Company Watch

Need for Raffles Education to shed light on its dealings and plans

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A shocking announcement by Raffles Education (REC) that its auditors had highlighted material uncertainty on its ability to continue as a going concern has added another chapter to the ongoing saga of the troubled company.

The announcement, made late Friday night, noted that the group's liabilities exceeded its current assets by $196.4 million for the financial year ended June 2021.

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A version of this article appeared in the print edition of The Straits Times on October 11, 2021, with the headline Need for Raffles Education to shed light on its dealings and plans. Subscribe