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Raffles Education has a BIG DEBT HOLE.
With earnings down by 48% and weakening, Debt Repayment will be a STRAIN on Cashflow.
Better STAY CLEAR UNtil earnings are BACK to previous normal level.
| Updated: 24th August 2009, 1915 hrs |
| Raffles Edu FY09 net profit down 48.3% |
|
Singapore-listed Raffles Education says its full year net earnings dropped 48.3 percent to 51.1 million dollars, from a year ago. Revenue for the financial year ended June rose 6.3 percent to 202 million dollars as its schools enrolled more students during the year. The private education provider says the decline in profit was mainly due to a 33 million impairment of its investment in an associate and rising expenses. Excluding the one-off charge, Raffles Education says it would have registered a 14.8 percent decrease in the bottomline. Looking ahead, it plans to set up 8 more colleges in the region- three in Asia-Pacific and five in india. The company says it will continue to look for strategic acquisitions to develop its brand equity regionally |
they gona issue rights or placement, cant really remember which though...but thats why the price are up....artificial or real? up to each to believe
67.5...20K lots..nice :)
5 July 2009
RAFFLES EDUCATION CORPORATION SCRIP DIVIDEND SCHEME
ISSUE PRICE OF NEW SHARES UNDER THE SCRIP DIVIDEND SCHEME
The Board of Directors of the Company (the "Board") refers to the second interim dividend for
FY2009 ("Second Interim Dividend") of 1.0 Singapore cent per ordinary share of the Company
("Share") declared by the Company on 5 February 2009 to which the Raffles Education Corporation
Scrip Dividend Scheme (the “Scrip Dividend Scheme”) applies, and to the notice by the Company on
23 June 2009 of the books closure date on 15 July 2009 for the purpose of determining shareholders’
entitlements to the Second Interim Dividend (the "Books Closure Date")...............
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_23C38C610728AD2C482575F40037D16B/$file/RECL_2ndInterimDivFY2009_Anncemt_IssuePrice.pdf?openelement
What is the best price to buy in again?
Any advise?
kingster ( Date: 17-Jun-2009 16:51) Posted:
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AK had mentioned on its biz n earning in earlier post.
2 mths ago, it raised 30.1mil with each R issue of 0.381cts/sh. Money no enough.
Ds time rd raised 101mil with each R issue of 64cts/sh. Very lean. 60% of d raised amt to repay part of d outstanding payment for Oriental University City, PRC. And d remaining amt to pay bank loan(not sure whether Int or full payment) and working cap( left how much for working cap? big wok ah)
There is another 105.9 mil due for OUC above by end of ds yr but be delayed till Apr 2010, though hv some room for short breath, but not sure can tahan or not.
Last but not least, there is another 1 bil Rmb be paid by end 2010, 12 n 13.
After d last R issue, current d effective sh px is 0.6625. Today, closed at 0.585 cts. Hi vol 21.4k.
Above no calling, for your eyes n those enthusiats on ds burger, for analysis. Cheers.
kingster ( Date: 17-Jun-2009 16:51) Posted:
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I think the placement has been fully taken up and some of those who has taken the shares has probably sold theirs (and made their money).
The company borrowed 160 million shares from the substantial shareholder for the placement. The new shares when issued will be returned to the substantial shareholder.
kingster ( Date: 17-Jun-2009 16:51) Posted:
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