ANNUAL

REPORT
11 Beach Road #01-02,
Singapore 189675
Tel: +65 6336 2270 Fax: +65 6338 5167
www.raffles-education-corporation.com

Company Registration Number: 199400712N

Auckland O Bangkok O Beijing O Changchun O Changzhou O Guangzhou O Hong Kong
Hanoi O Ho Chi Minh City O Huizhou O Kuala Lumpur O Melbourne O Mumbai O Ningbo
Shanghai O Singapore O Sydney O Ulaanbaatar O Wuhan
SUCCESS
BY DESIGN
CONTENTS: 02 CORPORATE STRUCTURE
03 OUR VISION 04 FINANCIAL HIGHLIGHTS
05 FINANCIAL REVIEW
08 MESSAGE FROM THE CHAIRMAN & CEO
10 BOARD OF DIRECTORS 12 EXECUTIVE OFFICERS
15 CORPORATE GOVERNANCE STATEMENT
21 CORPORATE INFORMATION
22 RAFFLES DESIGNERS/AWARD WINNERS 29 FINANCIAL CONTENTS

ANNUAL REPORT 2006

 CORPORATE STRUCTURE

MANAGEMENT

Chairman & CEO

CHEW Hua Seng

Deputy CEO
Scott CHEW

Group Financial Controller

“ “Spiro” was
inspired by the
flight path of
an acrobatic
airplane. The
form follows
the spiral
Kenneth HO
manoeuvres
Group Manager, Human Capital of stunt plane,
Harjanto KWEK transforming
Director, Merger & Acquisition
them into a
Stephen CHONG chair-and-table
designer piece.
Director, Corporate Services
James TAY
The shapes of
this furniture
REGIONAL OPERATIONS itself are sleek
and minimalist,
Vice President, China Operations
Richard LEONG
reflecting
today’s modern
Vice President, REN Asia Pacific Operations lifestyle.
Patrick LOKE

”
- Riswandi Tjahyono (Indonesia)
UNIVERSITY RELATIONS Current student of BA (Hons) Product Design and finalist for
Furniture Design Award 2006.

Director, Operations
Doris CHEW

Deputy Director, Student Affairs & Quality Assurance

Celeste HO

RAFFLES UNIVERSITY

Chairman
YEO Cheow Tong

President
Tony DICKSON
M

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ANNUAL REPORT 2006 | Raffles Education Corp
 OUR VISION

A
s a premier education provider we are committed to nurture creative talents
and design management expertise for the arts, design and lifestyle industries
as well as expertise for business management. We provide high quality
education relevant to industry and adapt to the socioeconomic needs of the
societies in which we operate. We strive to give every student a fundamental education
based on:

• the development of superior thinking processes,

• the mastery of written and spoken language as a tool of communication and

thought,

• the acquisition of thorough and effective work methods based on analysis and
judgment,

• a consciousness of the historic dimension of human ideas and activity and the
capacity to assume responsibility for his or her own personal development

Though our primary goal is the transfer of knowledge and technical know-how, we
also strive to provide a well-rounded education that will make the learning process
an enriching life experience, contributing to the student’s personal growth and the
development of social skills.

Ulaanbaatar

Changchun
Beijing
Changzhou
Wuhan
Guangzhou Shanghai
Ningbo
Mumbai Huizhou Hong Kong
Hanoi
Bangkok Ho Chi Minh City

Kuala Lumpur
Singapore
Sydney
Auckland

Melbourne
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Raffles Education Corp | ANNUAL REPORT 2006
 FINANCIAL HIGHLIGHTS

2006 2005 2004

S$’000 S$’000 S$’000

Revenue 90,062 59,404 32,289
Profit Before Tax 34,870 19,938 11,853
Profit Attributable to shareholders 32,269 17,214 10,146

Shareholders’ Funds 34,096 23,992 14,947

Non-Current Assets 31,231 18,500 9,663
Current Assets 44,545 30,857 26,540
Current Liabilities 38,365 23,773 19,767

Turnover Profit Before Tax Profit Attributable

to Shareholders
100,000

90,000

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

2004 2005 2006 2004 2005 2006 2004 2005 2006

FOR THE YEAR (S$’000) 2006 2005 CHANGE (%)

Revenue 90,062 59,404 51.6%

Profit before Tax and Minority Interests* 34,870 19,938 74.9%
Profit after Tax before Minority Interests* 32,684 17,275 89.2%
Profit after Tax and Minority Interests* 32,269 17,214 87.5%
Net Dividends 19,214 12,685 124.3%

At Year End (S$’000)

Issued Share Capital 17,775 12,685 40.1%
Shareholders’ Funds 34,096 23,992 42.1%
Non-Current Assets 31,231 18,500 68.8%
Current Assets 44,545 30,857 44.4%
Current Liabilities 38,365 23,773 61.4%

At Year End
Net Assets per Share (Cents)* 6.64 4.73 40.4%
Basic Earnings per Share (Cents)* 6.33 3.41 85.6%

Financial Ratios
Return on Equity (%)* 94.64 71.75 31.9%
Net Profit Margin (%)* 35.83 28.98 23.6%

*The comparative figures as at 30 June 2005 have been adjusted for S$0.5 million due to the adoption of FRS
102 Share Based Payment.

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ANNUAL REPORT 2006 | Raffles Education Corp
 FINANCIAL REVIEW

“
Out of all REVENUE
the schools,
I decided to Business segments FY2006 FY2005 % Increase

study here at S$’000 S$’000

Raffles Design Design 61,021 41,967 45.4%

Institute. One Management

Total
29,041
90,062
17,437
59,404
66.5%
51.6%
of the reasons Raffles Education Corporation delivers courses in various areas of design and
is because it is management.
an international Revenue by business activities is set out in the table above.
school, their Revenue increase by S$30.7 million or 51.6% from S$59.4 million in FY2005 to S$90.1
teachers are million in FY2006.

internationally The increase in the Group’s revenue was due to the following:
trained. It would 1. overall increase in the student enrolment in the Group;
be a worthy 2. increase in course fees for programmes; and

experience to 3. inaugural 6 months contribution form Path Education Corp (“Path”) amounting
to S$5.0 million.
study here. Of the Group’s total revenue, design and management segments contributed to 67.8%
(FY2005: 70.6%) and 32.2% (FY2005: 29.4%) respectively.
- Jacqueline Hickey (USA)
BA (Hons) Fashion Design graduate and Fashion Designer
for Song & Kelly 21. PROFITABILITY
Business segments FY2006 FY2005 % Increase
(Decrease)

S$’000 S$’000
Design 25,354 15,135 67.5%
Management 8,970 3,905 129.7%
Segment result* 34,324 19,040 80.3%
Other operating income 717 910 (21.2%)
Finance costs (171) (12) NM
Income tax (2,186) (2,663) (17.9%)
Minority interests (415) (61) 580.3%
Total* 32,269 17,214 87.5%

*The comparative figures as at 30 June 2005 have been adjusted for S$0.5 million due to the adoption of FRS
102 Share Based Payment.

