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Dear Shareholders
On behalf of the Board of Directors, I am pleased to present the Overseas Education
Limited (OEL) inaugural annual report for the financial year ended 31 December
2012 (FY2012). We take this opportunity to express our appreciation to all investors
for your support during our Initial Public Offering (IPO).
Our listing attracted substantial applications from institutional investors and
investment funds, with the sale of 150 million shares at $0.48 each, raising net
proceeds of $68 million. 166 staff members invested in OEL through the staff
shareholding tranche.
We will now implement our plan to build a new school campus.
Since Overseas Family School (OFS) first opened in September 1991, we have grown operationally and financially, to be a
significant Foreign System School (FSS) in Singapore, with 3,800 students of 70 nationalities, and 500 staff members.
Students are at the heart of our business. For over 20 years, commitment to their education and our focus on meeting their
needs has created a valued relationship with their families, our clients, in this wonderful, ethnically diverse, international
community we call OFS. Now it is our privilege to welcome OEL investors into this family.
Our advantages arise from our policies
To Maintain a Happy, Safe and Effective school for overseas families living in Singapore.
OFS is part of the infrastructure supporting Singapore’s foreign direct investment policies.
Student numbers continued increasing during the recent global financial downturns and OFS appears to be quite resilient in
financially difficult times.
Separation of the business and academic divisions of the school allows our Principals and academic faculty to professionally
focus on their students. The results are outstanding.
The administrative staff is mainly Singaporean, who focus on management, supporting the teaching programs and maintaining
the facilities. Their dedication is greatly appreciated.
Information Technology is important. Integrated software developed by our own team of skilled software engineers provides
a systems framework for all activities. This enhances each student’s learning, and helps OFS to operate more effectively and
efficiently.
As a K-12 educational institution, we prepare our students for university after graduation from OFS, and to be effective leaders
for the next generation.
In summary, our track record in K-12 education, is expected to continue attracting students from diverse nationalities,
encouraging active parent engagement, and lifting student academic, sporting, social and cultural performance beyond their
own expectations. All of this identifies OFS as a trusted name in private education.
Chairman & CEO’s Message to Shareholders
Overseas Education Limited
Overseas Education Limited AR 2012
Investing In Education 2
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