| Latest Forum Topics / Raffles Medical Last:0.945 -- |
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Raffles Medical
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Elf2000
Elite |
13-Mar-2024 14:50
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Nice bounce back👍 | |||||||||||||||||||||||||||||||||||
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Secret_Squirrel
Elite |
13-Mar-2024 14:17
Yells: "Stay curious but skeptical" |
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As share price rises, Chairman Loo bought lesser shares.  
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kiseki_2818
Master |
13-Mar-2024 10:54
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slowly climb up. hmm...if constructed engine also ok, then really for boom up. think ceo also think so. | |||||||||||||||||||||||||||||||||||
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Nippon72
Veteran |
09-Mar-2024 16:00
Yells: "Dude, is ALWAYS Time in the market than Timing the market! " |
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An individual effort is unlikely to move the price. Having skin in the game shows both the CEO, mgt & shareholders are aligned.  Many reasons to sell a stock, there is only one reason to buy especially using your own money. It must be good or up!  Vested. |
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Secret_Squirrel
Elite |
08-Mar-2024 18:12
Yells: "Stay curious but skeptical" |
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Between 27 Feb to 7 March, Executive Chairman Loo had bought 11.7 million shares. The full year results was released on 26 Feb but earnings drop.  The chairman seems  optimistic.  Buy so much, the share price also never goes up.    lol  
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Secret_Squirrel
Elite |
07-Mar-2024 10:33
Yells: "Stay curious but skeptical" |
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On 5/3, chairman Loo bought another 1.6 million shares. So he has already bought 9.6 million shares so far. This mornimg share price hooves between 99.5 cents to $1. So far until now only 83,200 shares transacted. lol
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PiRPiR
Master |
06-Mar-2024 17:18
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Tks
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JessTrang
Veteran |
06-Mar-2024 16:32
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SINGAPORE - In May 2017, listed property group Wing Tai Holdings, together with privately held Wing Tai Investment, made an unconditional takeover offer for Wing Tai Malaysia (WTM) at RM1.80 (51 Singapore cents) per share. The offer price was a premium of 52 per cent to the last traded price of the stock at RM1.18. The joint offerors, which included the founding Cheng family, owned approximately 66.13 per cent of WTM at the time of the offer. The net asset value (NAV) of WTM was at RM2.70 per share, effectively translating the offer price to a discount of 33 per cent to net tangible assets (NTA).   The people in charge at WTM are its managing director Cheng Wai Keung and his brother, executive director Edmund Cheng. The offer was a success and WTM was privatised. In Singapore, Wing Tai Holdings, which is listed on the Singapore Exchange (SGX), celebrated its 60th anniversary in 2023. The people in charge are Mr Cheng Wai Keung, who is chairman and managing director, and Mr Edmund Cheng, who is deputy chairman and deputy managing director. According to the company&rsquo s 2023 annual report, the two brothers, with their family and companies, own a combined 66.5 per cent of Wing Tai Holdings.  Any similarities to the Malaysian scenario here?   On Feb 6, Wing Tai announced that its half-year revenue had slid to $97 million, while net profit was down to $20.5 million.  The company attributed the decrease in revenue to the lower contribution from development properties, as most have already been sold. But what is interesting here is that the company&rsquo s cash and cash equivalents are now at a whopping $683 million. That translates to 90 cents per share in cash. And this translates to a NAV of $4.05 per share. The group&rsquo s net gearing ratio is at just 0.03 times. Despite the huge cash holdings, in July 2023, the company  rescinded an offer to buy Holland Tower in a collective sale deal  due to certain conditions that were not met. This might be a blessing, as prices in Singapore&rsquo s top-end condominium sector are looking somewhat wobbly after three years of post-Covid-19 surge.   