The segment result by business activities is set out in the table above.

Segment result increase by S$15.3 million or 80.3% from S$19.0 million in FY2005 to
S$34.3 million in FY2006. Earnings for design and management segments constituted
73.9% (FY2005: 79.5%) and 26.1% (FY2005: 20.5%) of the segment result for FY2006
respectively.

Other operating income decreased from S$0.9 million for FY2005 to S$0.7 million for
FY2006, this is mainly due to decrease in foreign exchange gain.

The increase in administrative expenses for FY2006 as compared to FY2005 is in line

with the overall increase in the Group’s turnover. This can be attributed mainly to the
following:

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Raffles Education Corp | ANNUAL REPORT 2006
 FINANCIAL REVIEW

1. increase in staff and related costs of S$5.9 million due to establishment of new
colleges, overall increase in staff strength and Path Education Corp’s staff and
related costs of S$1.5 million;
2. Increase in rental expenses of S$1.8 million as a result of new colleges, new
marketing offices and Path Education Corp’s rental of S$0.4 million; and
3. increase in other expenses of S$8.2 million as a result of increase in both
marketing and college operations, and Path Education Corp’s other expenses
of S$2.2 million.

The Group’s profit before tax has increased from S$20.0 million for FY2005 to
S$34.9 million for FY2006 due mainly to organic growth of the Group’s business and
economies of scale, and contribution from Path Education Corp of S$1.1 million. In
addition, the operation of our subsidiary Hartford has turned around and contributed a
profit before tax of S$1.1 million (FY05: S$0.33 million).

The decrease in the Group’s income tax expense from S$2.7 million in FY2005 to S$2.2
million in FY2006 was mainly due to over-provision of income taxes in previous periods.

FY2006 profit attributable to shareholders of S$32.3 million as compared to S$17.2

million for FY2005, registered a growth of 87.5%.

GROUP OPERATIONAL REVIEW

North Asia

Revenue contribution from the colleges in North Asia constituted 59.4% (FY2005:
58.1%) of total revenue. Revenue contributed from these colleges increased by 55.1%
from S$34.5 million in FY2005 to S$53.5million in FY2006 primarily due to higher
student enrolment.

ASEAN

Revenue contribution from the ASEAN region constituted about 26.6% (FY2005:
22.9%) of total turnover. Revenue from these colleges increased by 76.5% from
S$13.6 million in FY2005 to S$24.0 million in FY 2006 due to increased student
enrolment and continued positive contribution from Hartford.

The Group has extended its footprint into Vietnam the establishment of its first college
in Ho Chi Minh City. The new college has commenced operation in January 2006 and
it is expected to contribute marginally to the Group’s financial results in FY2007.

Australasia

Turnover contribution from Australasia constituted about 12.7% (FY2005: 18.8%) of

total turnover.

During the year, additional new colleges were added due to the acquisition of Path
Education Corp. This further expands the Group’s penetration into the Applied
Psychology and Information Technology market segments of Australian market.

Subsequent to FY2006, the Group has acquired The Mac Club Limited (“Digitrain”), a
company incorporated in New Zealand. Digitrain is a leading tertiary Private Training
Establishment (“PTE”) in New Zealand that offers a range of design programmes up
to diploma level. Its Certificate & Diploma programmes are accredited by the New
Zealand Qualifications Authority (“NZQA”) and offer students training in industry-
focused courses including, Graphic Design, Animation, Computing & Systems,
Photography, Beauty Services, Make-up & Special Effects. This acquisition would be
beneficial to the Group as it will expand the range of programmes offered by the Group
in near future.

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ANNUAL REPORT 2006 | Raffles Education Corp
 FINANCIAL REVIEW

India

Raffles Design International (India) Private Limited that commenced operations in early
2005 has contributed a turnover of S$1.1 million in FY2006 (FY2005: S$0.076 million)
or 1.3% of total turnover (FY2005: 0.12%).

Going forward, the Group expects to see continued growth of its business in each
of the regions it operates in, given its growing presence, branding, strengthening of
comprehensive recruitment network and the establishment of Raffles University.

“ Studying at Raffles Design Institute

Singapore was definitely a wonderful
and unforgettable experience. I found
the two year Fashion Design course
was productive, informative, and most
importantly I met the most dedicated
lecturer, Mr. Joe Spinelli, in my life.
- Jonathan Cheng (Malaysia)

”
Advanced Diploma Fashion Design graduate - owner and
designer of Jonathan Cheng Homme (Men’s Wear Collection).

Raffles Education Corp | ANNUAL REPORT 2006

7
 MESSAGE FROM THE CHAIRMAN & CEO

Dear valued shareholders,

Today, through clearly defined strategies, incremental steps and a passion for
excellence, we have emerged as Asia’s leading education group.

During the year, we continued our pursuit of making strategic acquisitions by

acquiring colleges from PATH Education Group Pte Ltd, a leading regional education
provider of applied psychology and infocomm technology. The acquisition enables
us to expand our course offerings from design and management education to
include applied psychology and infocomm security training. In FY2006, PATH
contributed S$5.0 million to the Group’s full year revenue.

Further away from home, we added to our growing list of Hartford Institutes
by acquiring Hartford Institute - Auckland. This will enable us to target a new
geographical market segment and leverage on its market presence in New Zealand
to provide our students with an additional choice for venue of education.

In addition,following our acquisition of Digitrain (now known as Raffles Design

Institute – Auckland), has contributed to the growing presence of Raffles Design
Institutes region-wide.

While strategic acquisitions are a key component in our growth engine, we

continued the organic expansion of our footprint in the region by establishing the
Raffles- Wuhan Institute in Wuhan, China, and by opening the first Raffles Design
Training Centre in Ho Chi Minh, Vietnam. We also opened the first Hartford Business
Training Centre in Hanoi, Vietnam.

Our recruitment marketing network, which has played a significant role in multiplying
the student enrolment of our colleges, has itself grown into a network of over 64
points around the region. We will continue our drive to expand and strengthen this
important component of our growth strategy.

