Raffles Education has reported a resilient business performance for the first nine months of 2026, with core earnings of S$22.71m, despite the disposal of Raffles Hefei and the impact of a stronger Singapore dollar. The company has improved its liquidity position, with cash and bank balances rising to S$46.18m as of 31 March 2026, compared to S$16.86m on 30 June 2025.
The group’s total borrowings have been significantly reduced to S$84.99m, down from S$206.78m a year earlier. This reduction includes S$40.99m attributable to its Hong Kong-listed subsidiary, Oriental University City Holdings, and convertible bonds held by the company’s chairman and CEO, Chew Hua Seng. Notably, Raffles Education’s standalone bank borrowings have been reduced to zero.
Finance costs have decreased to S$10.67m, reflecting the group’s ongoing deleveraging efforts and strategic asset monetisation initiatives. The company’s net assets have increased to S$713.17m, supported by substantial freehold property assets.
Raffles Education is focusing on expanding its premium K–12 education segment across ASEAN, with plans to establish a new campus in Jakarta, Indonesia, in the second half of 2026. The group aims to strengthen its financial performance through disciplined cost management, driving margin expansion, and delivering long-term sustainable value as a premier education group in Asia.
