CORRECTION: Stake changes: Raffles Education Director Ng Kwan Meng buys 2M shares

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Singapore substantial shareholder change announced on Saturday, 27 November 2021: Raffles Education.

CORRECTION: A filing on 4 December 2021 corrected the size of the Ng Kwan Meng’s interest in Raffles Education after the transaction. The figure has been corrected below. 

Raffles Education

Ng Kwan Meng acquired 2 million shares of Raffles Education in the market on Friday for S$130,000, taking his total interest to 0.258 percent from 0.113 percent previously, according to a filing to SGX Saturday.

Ng is an independent non-executive director of Raffles Education, appointed in February 2021, according to the company’s website.

He is also currently the chairman of SP Group Treasury, and also holds directorships at e Tasek Jurong Ltd., British and Malayan Trustees Ltd., British and Malayan Holdings Ltd. and Singapore Power, the website said.

Previously, he was the managing director and head of group global markets at UOB, the website said.

Raffles Education holds a network of 18 colleges and universities in 10 Asia Pacific and European counties. The company also has a Hong Kong-listed subsidiary, Oriental University City (H.K.), which leases education facilities to 12 vocational and technical colleges, Raffles Education’s website said.