It’s the little things that

make big things happen…
has been the operating
ethos of the Group since we
started in 1990.
Our footprint currently covers 14 Raffles Design Institutes in Asia, with six located
in Singapore, Bangkok, Kuala Lumpur, Mumbai, Ho Chi Minh and Auckland,
and the remaining eight institutes in the PRC located in Shanghai, Beijing,
Ningbo, Changchun, Changzhou, Wuhan, Guangzhou and Huizhou. We have
six Hartford Institutes in Singapore, Kuala Lumpur, Hanoi, Hong Kong, Auckland
and Ulaanbaatar, four PATH colleges in Kuala Lumpur, Singapore, Melbourne and
Sydney, and a KvB Institute in Sydney (Australia).

We also view the development of intellectual property as central to an educational

establishment. With our expansion plans already in place, we are focused on
enhancing our brand by developing our proprietary courseware, which will strengthen
our ability to influence the quality of the education we provide. The recently
announced plan for Raffles University is expected to reinforce our brand name and
enable us to accelerate the development of our degree courseware offerings.

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ANNUAL REPORT 2006 | Raffles Education Corp
I am very pleased that our unrelenting focus on growth has reaped excellent financial
results. In FY2006, our revenue surged 51.6% to S$90.1 million from S$59.4
million in FY2005. The strong growth in revenue was mainly driven by the overall
increase in student enrollment, increased tuition fees and contributions from both
PATH Education and Hartford Education. With the jump in student enrollments, we
achieved better economies of scale, which enabled our net profit to increase 89.2%
to S$32.7 million from S$17.3 million in the previous corresponding year. We are
delighted to announce that Hartford is continuing its successful climb into the black,
contributing S$1.1 million profit before tax to the Group.

We are confident about our growth prospects and expect our business to continue
to tap into the strong demand for education in the region through the establishment
of more colleges and the expansion of our marketing network.

To reward our shareholders, the Board of Directors has proposed a final dividend of
1.8 cents per ordinary share for FY2006, with a total dividend payment for the year
of 5.5 cents per share. In addition, we are also proposing a dividend in specie of
1 Hartford share for every 12 Raffles Education Corporation shares. In addition, to
improve liquidity, we are also proposing to undertake a share split where each share
will be sub-divided into two new ordinary shares in the capital of the company.

In concluding, I wish to express my deep appreciation to our dedicated staff for

their commitment and contribution in steering the company to a brighter future. I
would also like to extend my gratitude to our shareholders and stakeholders for their
continued support.

Our aspirations are our possibilities and we look forward to the new year with
promise.

September 29, 2006

Mr Chew Hua Seng

Chairman/Chief Executive Officer

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Raffles Education Corp | ANNUAL REPORT 2006
 BOARD OF DIRECTORS

MR CHEW HUA SENG,

CHAIRMAN & CEO
Mr Chew Hua Seng is the Founder, Chairman and CEO of RafflesEducationCorp.
He established his first design college in 1990, offering only fashion related courses.
Under his leadership, the company has grown from a local design college to a listed
entity with 24 colleges across the Asia Pacific Region. He was also instrumental in the
Group’s 60% acquisition and subsequent turnaround of Hartford Holdings Limited. He
holds a Bachelor’s Degree in Business Administration from the University of Singapore
and was appointed as Consulting Professor of Garment College of Donghua University,
PRC in January 2000. Mr Chew is the Vice President of China Textile and Fashion
Education Society and also serves as a member of the Singapore-Zhejiang Economic
& Trade Council.

MR GAY CHEE CHEONG,

NON-EXECUTIVE DIRECTOR
Mr Gay Chee Cheong is the Deputy Chairman/Chief Executive Officer of 2G Capital
Pte Ltd, a private equity investment company. Prior to joining 2G Capital, he was the
Group Executive Director of JIT Holdings Limited and the Managing Director to the
various JIT companies in Singapore, China and Europe. Mr Gay holds directorships
in several listed and non-listed companies in Singapore. He holds a Bachelor Degree
in Electronics Engineering (Honours) from the Royal Military College of Science
Shrivenham, UK, a Bachelor Degree in Economics (Honours) from University of
London, UK and a Master of Business Administration from the National University of
Singapore.

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ANNUAL REPORT 2006 | Raffles Education Corp
MR HENRY TAN SONG KOK,
INDEPENDENT DIRECTOR
Mr Henry Tan Song Kok is senior partner of Nexia Tan & Sitoh, a firm of Certified
Public Accountants and the Chairman of Nexia China. He is also the Asia Pacific
Regional Chairman and Board member of Nexia International. Mr Tan is also a director
of YHI International Limited, Chosen Holdings Limited, Pertama Holdings Limited and
Nera Electronics Ltd. He graduated with a First Class Honours Degree in Accountancy
from the National University of Singapore. Mr Tan is a member of the Institute of
Certified Public Accountants in Singapore, Institute of Chartered Accountants in
Australia, Institute of Internal Auditors, Inc (Singapore Chapter) and Singapore Institute
of Directors.

PROF TAN TECK MENG,

INDEPENDENT DIRECTOR
Prof Tan Teck Meng graduated with a Bachelor of Accountancy from University of
Singapore and a Master of Commerce (Honours) from University of New South Wales,
Australia. He was conferred an Honorary PhD from Liaoning University, China. He
is a fellow of the Institute of Certified Public Accountants, Singapore; the Institute of
Chartered Secretaries and Administrators; the Australian Society of CPAs and the
Chartered Institute of Management, UK. Professor Tan also sits on the Boards of K1
Ventures Limited, Kim Eng Holdings Limited, Singapore Reinsurance Corporation
Limited and Singapore Shipping Corporation Limited.

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Raffles Education Corp | ANNUAL REPORT 2006
 EXECUTIVE OFFICERS (RAFFLES EDUCATION CORP)

MR SCOTT CHEW KOK CHOR

DEPUTY CEO

Mr Chew is the Group’s Deputy CEO. He is concurrently the Group Director of Raffles
Education Network. He plays a vital role in strategic planning, execution of business
development policies and expansion of the Group’s operations in Asia Pacific region.
Before his appointment as Deputy CEO, he served as the Chief Operating Officer
and Vice President of China Operations. He has made significant contributions to the
continuing growth of the Group in his appointments since joining the Group in 1998.
He graduated from the National University of Singapore, holding a Bachelor Degree in
Mechanical Engineering (2nd class upper honours).

MR KENNETH HO KAH CHUAN

GROUP FINANCIAL CONTROLLER

Mr Ho is the Group Financial Controller and is responsible for the Group’s financial
management and reporting functions. Before joining the Group, he worked as an
auditor in two international accounting firms. He holds a Bachelor Degree in Commerce
(Accounting & Finance) from Monash University, Australia and is a Certified Practising
Accountant of CPA Australia.

