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
New: Gift this subscriber-only story to your friends and family

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).

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST's Telegram channel here and get the latest breaking news delivered to you.