So Wing Tai has no new developments on the horizon.  Is there more to look forward to? A clue may lie in the very aggressive share buyback by the owners of Wing Tai after the Holland Tower deal was called off. Ms Helen Chow, Mr Cheng Wai Keung&rsquo s wife, started buying shares in September 2023.  In all, she has bought Wing Tai shares on 57 occasions as at Feb 23.  From Sept 11 to Nov 3, 2023, Ms Chow bought shares every single day for eight consecutive weeks. She continued to buy shares after that, although not on a daily basis, all the way to February 2024. Her purchase prices would have been from above $1.40 to the low $1.20s. This is a company that has paid dividends for more than a decade without fail. It paid a dividend of three cents and a special dividend of two cents in 2023, making a total payout of five cents. So Ms Chow was obviously being savvy when the market was not. But is the dividend the only reason for buying so many shares? So aggressively? And in such a hurry? By October 2022, filings show the company itself had already bought back almost 34 million shares from the market, at prices ranging from just below $2 down to $1.50 levels.   As I have noted in previous articles, a company buys back shares because the management deems it the best use of the company&rsquo s cash. It presents no risk, and benefits the shareholders directly.  At $2, Wing Tai&rsquo s management made the judgment that the shares are just too cheap.  Indeed, at current prices &ndash the stock closed at $1.36 on Feb 27 &ndash Wing Tai is hugely undervalued. The company has a huge cash hoard and negligible gearing. And each stock is backed by more than $4 in assets. Given how the shares are unappreciated by the market, the company might be perfectly ripe for the owners to take it private, as they did in Malaysia. There is no reason for the management to go out and look for new projects, when the value is right under their noses. But whatever privatisation offer made has to be palatable to the remaining 33 per cent shareholdings not controlled by the owners. Market insiders reckon the offer price will have to be above $2 per share, but will probably be below $2.50. In other words, a premium high enough to be attractive to the public shareholders, but not too big a discount to NTA to be deemed &ldquo not fair&rdquo by independent financial advisers. Underappreciation and undervaluation are prompting many companies to contemplate delisting from the SGX. In 2022, 36 companies were delisted from the local bourse. In 2023, 25 were delisted. That makes it an average of 2.5 companies a month delisting in those 24 months.  There have yet to be any delistings in 2024. But given the low liquidity and lack of interest, especially where the mid-caps are concerned, it is almost a certainty that there will be some down the road. Given the very poor market conditions here, market players should perhaps identify a &ldquo potential delistings&rdquo portfolio. But I digress. Back to Wing Tai. Its market cap is currently at around $1 billion. Its net assets are above $3 billion. The company pays a decent dividend every year. There are several scenarios that can play out here. The company can decide it no longer needs such a huge cash stockpile because there are no projects in the works, and decide to give out a special dividend to shareholders. This is always possible because the owners control 66 per cent of the company. So the lion&rsquo s share of the dividend will go to them. It also helps that the owners of the company are wealthy. It means they will have no problems raising financing should they opt to privatise the company. In 2019, a private company held by Mr Cheng Wai Keung and his wife  sold a house in Nassim Road for $230 million.  It was the most expensive house ever sold at the time in Singapore, so raising financing for a privatisation would be no issue. Mr Cheng Wai Keung is 73 and his brother Edmund Cheng is 71. They are highly respected businessmen, but are now in their golden years.  They may want to privatise the company to unlock its value, the same way they did with Wing Tai Malaysia. This is especially if they believe it would be the best move for the company&rsquo s heirs and successors. The way that the family is buying back shares indicates that this is probably the most likely scenario.