MR RICHARD LEONG AIK HUAT

VICE PRESIDENT (CHINA OPERATIONS)

Mr Leong is the Vice President of China Operations and is responsible for the
Group’s expansion and growth in the PRC. He has over 12 years of experience
in setting up and managing companies in Hong Kong, China and Malaysia. He
graduated from National University of Singapore, holding MSc (Real Estate) and BSc
(Estate Management).

MR STEPHEN CHONG EE YONG

DIRECTOR (MERGER & ACQUISITION)

Mr Chong is the Group’s Director of Mergers & Acquisitions and responsible for the
Group’s M&A expansion activities. He has over 10 years of experience in setting-up,
managing & re-structuring companies overseas. His past appointments included
establishing and managing numerous operations abroad for renowned multi-national
companies including Singapore Technologies, JIT Electronics, Flextronics Plastics and
Hyflux Ltd. He is a graduate of the Royal Military College of Science (Shrivenham), UK;
holds a BE (Civil) from the Royal Military College (UNSW), Australia; has a GDFM from
the Singapore Institute of Management and a MSc(Finance) from City University of
New York.

MR PATRICK LOKE PAK HOE

VICE PRESIDENT (REN ASIA PACIFIC OPERATIONS)

Mr Loke is the Vice President (Asia Pacific) of Raffles Education Network and is
responsible for the student recruitment network in Asia Pacific. He is also responsible
for developing new Institutes for the Group in this region. He has 2 years of investment
banking experience and 10 years of senior management experience in the education
industry. He graduated from The Pennsylvania State University, USA with a BSc.
(Honors) in Finance.

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ANNUAL REPORT 2006 | Raffles Education Corp
 EXECUTIVE OFFICERS (RAFFLES UNIVERSITY)

MR YEO CHEOW TONG

CHAIRMAN, BOARD OF GOVERNORS,
RAFFLES UNIVERSITY

Mr Yeo Cheow Tong was born in 1947. He received his secondary education at
Anglo-Chinese School. In 1967, he was awarded a Colombo Plan Scholarship to
the University of Western Australia, where he obtained his Bachelor of Engineering
(Mechanical) degree.

He worked in the Economic Development Board (EDB) from 1972 to May 1975,
when he joined LeBlond Makino Asia Pte Ltd (LMA) as a Staff Engineer. In 1981, he
was appointed Managing Director of both LMA and its subsidiary company, Pacific
Precision Castings (Pte) Ltd (PPC).

Mr Yeo stood in the December 1984 General Election, returning unopposed as the
Member of Parliament (MP) for Hong Kah Constituency. He resigned from LMA and
PPC in February 1985 to take up appointment as Minister of State for Health and
Minister of State for Foreign Affairs.

In the September 1988, Mr Yeo was promoted to Senior Minister of State and re-
appointed Acting Minister of Health. In November 1990, he was appointed Minister for
Health in the Government led by Prime Minister Goh Chok Tong.

Mr Yeo was appointed Minister for

I am delighted and honoured to be
associated with the creation of Raffles
University as its first Chairman. After
many years of Government service
I am especially happy to be able to
Health and Minister for Community
Development in September 1991.
In January 1994, he relinquished his
portfolios of Health and Community
Development, and became Minister for
Trade and Industry. In January 1997,
he relinquished his Trade and Industry
portfolio, and was appointed Minister for
Health and Minister for the Environment.

contribute to a new university that will In June 1999, he relinquished his Health
and Environment portfolios and was

enhance significantly the ambition of appointed Minister for Communications

Singapore to be a major regional hub for
higher education. Raffles University will
have creativity and entrepreneurship
at the heart of all its programmes, thus
contributing to enterprise and new
business creation in Singapore and in
the many other countries in which its
programmes will be delivered.
and Information Technology.
In November 2001, Mr Yeo was
appointed Minister for Transport when
the Ministry of Communications and
Information Technology was renamed as
the Ministry of Transport.
In the May 2006 General Elections, Mr
Yeo was returned unopposed as one
of five MPs for Hong Kah GRC, and
subsequently retired as a Singapore
Cabinet Minister.
Mr Yeo was appointed as a member of
the Global Advisory Board of Chicago
University Graduate School of Business
in June 2006. In August 2006, he was
appointed Advisor to Raffles Education
Corporation and Chairman of the Board
of Governors of Raffles University.

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Raffles Education Corp | ANNUAL REPORT 2006
 EXECUTIVE OFFICERS (RAFFLES UNIVERSITY)

PROF TONY DICKSON

PRESIDENT, RAFFLES UNIVERSITY

Prof Dickson had previously held senior posts in the UK at Northumbria University,
Paisley University and Glasgow Caledonian University.

During 14 years in the senior team at Northumbria Prof Dickson was responsible
at different times for the University’s QA systems, Teaching and Learning, Property
development, business strategy, and technology transfer. His most recent role as
Deputy Vice-Chancellor (Development) included the University’s International activities,
as well as its Regional Strategy. These activities were closely linked with his lead role in
developing Northumbria’s business interests both in the UK and internationally.

At Northumbria, he led the development of the University’s web presence, ebusiness

capability, and elearning strategy. He also worked extensively with both public and
private sector organisations on ebusiness and elearning issues.

This work included being a founding member and Director of Smart Isles and Northern
Informatics, both early adopters of ebusiness solutions; acting as Non-Executive
Chairman of AskHow2, a start up company offering web based solutions to business;
and undertaking consultancy for organisations that include Sun Microsystems, Hewlett
Packard, BT and Kodak.

I am delighted to have the opportunity

to lead the development of a major
new international university. Raffles
University will build upon the very
strong foundations for quality education
already established within Raffles
Education Group. The University
will be a forward looking modern
institution that offers its students the
opportunity to develop their creative
skills and their knowledge base
so that they have a major advantage in a
rapidly changing international economy. The
University will operate from day one as a
genuinely international institution, delivering
its programmes in a range of countries which
form the basis of the emerging powerhouse of
the new world economy.

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ANNUAL REPORT 2006 | Raffles Education Corp
CORPORATE GOVERNANCE STATEMENT

R
affles Education Corporation Limited (the Company) is committed to
complying with the Code of Corporate Governance (Code) issued by the
Corporate Governance Committee. The Company currently also applies
the principles set out in the Best Practices Guide issued by the Singapore
Exchange Securities Trading Limited (SGX-ST) on corporate governance.

I. BOARD MATTERS
Board’s Conduct of its Affairs

The principal functions of the Board are to:

1. Approve the broad policies, strategies and financial objectives of the Company
and monitoring the performance of management.
2. Oversee the processes for evaluating the adequacy of internal controls, risk
management, financial reporting and compliance.
3. Approve the nominations of board directors and appointment of key personnel.
4. Approve annual budgets, major funding proposals, investment and divestment
proposals.
5. Assume responsibility for corporate governance.

