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Raffles Education ( (SG:NR7) ) has issued an announcement.
Raffles Education has announced that its subsidiary, Raffles Assets (Singapore) Pte. Ltd., has prevailed in the first tranche of a High Court suit brought by NPS International School over a disputed S$500,000 deposit tied to a proposed lease at 51 Merchant Road in Singapore. The General Division of the High Court dismissed NPS’ claim, found that NPS had breached the Letter of Intent, and granted Raffles Assets’ counterclaim, with damages, currently quantified by the company at about S$29 million, to be assessed in a separate proceeding, a ruling that potentially strengthens Raffles Education’s financial and legal position pending the quantum decision.
The judgment, delivered orally on 20 May 2026 by Justice Andre Maniam after hearings earlier in February and May, resolves the liability phase in Raffles Assets’ favor while leaving the final amount of compensation to be determined at a later stage. Raffles Education’s board has indicated it will provide further updates as material developments arise in the damages assessment, with the outcome likely to be closely watched by stakeholders given the scale of the claimed sum and its implications for the group’s balance sheet and ongoing property-related education operations.
The most recent analyst rating on (SG:NR7) stock is a Buy with a S$0.34 price target. To see the full list of analyst forecasts on Raffles Education stock, see the SG:NR7 Stock Forecast page.
More about Raffles Education
Raffles Education Limited is a Singapore-incorporated education provider that operates through subsidiaries including Raffles Assets (Singapore) Pte. Ltd., which manages property assets used for educational purposes. The group focuses on delivering education services and managing related facilities in Singapore and other markets.
YTD Price Performance: -3.70%
Average Trading Volume: 9,491,634
Technical Sentiment Signal: Buy
Current Market Cap: S$231.5M
For detailed information about NR7 stock, go to TipRanks’ Stock Analysis page.