HOME-GROWN Raffles Education Corporation, which operates three universities and 22 colleges across nine countries in the Asia-Pacific region, has told its staff there will be no retrenchments and no salary, incentive or bonus cuts either.

It has about 160 employees here and over 2,500 overseas.

Chief executive officer Chew Hua Seng, 54, says: 'It is business as usual for us. As a rule, we do not retrench staff during bad times.

Read Cassandra Chew's full story in Saturday's edition of The Straits Times.