The Board comprises of business leaders and professionals with financial

backgrounds. Profiles of our directors are found on page 10 to 11 of this Report.

Matters which are specifically reserved for the Board’s decision are those involving
interested person transactions, material acquisitions and disposal of assets, corporate
or financial restructuring, share issuances, dividends and other returns to shareholders.

The Board conducts scheduled meetings on a regular basis and on the day of the
Annual General Meeting (AGM). Adhoc meetings are convened when circumstances
require. The Company’s Articles of Association (the “Articles”) allow a board meeting to
be conducted by way of a tele-conference. The attendance of the directors at meetings
of the Board and Board committees, as well as the frequency of such meetings, are
disclosed in this report.

Newly appointed directors are given an orientation on the Group’s business strategies
and operations and are also provided with information on their duties as a director
under Singapore law. Directors are updated regularly on key accounting and regulatory
changes.

The Company has adopted a policy that directors are also welcome to request further
explanations, briefings or informal discussions on any aspects of the Company’s
operations or business issues from the management. The CEO will make the
necessary arrangements for the briefings, informal discussions or explanations required
by the directors.

Board Composition And Balance

The Board comprises 2 independent directors, 1 non-executive director, and 1 Chief

Executive Officer/Chairman.

Key information regarding the directors is disclosed in the “Board of Directors” section
of the annual report.

The Nominating Committee (“NC”) recommends all appointments and retirements

of directors. In addition, the NC also reviews annually the independence of each
director. The NC is of the view that the current Board comprises persons who as a
group, provide core competencies necessary to meet the Company’s targets and that
the current board size is adequate, taking into account the nature and scope of the
Company’s operations.

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Raffles Education Corp | ANNUAL REPORT 2006
 CORPORATE GOVERNANCE STATEMENT

Role of Chairman and Chief Executive Officer

The roles for both Chairman and Chief Executive Officer (“CEO”) in the Company are
assumed by Mr Chew Hua Seng. As such, Mr Chew bears executive responsibility for
the Company’s business as well as responsibility for the workings of the Board and
ensures that procedures are introduced to comply with the Code.

Although the roles and responsibilities for Chairman and CEO are vested in Mr Chew,
major decisions are made in consultation with the Board which comprises a majority of
independent and non-executive directors. The Board believes that there are adequate
measures in place against an uneven concentration of power and authority in one
individual.

Board Membership and Performance Nominating Committee (NC)

The Nominating Committee comprises 3 members, the majority of whom, including its
Chairman, are independent directors. The members of the NC are as follows:

1. Mr Henry Tan Song Kok, Chairman of the Nominating Committee and Independent
Director;
2. Mr Gay Chee Cheong, Non-executive Director; and
3. Prof Tan Teck Meng, Independent Director.

The principal functions of the NC are to:

1. Identify suitable candidates and review all nominations for the appointment to
the Board of Directors before making recommendations to the Board for
appointment.
2. Assess the independence of the directors annually and is of the opinion that the
directors who have been classified as independent under the “Board of
Directors” section are indeed independent.
3. Provide nominations for the re-appointment of directors, having regard to their
contribution and performance.

Access to Information

The Company provides the directors with regular management accounts and other
important and relevant information. The directors have also been provided with the
phone numbers and e-mail addresses of the Company’s senior management and
company secretary to facilitate access.

The Company Secretary will seek the appropriate independent and professional advice
as and when the directors, whether as a group or individually, need independent
professional advice.

The Company Secretary attends all Board meetings and is responsible for ensuring
that proper procedures at such meetings are followed. Together with the Company’s
management, they are responsible to ensure that the Company complies with the
requirements of the Companies Act, SGX-ST Listing Manual and other rules and
regulations that are applicable to the Company.

II. REMUNERATION MATTERS

Remuneration Committee (RC)

The Remuneration Committee comprises 3 members, the majority of whom, including

its Chairman, are independent directors. The members of the RC are as follows:

1. Prof Tan Teck Meng, Chairman of the Remuneration Committee and

Independent Director;
2. Mr Henry Tan Song Kok, Independent Director; and
3. Mr Chew Hua Seng, Chairman and Chief Executive Officer of the Company.

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ANNUAL REPORT 2006 | Raffles Education Corp
 CORPORATE GOVERNANCE STATEMENT

The principal functions of the RC are to:

1. Review and approve annually the remuneration to senior management

employees of the Group with a goal to recruit, motivate and retain employees
through competitive compensation and progressive policies.
2. Review and approve annually the remuneration for the directors.
3. Administer the RAFFLES EDUCATION CORP Employees’ Share Option
Scheme (Year 2001) (“the Scheme”).

The Chairman/Chief Executive Officer’s remuneration package includes a variable

bonus as well as share option elements, which are performance-related. All non-
executive directors and all independent directors will receive director’s fees and these
fees are subject to shareholders’ approval at the Company’s AGM.

Non-Executive Directors do not have service contracts with the Company and their
terms of appointment are specified in the Articles. The Chairman/CEO has a service
agreement for three years starting from July 1, 2005.

A breakdown of each individual director’s remuneration, in percentage terms showing

the level and mix for the year ended June 30, 2006, is as follows:

Director Fees Salary Other Benefits Total

Compensation
% % % %
Below S$250,000
Chew Hua Seng - - - -
Gay Chee Cheong 100 - - 100
Henry Tan Song Kok 100 - - 100
Chew Chin Hua* 100 - - 100
Tan Teck Meng** 100 - - 100

* Resigned as Director on 10 April 2006

** Appointed as Director on 13 January 2006

The RC administers the Scheme, in accordance with the rules as approved by

shareholders on August 28, 2000. Under the rules of this Scheme, our executive
and non-executive directors and employees of our Group have been granted
share options. Share options to be granted to employees and directors who are
controlling shareholders of the Company, are to be approved by independent
shareholders. Details of the share options granted pursuant to the Scheme are in
the Directors’ Report.

The remuneration of the top 5 key

Raffles Design Institute has been an executives (who are not directors)
is not disclosed in this report. The
extremely valuable experience as the Company believes that disclosure of the

knowledge imparted by our fellow remuneration of individual executives

is disadvantageous to its business
lecturers supports my great interest and interests, in view of the shortage of
talented and experienced personnel in
desired career in the broad and complex the education industry.

spectrum of the fashion industry. There are no persons occupying

- Pooja Wisnu Wardhana (India)
BA (Hons) Fashion Marketing & Management graduate.
managerial positions in the Company
who are related to a director or
substantial shareholder of the Company
or any of its principal subsidiaries who
earned more than $150,000 per annum
for the financial year ended June 30,
2006.

