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Moving into the crowded IP market.
Could it be a signal that their main business might be slowing down? I wonder how it would affect the valuation of this company, we probably have to use sum-of-the-parts in the future. But it is definitely good for consumers.
Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market
* Raffles Hospital Chongqing started under a Chongqing-Singapore government cooperation framework
* Company expects to open a second one in Shanghai by year end

Zheng Yangpeng  
Published: 7:30am, 25 Mar, 2019

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.

Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in Shanghai by year end. It also has clinics in eight mainland Chinese cities.

Loo, executive chairman and co-founder at Raffles, said in an interview he has waited 34 years to reach where he is today: “I have studied China’s system for 34 years. I worked through 100 hospitals in China and made friends with hospital presidents, physicians, consultancies all over the country … we are not typical foreigners.

“Hospitals are complicated institutions. To run them well and deliver proper care is never easy. It is not only investment in physical structures, but you need a management system and doctors who can look after patients like their own brothers and sisters.

“Each aspect is challenging and it has got to be a long-term investment,” he added.

Beijing permitted wholly foreign-owned hospitals in seven cities and provinces in 2014, but backtracked in 2015 and restricted foreign investment in health care to special cases.

“Some fringe policies have been introduced to allow further foreign investment, but only in limited geographic areas, which could be considered pilot programmes, and they have had very limited actual implementation,” said Kyle Freeman, a manager with law firm Dezan Shira & Associates.

Raffles Hospital Chongqing got off the ground because the government in Chongqing strongly welcomed it as it wanted to foster better services for foreign businesses. The hospital was helped by a Chongqing-Singapore government cooperation framework.

“We prefer to open hospitals in big coastal cities. We opened one in Chongqing because we were invited,” said Loo, adding that the conversation to open in China’s biggest cities was on going.

He said the hospital in Chongqing aims to serve people across China, and even abroad, as it is the only international hospital with such scale in western China. Patients come here from as far away as Urumqi, the capital of the Xinjiang Uygur autonomous region in northwest China.

“We are here to serve Chinese patients, and expatriates are just ‘by the way’. How many expatriates in China? Two million? How many top 20 per cent people in China? About 280 million. That’s six times more than Singaporeans,” he said.

Raffles is among the very first foreign businesses to independently open a hospital in mainland China, which holds huge potential because of a rapidly ageing population and growing middle class. But it is also presents a challenging regulatory environment.

More details in
matter of time temasick buy in...
Highlights of Q2 2019 Performance
1. Group achieved 5.6% growth in revenue to S$127.0 million
2. Revenue from Healthcare Services Division increased by 7.4%
3. Revenue from Hospital Services Division increased by 3.4%
4. Excluding the results of RafflesHospital Chongqing, the EBITDA would have been S$27.3 million, an increase of 9.3% instead of 0.3%
5. Construction cost of RafflesHospital Chongqing was well within the budgeted costs
6. The net profit after tax decreased by 15.7% to S$14.2 million due to gestation losses by RafflesHospital Chongqing
7. There were strong operating cashflows generated from the Group’s business operations, and they resulted in a healthy cash position of S$100.8 million
8. Interim Dividend of 0.5 cents payable on 30 August 2019
9. Based on the current conditions and barring unforeseen circumstances, the Group is expected to remain profitable in 2019 despite gestation losses for RafflesHospital Chongqing.

More details in :

Raffles Medical Group: Its profit after tax almost halved in the first quarter of this year, with the China healthcare division "severely" affected by the Covid-19 pandemic, the integrated healthcare provider announced on Monday. The counter closed at 87 Singapore cents on Friday, down 0.5 cent or 0.6 per cent.
Shanghai Hospital Launch
[Image: uc?id=18Aqbs1m4qbY4b9z6Dfk9cpvC2m7ecZHc]

1H2021 Result extracted:
[Image: uc?id=1Ct4WQoLYUI0JZwdo4-vSxEQUszkgm7cf]

One of my 2 vested stocks using CPF.
(26-07-2021, 07:10 AM)¯|_(ツ)_/¯ Wrote: [ -> ]RMG@121
1H2021 Result extracted:
[Image: uc?id=1Ct4WQoLYUI0JZwdo4-vSxEQUszkgm7cf]

One of my 2 vested stocks using CPF.

good result but they cut their div?
(26-07-2021, 08:42 AM)desmondxyz Wrote: [ -> ]good result but they cut their div?

Hi desmondxyz,

Please refer to their updated dividend guidance:

During the FY2020 results’ announcement earlier this year, the Board announced its intent to consolidate its
interim and final dividends with effect from FY2021 into an annual core dividend of up to half its average
sustainable PATMI. In view of the foregoing, the Directors will not be declaring any interim dividend. However,
for the transition year FY2021, the Group expects to pay a total final dividend of not less than 2.5 cents per
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