The group says it cannot currently assess the impact of the proposed respossession
[SINGAPORE] Raffles Education on Thursday (Jan 29) announced that land in China owned by its subsidiary will be acquired by the Chinese government to make way for urban planning.
In a bourse filing, Raffles Education said the subsidiary, Langfang Hezhong Education Consulting, had received notice that its land in the Hebei province would be repossessed by government authorities for “urban development and construction”.
The notice was from the Langfang Economic and Technological Development Zone Natural Resources and Planning Bureau.
Raffles Education said that Langfang Hezhong Education Consulting had on Tuesday “responded to the notice, stating that (it) would cooperate earnestly in accordance with Chinese laws and regulations”.
The group noted that the notice “does not set out the terms, conditions or other material details” of the proposed government acquisition.
The land to be repossessed has a book value of 639.2 million yuan (S$113.8 million) as at Jun 30, 2025.
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It is situated on both sides of Li Siguang road in Gu’an county within Hebei’s Langfang city, and spans about 33.3 hectares.
Raffles Education said it “has not received any further details” from the authorities about the proposed acquisition and thus cannot assess and disclose the impact of the deal on the group.
The group added that it will make further announcements when there are material developments.
Shares of Raffles Education rose 1.8 per cent or S$0.003 to close at S$0.17 on Thursday, before the news.
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