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Raffles Education Corp | ANNUAL REPORT 2006
 CORPORATE GOVERNANCE STATEMENT

III. ACCOUNTABILITY AND AUDIT My education at

Audit Committee (AC)
Raffles Design Institute
was definitely a
The Audit Committee comprises 3 members, all of whom are non-executive directors
with the Chairman and one member being independent directors.
contributing factor
to my success. What
The members of the AC are as follows:
I learnt at school
1. Mr Henry Tan Song Kok, Chairman of the Audit Committee and Independent helped me to be
Director;
2. Mr Gay Chee Cheong, Non-Executive Director; and
both competent
3. Prof Tan Teck Meng, Independent Director. and confident in my
The AC members bring with them extensive managerial and financial expertise. All of
professional life.
them are also members on the boards of various listed companies in Singapore. The
AC meets at least twice a year, with further meetings if circumstances require.
- Luke Elijah Lim (Singapore)
BA (Hons) Fashion Design graduate and owner of “to-a-tee”.
The AC assists the Board to maintain a high standard of corporate governance,
particularly in the areas of effective financial reporting and the adequacy of internal
control systems of the Group.

During the year the AC reviewed and approved the audit plans submitted by
both the internal and external auditors. The AC also reviewed and discussed the
announcements of the quarterly, half-year and full-year results. The AC reviewed the
findings and recommendations from the auditors.

The AC evaluates the assistance given by management to the external auditors and
also reviews any interested person transactions.

The AC has full access to management and is given the resources required for it to
discharge its functions. It has the full authority and discretion to invite any director or
executive officer to attend its meetings.

The AC has undertaken a review of all non-audit services provided by the external
auditors and is satisfied that it does not affect the independence of the auditors.

The AC meets with the external and internal auditors, without the presence of
management, at least once a year.

The external auditors have unrestricted access to the AC. The AC recommends
BDO Raffles to the Board of Directors for re-appointment as external auditors of the
Company.

Internal Controls

The Board believes that, in the absence of any evidence to the contrary, the
system of internal control maintained by the Group throughout the financial year
and up to the date of this report, provides reasonable, but not absolute, assurance
against material financial misstatements or loss, and include the safeguarding of
assets, the maintenance of proper accounting records, the reliability of financial
information, compliance with appropriate legislation, regulation and best practice,
and the identification and containment of business risk. The Board notes that
no system of internal control could provide absolute assurance against the
occurrence of material errors, poor judgement in decision-making, human error,
losses, fraud or other irregularities.

Internal Audit

The size of the operations of the Group does not warrant the Group having an in-house
internal audit function. The internal audit function is outsourced to a firm of certified
public accountants. The internal auditors report directly to the Chairman of the AC.

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ANNUAL REPORT 2006 | Raffles Education Corp
 CORPORATE GOVERNANCE STATEMENT

The AC reviews and approves the annual internal audit plans and reviews the scope
and results of internal audit procedures issued by the internal auditors.

IV. COMMUNICATIONS WITH SHAREHOLDERS

The Company holds analysts briefing after announcing its half-year and full-year results.
The announcements of results are published through the SGXNET and news releases.
All information on the Company’s new initiatives are first disseminated via SGXNET
followed by a news release. Results and annual reports are announced or issued within
the mandatory period.

All shareholders of the Company receive the annual report, circulars and notices
of the shareholders’ meetings. The notices are also advertised in newspapers. At
shareholders’ meetings, shareholders are given the opportunity to air their views and
ask directors or management questions regarding the Company.

The Company’s Articles of Association allow a shareholder of the Company to appoint

one or two proxies to attend and vote instead of the shareholder.

V. OTHERS
Director’s Attendance at Board & Committee Meetings

The number of Board and Committee meetings held in the financial year ended June
30, 2006 and the attendance at those meetings were as follows:

Board Audit Nomination Remuneration

Committee Committee Committee

Total no. of Total no. of Total no. of Total no. of

Meetings Held Meetings Held Meetings Held Meetings Held
4 5 1 1

Board Members No. of Meetings No. of Meetings No. of Meetings No. of Meetings
Attended Attended Attended Attended
Chew Hua Seng 4 5* 1* 1
Henry Tan Song Kok 4 5 1 1
Gay Chee Cheong 4 5 1 NA
Chew Chin Hua** 3 4 1 1
Tan Teck Meng*** 2 3 NA NA

* Attendance upon invitation of the Committee

** Resigned as Director on 10 April 2006
*** Appointed as Director on 13 January 2006

Risk Management

The Company regularly reviews and improves its business and operational activities
to take into account the risk management perspective. The Company seeks to
identify areas of significant business risks as well as appropriate measures to control
and mitigate these risks. The Company reviews all significant control policies and
procedures and highlights all significant matters to the AC.

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Raffles Education Corp | ANNUAL REPORT 2006
 CORPORATE GOVERNANCE STATEMENT

Securities Trading

The Company has adopted the SGX-ST Best Practices Guide with respect to
the dealings in securities for the guidance of directors and officers. In line with
the guidelines, directors and officers of the Company are not permitted to deal
in the Company’s shares during the period commencing one month before the
announcement of the Company’s results and ending on the date of the announcement
of the relevant results, or when they are in possession of any unpublished price
sensitive information on the Group.

Interested Person Transactions Policy

The Company has adopted an internal policy in respect to any transactions with
interested persons and has set out the procedures for periodic review and approval
of these transactions by the AC. For FY2006, there were no interested person
transactions.

An air castle, where all kinds of dreams

are waiting for you... Raffles Design
Institute provides the stairways leading
to the castle. You decide on how you are
going to climb up. Stairs are never easy to
climb. Whether you make it to the top, it all
depends on you.

- Juliana Chang (Singapore)

Advanced Diploma in Fashion Marketing & Management graduate and Fashion Retail Coordinator.

