Our CEO's Message

Mr. Chew Hua Seng

Chairman & CEO

Dear Shareholders,

FY2016 has been a challenging year for the Group as it operated in a global macroeconomic environment that is less than favourable.
However, with a keen eye for unlocking potential, the Group took opportunity to enter the US education market and further invest and grow its presence in Europe.

Premier Education Provider
In July 2016, Raffles American School moved into its new premises in Iskandar, Johor, after construction of its Phase1 has been completed. The design of the campus embraces and accentuates the varying heights and gradients of the sprawling land within the 46-acre site, providing the students, ranging from kindergarten to year 12, with an aesthetically pleasing, secure and functional environment that is conducive to learning and growth. Phase 1 consists of a 3-storey academic block that additionally houses the administrative offices, reading and play-acting rooms and a library. This Phase also consists of age appropriate playgrounds, an Olympic-size swimming pool, gymnasiums and other sports facilities. When fully completed, the campus will have its own unique dormitory set up and boast a planetarium equipped with state of the art technology. It is expected to be the most modern facility of its kind in Malaysia.

During the year, the Group’s wholly-owned indirect subsidiary, Raffles Asset Italy S.R.L., purchased a 4-storey building at Via Felice Casati, 16, in Milan, Italy. The premises of 4,800 sq. metres, after renovation, will eventually house our design school in Milan with the balance leased out as commercial space. This is in line with the Group’s aim to ultimately invest in the education assets and facilities of every school and college that it operates in order to create good facilities for the students as well as for cost efficiency.