Raffles Education's China Property to be Repossessed by Local Government

MT Newswires

Jan 30

Raffles Education's (SGX:NR7) subsidiary, Langfang Hezhong Education Consulting, received a notice from the Langfang Economic and Technological Development Zone Natural Resources and Planning Bureau, informing the company that the bureau will repossess a land it owns located on both sides of Li Siguang Road in Hebei Province, China.

Shares of the education services company were down over 1% in Friday trading.

The decision was made to implement the urban planning needs of Langfang Development Zone and to promote urban development and construction, according to a Thursday filing with the Singapore Exchange.

To date, the company has not received any additional details from the planning bureau and is unable to assess or disclose the impact of the proposed acquisition.

The book value of the land is around 639.2 million yuan according to the company's latest financial statements for the fiscal year ended June 30, 2025.

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