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ANNUAL REPORT 2006 | Raffles Education Corp
 CORPORATE INFORMATION

BOARD OF DIRECTORS

Mr Chew Hua Seng, Chairman & CEO

Mr Gay Chee Cheong, Non-Executive Director
Mr Henry Tan Song Kok, Independent Director
Prof Tan Teck Meng, Independent Director, appointed on 13 January 2006
Mr Chew Chin Hua, Independent Director, resigned on 10 April 2006

AUDIT COMMITTEE

Mr Henry Tan Song Kok, Chairman

Mr Gay Chee Cheong
Prof Tan Teck Meng

NOMINATING COMMITTEE

Mr Henry Tan Song Kok, Chairman

Mr Gay Chee Cheong
Prof Tan Teck Meng

REMUNERATION COMMITTEE

Prof Tan Teck Meng, Chairman

Mr Henry Tan Song Kok
Mr Chew Hua Seng

COMPANY SECRETARIES

Mr Lim Tiong Beng, CPA, appointed on 12 November 2004

REGISTERED OFFICE

11 Beach Road #01-02

Singapore 189675
Tel: (65) 6336 2270
Fax: (65) 6338 5167
www.raffles-education-corporation.com

AUDITORS

Messrs BDO Raffles

5 Shenton Way #07-01
UIC Building
Singapore 068808
Partner-in-charge: Mr Patrick Tay
Partner since financial year ended 2006

BANKER

United Overseas Bank Limited

80 Raffles Place UOB Plaza 1
Singapore 048624

HL Bank
20 Collyer Quay
#01-02 Tung Centre
Singapore 049319

SHARE REGISTRAR

Compact Administrative Services Pte Ltd

6 Shenton Way #28-09
DBS Building Tower Two
Singapore 068809

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Raffles Education Corp | ANNUAL REPORT 2006
 RAFFLES DESIGNERS

T
he Raffles Education Corporation is committed to nurturing creative talents
in the arts and design industry. With 14 design institutes in Asia, namely
Singapore, Bangkok (Thailand), Kuala Lumpur (Malaysia), Mumbai (India),
Sydney (Australia – Raffles KvB), Ho Chi Minh City (Vietnam), and the
remaining eight institutes in the People’s Republic of China located in Shanghai, Beijing,
Huizhou, Changchun, Guangzhou, Ningbo, Changzhou and Wuhan, we provide
premier quality design education in grooming individuals to meet rapidly changing
industry needs.

In 2006, Raffles Design Institute Singapore attained yet another milestone: 16 years
of unrivalled success in grooming top-notch individuals in the fields of Design and
Management.

Award-winners, who now graduate from Raffles Design Institute as Raffles Designers,
constantly challenge the boundaries of expression, innovation and creativity, producing
a solid body of work that exceeds industry standards. We thus, celebrate the
achievements of Raffles Designers, as they lend their creative inspiration to various
industries. Their glowing success marks the continual growth of Raffles Design Institute
as the leading provider of Design and Management courses in the Asia Pacific region,
and we look forward to more golden years to come.

The best part of this competition

is meeting prestigious fashion
designers from Taiwan,
such as Pan Yi Liang, who
graciously commented that the
workmanship and handiwork
was mature and professional.
The standards were also
very high in Taiwan this year
and I was lucky that my
collection had what judges
were looking for.

- Frank Hu (Taiwan)
BA (Hons) Fashion Design graduate and winner
of Mercedes-Benz Taiwan Fashion Award 2006.

22
ANNUAL REPORT 2006 | Raffles Education Corp
 RAFFLES DESIGNERS

In both competitions, I did an

in-dept research into their
company profile as well as
putting myself into their client’s
position. Together
with my designs,
I put together a
production that
consist not only
commercial value
but one that will
be appreciated
by the public. I
also learnt how to
be independent,
pursue originality and meeting
deadlines in a fast-pace
environment.

- Delcie Lam (Singapore)

Advanced Diploma Visual Communication graduate and
winner of Maybank Flash Card Design Competition 2006 and
PrimaDeli Cake Design 2006.

LEFT: Bai Jie (Beijing)

3rd prize for HEP Five Original Fashion Design Competition,
Osaka, Japan 2005/06

23
Raffles Education Corp | ANNUAL REPORT 2006
 RAFFLES DESIGNERS

For this wall design, I decided to use a semi-abstract style with

a variety of colours. The reason for this is to build a busy and
active tone. I added elements of music, fashion, food and art and
mixed it up, like a collage. There are also some transparency
effects and textures to add to that busy feel.
- Rachel Phylicia (Indonesia)
Current student for Advanced Diploma in Visual Communication
and merit award winner for Raffles Marketplace Design
Competition 2006.

With the fusion of symbolism, I used a

stylised Greek horn and apple to denote
abundant food and indulgence, wherein a
women rests, arm raised with a book on
her lap to seemingly conduct the flows of
intersecting spaces above her, the design
for which were inspired by the curves of
the treble and bass clef.
- Sheryse Tan (Singapore)
Current student for Advanced Diploma in Visual Communication
and merit award winner for Raffles Marketplace Design
Competition 2006.

24
ANNUAL REPORT 2006 | Raffles Education Corp
 RAFFLES DESIGNERS

Raffles Design has been a great stepping

stone for me as it helped me launch my
career in the fashion industry,
equipping me with invalable
skills and knowledge,
and preparing me for the
challenges ahead. With the
unflinching support and
generosity from our Principal,
Mr. Joe Spinelli as well as all
other dedicated lecturers of
the school, it has been truly an
inspiring journey of learning,
one which I am sure would continue
to benefit me in the days to come.
- Kathleen Loi (Singapore)
BA (Hons) Fashion Design graduate, finalist of Mercedes-
Benz Singapore Fashion Award 2006 and owner and
designer for “Rabbithabit”.

The end result is of utmost

importance and reaching ABOVE: Hana Yunita Haryanto (Indonesia)
Current student in BA (Hons) Product Design and winner for
Create Your Style with Swarovski Design Competition 2006.

the right end result so that

it just feels right.
LEFT: Debbie Chan (Singapore)
Advanced Diploma in Visual Communication graduate and graphic desiger for SONY Computer Entertainment Europe (SCEE).
25
Raffles Education Corp | ANNUAL REPORT 2006
 RAFFLES DESIGNERS

The lecturers in Raffles

Design Institute were
very approachable
and open-minded,
and entertaining
consultation sessions
outside lessons. We
really appreciate all
the times that you ABOVE: Lu Xin (Beijing)
Finalist for 2nd China Youth Fur Fashion

guys spent with us Design Competition.

working out the details

in our ads. Thanks for
going the extra mile
for us.
- Chen Kai’en & Deng Yingzhi (Singapore)
Current student in BA (Hons) Visual
Communication and participants of D&AD
Congress 2006, London.

ABOVE: Greg Pritchard (Product Design lecturer) with the finalists for “Shelter in a Cart”
International Design Competition 2006 - Raffles Design Institute, Shanghai
26
ANNUAL REPORT 2006 | Raffles Education Corp
 RAFFLES DESIGNERS

LEFT: Beijing Tourist Association/ Olympic Association Uniform Competition

2006 - Gold Award for Fashion Design students from Raffles Design
Institute, Beijing

LEFT: Club Med (Asia Pacific) Spring/

Summer Design Competition 2006
- Raffles Design Institute, Singapore

This competition
allows me to express
my ideas and to work
with the experts
during the making of
Edmund Ooi Kee Seong (Malaysia)
the jewelry. I am glad
Most Promising Designer for Malaysia International Fashion
Award (MIFA) 2006
to witness my design
being realised and given
the opportunity to work
with Larry Jewellery. I
look forward to knowing
how many pieces of my
design will be sold by
the end of the year. This
will be a good indication
of consumer recognition.

