Raffles Education Directors Charged Over Non-Disclosure

Raffles Education (SG:NR7) has released an update.

Raffles Education Limited has announced that several of its current and former directors have been formally charged with offences related to the alleged failure to disclose critical financial information to the Singapore Exchange. The information in question pertains to demands for the return of outstanding credit facilities by Affin Bank and legal claims against the company amounting to over RM416 million. The directors have surrendered their passports and are currently out on bail following the charges.

For further insights into SG:NR7 stock, check out TipRanks’ Stock Analysis page.