Business

Oei Hong Leong to donate $2.7m in proceeds of REC share sale to NUS


SINGAPORE – Billionaire Oei Hong Leong, a substantial shareholder of embattled education services provider Raffles Education Corporation (REC), is donating $2.7 million to the National University of Singapore (NUS).

A letter seen by The Straits Times shows that Mr Oei has signed and addressed it to NUS president Tan Eng Chyeon Wednesday (Oct 20).

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