Between Nov 12 and 18, Quan Min Holdings acquired 7,584,300 shares of Q & M Dental Group (Singapore) Q& M Dental: QC7 +0.84% (Q & M) shares.

 

Quan Min Holdings is an investment holding company incorporated in Singapore and Q & M' s ultimate parent company.

 

The shares were acquired at an average price of 59.3 cents per share with a total consideration of S$4,497,276.

 

The acquisitions increased the deemed interest of founder and group CEO, Ng Chin Siau in Q & M from 51.60 per cent to 52.41 per cent.

 

Quan Min Holdings' direct holdings in Q & M also crossed above the 52.0 per cent threshold on Nov 16.

 

The acquisitions followed Q & M reporting on Nov 11 that its 9MFY21 (ended Sep 30) net profit had surged 154 per cent from 9MFY20, to S$35.4 million.

 

The group highlighted that it had grown stronger compared to the pre-Covid-19 period, with revenue rising by 58 per cent from S$36.5 million in Q4FY19 to S$57.7 million in Q3FY21, representing a 6.78 per cent quarterly compounded growth from Q4FY19 to Q3FY21.

 

Its Q3FY21 net profit after tax increased by 175 per cent to S$13.9 million, from S$5.1 million in Q3FY20.

 

Dr Ng attributed the group' s strong financial performance and accomplishments to its corporate values and philosophy that enables the group to attain sustainable growth.

 

After founding the group in 1996, Dr Ng is presently responsible for its corporate direction.

 

He leads the group in all aspects of its business strategies, policy planning and business development in Singapore, Malaysia and China.

 

As at Sep 30, Q & M' s number of dental clinics in Singapore has grown to 90, from 81 as at Sep 30, 2020.

 

Similarly, in Malaysia, the number of dental clinics has increased to 38, compared to 33 previously.

 

To support this growth, the group has also increased its total number of dentists to 270 as at Sep 30, 2021, compared to 250 previously.

 

In Q3FY21, the company opened three new clinics in Singapore, in Canberra Street, Bedok Reservoir and IMM shopping mall.