Raffles Education swings back into the black in FY18 on higher net fair value gain

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SINGAPORE (Aug 29): Raffles Education Corporation swung back into profitability in FY18 ended June, with S$10.7 million in earnings, from a net loss of S$1.8 million in FY17, thanks to a net fair value gain from its investment properties.

Earnings per share came in at 0.9 Singaporean cent, a reversal from a loss per share of 0.17 cent in the previous year.

Raffles Education said it benefited from a S$53.0 million gain from its investment properties in OUCL and Oriental University of City Holdings (HK), a S$7.7 million gain from the investment properties in Parramatta, Australia and...(click on link for full story on theedgesingapore.com)