Opinions sought re. HKSRA insignia

[airtrooper]

Hi fellas I would appreciate your thoughts re these 2 badges I have been offered.
They are both out of Singapore.

I have a few doubts as to the pagri badge. i.e. is the felt good (Looks modern).
Did this badge ever have HKS over RA ?
In the new colonial badges book, there are 2 examples shown but all lettering is in one straight line.

Should I be concerned or am I being paranoid ?!