Raffles Education Limited (SGX: NR7) has announced its business update for the first quarter ended 30 September 2026 (1Q2027), highlighting continued progress in its premium K–12 education segment, ongoing deleveraging initiatives and an improved liquidity position.

The Group remains focused on strengthening its financial position while pursuing growth opportunities across ASEAN's private education sector.

Key highlights of the 1Q2027 business update:

• Premium K–12 Education Expansion: Enrolment at Raffles American School in Iskandar Malaysia increased to 556 students, while Raffles American School (Bangkok), currently operating at full capacity with 700 students, is undertaking expansion plans to increase its capacity to 1,700 students by August 2027.

• Continued Deleveraging: The Company's standalone bank borrowings were reduced to zero as at 30 September 2026, while total Group borrowings declined to S$82.75 million, compared with S$86.20 million as at 30 June 2026.

• Lower Financing Costs: Finance costs decreased to S$2.13 million in 1Q2027, from S$3.99 million in 1Q2026, reflecting progress in the Group's balance sheet restructuring.

• Positive Operating Cash Flow: The Group generated S$14.79 million in net operating cash flow during 1Q2027, supported by advance course fee collections.

• Strengthened Liquidity: Cash and bank balances increased to S$47.25 million as at 30 September 2026, from S$39.14 million as at 30 June 2026.

• Strategic Asset Monetisation: The Group continues to progress its asset monetisation initiatives, including the RMB112 million disposal of Raffles Hefei and expected net cash proceeds of approximately RMB271 million (S$50 million) from the compulsory acquisition of its land in Langfang City, China.

• Substantial Asset Base: Net assets stood at S$661.44 million, equivalent to a net asset value of 36.35 Singapore cents per ordinary share as at 30 September 2026.

For 1Q2027, RafflesEducation recorded revenue of S$24.65 million and adjusted EBITDA of S$5.86 million, compared with S$28.88 million and S$7.02 million respectively in the corresponding period last year. Its adjusted operating loss before income tax narrowed to S$0.10 million, from S$1.50 million in 1Q2026, excluding a one-off, non-cash accounting write-down of S$60.84 million arising from the compulsory acquisition of the Langfang land.

Commenting on the Group's progress, Mr Chew Hua Seng, Chairman and CEO of RafflesEducation, reaffirmed its commitment to strengthening its balance sheet through disciplined execution, while leveraging its established education platform, proprietary curriculum and substantial asset base to support long-term growth.

With 36 years of experience in the education sector, RafflesEducation continues to focus on expanding its premium education offerings, improving operational efficiency and creating sustainable long-term value.\

See link for full media release: https://links.sgx.com/FileOpen/RafflesEdu_PR_1Q2027_10Nov1615.ashx?App=Announcement&FileID=910908