Raffles Edu

Raffles Education: Group on Friday announced plans to set up a university in Sri Lanka with an investment of $25m over 5 years. Raffles Education currently owns 4 university-level institutions in Australia, China, India and Malaysia. This new addition would enhance the Group’s footprint of university-level institutions. Mgmt stated that Sri Lanka is an emerging market filled with opportunities. With economic growth, there will be increased demand for university education. On the Iskandar front, Raffles Education owns 45 acres (1.96m sf) of land in EduCity, Nusajaya. The recent Singapore-KL Rail line by 2020 could see an appreciation on the Group's asset value, purchased for RM 74.5m, back in Sep 12 (translating to a cost of RM 38 psf).