People Digest: APG Asset Management appoints Asia chief executive; Heliconia chairman steps down
Aaten replaces APG's departing Asia boss Wim Hazeleger
Source: dealstreetasia.com
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Raffles Education board says allegations against it in India are 'without legal merit'
SINGAPORE (THE BUSINESS TIMES) - Raffles Education (REC) on Thursday (June 2) said it has learnt that summonses have been issued by an Indian magistrate against the company, certain current and former directors, as well as employees and a consultant. The advice from its legal counsel in India is that the allegations are "without basis and without merit". . Read more at straitstimes.com.
Source: straitstimes.com
Raffles Education directors arrested by Singapore's CAD in relation to loan by Affin Bank
Raffles Education chairman and chief executive officer Chew Hua Seng, along with lead independent non-executive director Lim How Teck, non-independent non-executive director Joseph He Jun, independent non-executive director Ng Kwan Meng and Doris Chung Gim Lian, a director and key management of Raffles K12 Sdn Bhd and Raffles Iskandar Sdn Bhd, have been arrested by the Commercial Affairs Department (CAD) of Singapore.
Source: theedgemarkets.com