, Singapore

Raffles Education's loss widens 49% to $3.46m in Q1

Blame the discontinuation and teach-out of Raffles Shanghai JV college.

Raffles Education Corporation Limited might need to hit the books again after its loss widened by 49% YoY from $2.33m to $3.46m in Q1.

According to its financial statement, revenue dipped by 2% YoY to $24.2m, whilst operating income fell 66% YoY to $414m.

The firm blamed the discontinuation and the lack of new students of Raffles Shanghai joint venture college which resulted in the decrease of revenue by $0.8m. There was also lower revenue from Raffles Singapore by $0.7m.

This was partially offset by higher revenue from Raffles American School Bangkok and Raffles American School Iskandar (RASJB).
 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.
Choosier Asia buyers steer auctions toward rare art
Collectors are bidding harder for works with clear ownership histories.