Oei Hong Leong to donate $2.7m in proceeds of Raffles Education Corporation share sale to NUS

The sum donated by Mr Oei Hong Leong (left) is equivalent to the total proceeds he received for the sale of 38.9 million REC shares. PHOTOS: SHIN MIN DAILY NEWS FILE, RAFFLES-COLLEGE.EDU.SG
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SINGAPORE - Billionaire Oei Hong Leong, a substantial shareholder of embattled education services provider Raffles Education Corporation (REC), is donating $2.7 million to the National University of Singapore (NUS).

A letter seen by The Straits Times shows that Mr Oei signed and addressed it to NUS president Tan Eng Chye on Wednesday (Oct 20).

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