Raffles Edu

Raffles Edu: To buy 45.68 acres of land in EduCity, Nusajaya from subsi of Iskandar Invt Bhd. Co will build the Raffles American School and focus on offering an American curriculum for students to matriculate to colleges and universities in the USA. No price was given. RAS, with an initial investment of approx RM75m, commenced classes in Aug 2012 for grades 1 through 8 at a temporary location in Nusajaya. Co now trades at 0.7x P/B and recorded a loss in most recent FY 9:07:22 AM: Low Xu Yang: #Kitchen Culture: Proposing to diversify to include property dev, invt and trading business. Has on 11 September 2012 entered into a non-binding MOU with a third party to establish a JV. Co will own a 20% interest in the JV and 5 other unrelated parties will hold the remaining 80%. The JV will be engaged in an en bloc sale and high-end residential redev project at price of approx $92.2m. Sh/h approval will be sought.