Raffles Education

I don't get it -- how can Raffles cite those reasons for cancelling interim dividend? These are non-cash items!


In the light of the Group's overall loss for the financial year ended 30 June 2012 ("FY2012"), as reflected in the unaudited financial statements of the Company for FY2012 announced on 24 August 2012 (which loss resulted from, among other things, impairment of goodwill and fair value loss on investment properties due inter alia to the disposal of a total of approximately 670 mu of land and properties thereon through the transfer of all the equity interest in Langfang Taitu Real Estate Development Co., Ltd (廊坊泰土房地产开发有限公司) (the "Disposal")), the Board has resolved that it would be prudent and in the best interests of the Company that the Interim Dividend should be cancelled.

After much monitoring, found that it is a weak company with poor corporate governance, though it is a good business model. Company can't uphold itself in logical decision making. Just look at the land acquisition issues and the past $30million loan by director to another company last year! Had given up hold and cut losses on the stock and gone to other. Good luck to all.

Stock price didn't get hammered today. Reason is, the interim div to be cancelled is only 0.5 cent.

Don't make mountain out of molehill

Attend the next AGM and wack management. Anything suspicious coming up?

No wacking lah. As a contrarian, I would like to see if Raffles can be a good buy at a certain price level. How about 25 cents?

In the past 10 trading days -- Raffles has gone from 37 to 32.5 cents.
Down 12%.
I am a buyer at below 30 cents. Who is going to join me????