raffles Education +5.5%; buybacks give confidence – Kim Eng
January 6th, 2011 |
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Raffles Education (E6D.SG) +5.5% at $0.290 with over 45 million shares changing hands, extending yesterday’s 7.8% rise, also on increased volume.
Kim Eng Securities says the company recently caught its attention because of the significant number of directors increasing their shareholding and company share buy-backs over 2010.
Raffles Medical Group rated ‘hold’ by OCBC
December 7th, 2010 |
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OCBC Investment Research in a Dec 6 research report says: “RMG’s 3Q10 results posted a 9.8% y-o-y increase in revenue to $60.9 million and 13.0% y-o-y growth in net profit to $10.7 million. This was driven mainly by its Hospital Services division, which saw a healthy 15% growth, although its Healthcare Services division grew only 4%.
One Raffles Quay signs $900m term loan to refinance debt
December 2nd, 2010 |
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One Raffles Quay signed a $900 million, five-year term loan to refinance debt, according to data compiled by Bloomberg. The facility pays 1.65% interest, the data show.
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One Raffles Quay signs $900m loan to repay debt
December 2nd, 2010 |
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One Raffles Quay signed a $900 million, five-year term loan to refinance debt, according to data compiled by Bloomberg.
The facility pays interest of 1.65 percentage point more than the Singapore swap offer rate, the data show.
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Ascott says no offer received for Ascott Raffles Place Singapore
November 25th, 2010 |
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Ascott Residence Trust said no offer under the right of first refusal has been received to acquire Ascott Raffles Place Singapore and no definitive agreement has been entered into.
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CapitaLand may sell Ascott Raffles Place serviced apartments
November 25th, 2010 |
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CapitaLand, Southeast Asia’s biggest property developer, may sell Ascott Raffles Place, a serviced apartment property in Singapore’s central business district, it said in a statement today.
It said Ascott Residence Trust has the first right of refusal to buy the property.
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Raffles Education Corp launches Raffles European Dual Academy
November 22nd, 2010 |
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Private education provider Raffles Education Corporation says it has launched the Raffles European Dual Academy (REDA) and signed a collaborative agreement with Germany’s Baden-Württemberg Cooperative State University and Spain’s University AlcalaÌ.
REDA will be the first academy in Asia to introduce the “Duale Hochschule” or Dual Education System which combines both theory and practical education and is practised in Germany, Spain, Switzerland and Denmark.
Raffles Education cut to Fully Valued by DBS
November 8th, 2010 |
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DBS Vickers downgrades Raffles Education (E6D.SG) to Fully Valued vs Hold, cuts target price to $0.25 vs $0.29 after lowering earnings estimate for FY11 by 15% to factor in weaker operating environment, higher costs. Flags stronger SGD vs RMB, declining student enrolment in China as key earnings risks. Says 1Q11 earnings, down 58% on-year at $5.9 million, weaker than expected. Shares flat at $0.28.
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Raffles Education posts 56% fall in 1Q net profit of $6.2m
November 4th, 2010 |
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Private education provider Raffles Education Corporation says for the first quarter ending ended 30 September 2010 (1QFY2011), it posted a net profit after tax of $6.2 million, a 56% decline from $14.1 million in 1QFY2010. This came on the back of an 18% fall in revenue of to $42.2 million from $51.6 million.
Raffles Education says the decrease in revenue was mainly due to a drop in the overall number of students in China taking the Gao Kao, foreign exchange translation loss on Renminbi-denominated revenue, and higher operating expenses from the group’s enlarged operations.
Raffles Medical up after rival’s takeover
November 1st, 2010 |
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Shares of Singapore’s Raffles Medical Group (RAFG.SI) rose as much as 9% on Monday, as investor sentiment in the healthcare sector got a boost after a Singapore investor made a takeover offer for Thomson Medical Centre (THOM.SI).
At 0223 GMT, Raffles Medical shares were up 6.9% at $2.33 with over one million shares changing hands.
Raffles Medical Group rated ‘outperform’ by CIMB
October 27th, 2010 |
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CIMB in an Oct 25 research report says: “3Q10 profit after tax and minority interest (PATMI) of $10.7 million (+12.9% y-o-y) met consensus and our expectations. 3Q10 and 9M10 EPS form 25.3% and 72.2% of our FY2010 estimates respectively.
Credit Suisse cuts Raffles Medical to neutral
October 26th, 2010 |
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Credit Suisse downgrades Raffles Medical Group (R01.SG) to Neutral from Outperform, keeps target at $2.10; says 3Q results in line with house estimates, with revenues +10% on-year, earnings +13% on-year at $10.7 million; 9-month revenue, net profit achieving 74%, 71% of FY estimates respectively.
Kim Eng ups target price for Raffles Medical
October 26th, 2010 |
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Kim Eng Securities has raised its target price for Singapore healthcare provider Raffles Medical Group <RAFG.SI> to $2.55 from $2.20 and maintained its “buy” rating.
STATEMENT:
STATEMENT:
Kim Eng said Raffles Medical’s third-quarter results were in line with its expectations, adding that the recent takeover of hospital-operator Parkway <PARM.SI> by Malaysian state investor Khazanah highlights the value of good quality healthcare assets in the region.
CIMB Keeps Raffles Medical at Outperform
October 25th, 2010 |
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CIMB keeps Raffles Medical Group (R01.SG) at Outperform, says 3Q10 net profit of $10.7 million (+12.9% on-year) met consensus, house expectations; 3Q10, 9M10 EPS form 25.3%, 72.2% of FY10 estimates, respectively.
Notes, record revenue, +9.8% on-year at $60.9 million, growth led by all divisions (Healthcare Services +4.0% on-year; Hospital +15.0% on-year).