- Hana Yunita Haryanto (Indonesia)

Current student in BA (Hons) Product Design and winner for
LEFT: Alvin Tan (Malaysia) Rotary Jewelry Design Competition 2006.
Winner of Best Outfit for MODA Unity Show,
Belvedere Vodka Award 2006
27
Raffles Education Corp | ANNUAL REPORT 2006
 AWARD WINNERS
Mercedes-Benz Taiwan Fashion
Award 2006
Raffles Design Institute, Singapore
Winner: Frank Hu
Maybank Flash Card Design
Competition 2006
Raffles Design Institute, Singapore
Winner: Delcie Lam
D&AD Congress, London 2006
Raffles Design Institute, Singapore
Participants: Chen Kai’en & Deng Yingzhi
Rotary Jewelry Design Competition
2006
Raffles Design Institute, Singapore
Winner: Hana Yunita Haryanto
Preliminary Winners: Riswandi Tjahyono
& Lee Shao Peng
Create Your Style with Swarovski
Design Competition 2006
Raffles Design Institute, Singapore
Winner: Hana Yunita Haryanto
Finalists: Mei Cheng & Augustine
Furniture Design Award 2006
Raffles Design Institute, Singapore
Finalist: Riswandi Tjahyono
Hep Five Original Fashion Contest,
Osaka, Japan, Nov 2006
Raffles Design Institute, Singapore
Finalist: Tsai Ming Hung
Singapore Fashion Designers
Contest 2006
Raffles Design Institute, Singapore
Finalist: Shannon Lee (Singapore)
Topman, Topshop & Miss Sixty
Design Competition 2006
Raffles Design Institute, Singapore
Topman Winner: Miyuki Halim
Topshop Winner: Irene
Miss Sixty Winner: Sylvia Widjaja
Singapore Women’s Weekly Lingerie
Award 2006
Raffles Design Institute, Singapore
Winner: Alexandrea Yeo Mei Quin
Finalists: Ellyanna Widjaja, Yap Fei Ying,
Irene & Michelle Lee
Club Med (Asia Pacific) Spring/
Summer Design Competition 2006
Raffles Design Institute, Singapore
Winning Team: Ong Chao Hui,
Jessia, Sandra Sindusawarno, Caroline
Siahaan, Mellyun Mutiara, Naruda
Mongkonmaneepol & Ngo Thuy Tran
28
ANNUAL REPORT 2006 | Raffles Education Corp
Raffles Marketplace Design
Competition 2006
Raffles Design Institute, Singapore
Merit Award: Rachel Phylicia &
Sheryse Tan
SeaCAD Art 2 Part Computer
Rendering Competition 2006
Raffles Design Institute, Singapore
1st Prize: Brendon Koo Bin
2nd Prize: Jason Xia
3rd Prize: Mickey Lee Meng
The Crowbar Awards 2006
Raffles Design Institute, Singapore
Finalists: Antonio Eduardo Prasetyo,
Charina, Chen Kai’en, Chong Yu Ki,
Christie Lyle, Deng Yingzhi, Gajbar
Gautam Ashok, Hoe Hsin Loong,
Jonny Tjakra, Kathrin Grissemann,
Kattapat Wasiksiri (Sandy), Komyza
Daria, Margaretta Eriana, Marlene A.
Widjanarko, Neo Aik Yong (Craig),
Nguyen Dong Anh, Siti Nadia, Swee
Hwei Chung (Alan), Then-V-Thai Thumro.
Ngchai, Wong Weng Kay (Ken), Xie Jing
(Century) & Yufina Senohady
Crespi Trophy, Milan, Italy 2005/06
Raffles Design Institute, Singapore
Special Featured: Caroline, Adelle Ho,
Angela Shang, Diana Widjayanto, Chua
Chai Wen, Elina Lai, Jennifer Toh, Joyce
Zhang Kun & Mohamed Tameen
Asian Young Fashion Designers
Contest 2006
Raffles Design Institute, Singapore
Finalists: Tsai Ming Hung &
Heidi Koh Ai Seen
Raffles Design Institute, Kuala Lumpur
Finalist: Kiki Yao
Malaysia International Fashion Award
(MIFA) 2006
Raffles Design Institute, Kuala Lumpur
Most Promising Designer:
Edmund Ooi Kee Seong
Mickey Mouse T-Shirt Competition 2006
Raffles Design Institute, Kuala Lumpur
Winner: Alvin Tan Chee Yap
MODA Unity Show, Belvedere Vodka
Award 2006
Raffles Design Institute, Kuala Lumpur
Best Outfit: Alvin Tan Chee Yap
National Translator Association Logo
Competition 2006
Raffles Design Institute, Kuala Lumpur
Winner: Even Ren
Malaysia International Fashion
Association 2006
Finalists: Greence Mao, Davidson Tsui
& Lulu Wang
The Third Shanghai Education Expo
Fashion Design Programme 2006
Gold Medal Prize:
Raffles Design Institute, Shanghai
“Shelter in a Cart” International
Design Competition 2006
Raffles Design Institute, Shanghai
Finalists: Lance Jiang, Niki Cui, Miko Liu
& Catriona Gu
“No Problem” Short Film Productions
Competition 2006
Visual Commuication Department -
Raffles Design Institute, Shanghai
2nd Prize: Best Cinematography
Best Editing
Best Film
China Cup International Fashion
Design Contest 2006
Raffles Design Institute, Shanghai
Underwear / Beachwear Category
Finalists: Sarah Lu & Kathy Xia
Men’s Wear Category Finalist: Shelly Yu
Children’s Wear Category Excellent
Award: Sammi Jiang
Children’s Wear Category
Finalists: Natalie Wang & Michelle Hong
Women’s Wear Category, Best Fabric
Collection: Fanny Fan
Women’s Wear Category
Finalists: Nicole Huang & Winnie Liu
Beijing Tourist Association/ Olympic
Association Uniform Competition 2006
Gold Award: Raffles Design Institute,
Beijing
HEP Five Original Fashion Design
Competition, Osaka, Japan 2005/06
Raffles Design Institute, Beijing
3rd Prize: Bai Jie
China National Flash Design
Competition
Raffles Design Institute, Beijing
1st Prize: Zhang Can
MTV Wrigleys Competition Hong Kong
Raffles Design Institute, Beijing
1st Prize: Zhang Can