Raffles Education Limited (NR7) announced on Feb, 27 2026 that it has completed the disposal of its property at 51 Merchant Road, generating net cash proceeds of about 121.3 million Singapore dollars.

The company said the funds will be used mainly to repay most of its bank loans, lowering borrowing costs and improving its balance-sheet metrics. About 12.25 million Singapore dollars of non-convertible bonds will also be redeemed, providing additional interest savings.

Raffles Education will distribute a special dividend of 0.4 Singapore cents per share, with details of the book-closure date released separately on the Singapore Exchange.

Beyond deleveraging, the group plans to reallocate capital to expand its operations in ASEAN. In Malaysia, it aims to lift enrolment at Raffles American School (Iskandar) and Raffles University, add new technical and degree programmes and target a QS World University ranking by end-2026. In Thailand, it intends to complete two new academic blocks at Raffles American School Bangkok, lifting total capacity to 2,000 students and bringing combined capacity with Raffles International College to 3,000. In Indonesia, the group plans to open a new premium K-12 school in Jakarta.

Chairman and Chief Executive Chew Hua Seng said the sale strengthens the group’s financial position and provides resources to support growth without relying on additional external borrowings.