Housewife invests $1.5m in school chain after meeting geomancer

Housewife invests $1.5m in school chain after meeting geomancer

SINGAPORE - The founder of an education centre chain took a housewife to a geomancer in January last year, and he told her that she was suited to invest in education-related businesses.

A day later, Ms Xia Zhengyan, a Singapore permanent resident, signed an agreement to invest $1.5 million in Singaporean Geng Changqing’s Apple Plus School chain.

The geomancer also allegedly told Ms Xia that the success of her investment would depend solely on Ms Geng, and that Ms Xia should not interfere in the running of the business.

Ms Xia is now suing Ms Geng for allegedly misrepresenting the value of the Apple Plus brand.

The case is scheduled to be heard in the High Court on Nov 19.

In her statement of claim filed in April, Ms Xia, who is represented by Chia Wong LLP, said she got to know Ms Geng through a franchising exhibition at Marina Bay Sands in September 2011.

Ms Geng had founded Apple Plus School International in 2009, operating franchises of education centres offering enrichment classes for children under the name of Apple Plus School.

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