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JessTrang
Veteran |
06-Mar-2024 16:27
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think in sgx, we look out for privatisation signs as investment, lol https://www.straitstimes.com/business/companies-markets/wing-tai-an-under-appreciated-property-play-ripe-for-privatisation  
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Secret_Squirrel
Elite |
06-Mar-2024 12:20
Yells: "Stay curious but skeptical" |
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After maket close today, let' s see whether chairman Loo still make any further purchase yesterday. Share price is now $1. This morning lowest at 98.5 cents |
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Secret_Squirrel
Elite |
05-Mar-2024 18:13
Yells: "Stay curious but skeptical" |
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In addtion, between 29/2 to 4/3,  Chariman Loo also bought an additional 3.5 million shares. Bought so much, likely that it is a great bargain for him. If he wanted to support share price, he could just bought at max a few hundred thousand shares as this is not a penny stock. In short he bought a total of 8 million shares between 27/2 to 4/3. Now the share price drop until $1, wonder whether he will buy somemore.  ![]()
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finjungle
Veteran |
04-Mar-2024 10:18
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Should' nt the chairman support the share price? Any lower may affected his own financing arrangement for other investments.
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Joelton
Supreme |
04-Mar-2024 10:15
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Raffles Medical Group
Between Feb 27 and 28, Raffles Medical Group : BSL 0% executive chairman Loo Choon Yong acquired 4.5 million shares at an average price of S$1.03 apiece. This increased his total interest to 53.27 per cent, from 53.02 per cent.
 
With the release of the group&rsquo s FY23 (ended Dec 31) results on Feb 26, he noted the group is cautiously optimistic in its 2024 outlook. He also said that despite geopolitical and economic headwinds, the group sees a growing demand for quality healthcare services in Singapore and the region.
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MHunter
Member |
28-Feb-2024 14:36
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Potential EP 1.10, currentlt at 1.03, enter?  https://www.facebook.com/groups/stockmoosg/permalink/915767186718729/?mibextid=c7yyfP | |||||||||||||||||||||||||||||||||||
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MambaFinancial89
Veteran |
26-Feb-2024 10:45
Yells: "Be greedy when others are fearful. " |
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[DBS] FY2023 Results Analysia: Normalised to pre-COVID levels - FY23 net profit fell 37% y-o-y to S$90.2mn, in line with our FY23 estimates. 2H23 net profit -63% y-o-y to S$30m has normalised close to pre-COVID levels.  - Hospital division remained strong while healthcare division was impacted by the absence of COVID-19 related services. 2H23 EBTIDA margin declined to 17% vs 26% in 1H23.  - China saw revenue growth but remains in gestation period. Management is prudently confident of the hospitals growth trajectory Continue to look for new opportunities regionally post partnership / potential acquisition of AIH Hospital in Vietnam - Maintain HOLD rating TP of S$1.00. Declared 2.4 Scts FY23 dividend. Normalisation post a stellar year in FY22 was within our expectation. What happened? Raffles Medicals FY23 net profit fell 37% to S$90.2m (in line with our estimates) as performance moderated post COVID coupled with a high base from an exceptionally stellar year in FY2022. 2H23 Revenue and net profit fell 13% y-o-y and 63% y-o-y to S$336m and S$30m respectively. FY23 EBITDA margin fell to 20.7% vs 21.6% in FY22. 2H23 EBITDA margin declined to 17.2% vs 33.6% in 2H22 and 25.8% in 1H23. 2H23 Hospital division remained strong with revenue and PBT grew 37% y-o-y and 41% y-o-y to S$191m and S$24m respectively. On the other hand, healthcare division, with the absence of COVID-19 related services, saw performance normalised with revenue and PBT fell 55% y-o-y and 91% y-o-y to S$122m and S$9m respectively.  Aside from the decline in healthcare division, RaffelsHealthInsurance (RHI) recorded operating loss of S$7m vs S$0.5m profit in FY22 despite delivering higher revenue +26% y-o-y to S$145m. The higher loss ratio which impacted its operating loss was in lines with industry trends. Declared FY2023 final core dividend of 2.4 Scts (-37% y-o-y) vs 3.8 Scts in FY22. Payout ratio of 49% of net profit.  While revenue from China saw 18% y-oy growth pose normalisation, gestational losses continue to weigh down on performance and profitability.  Our View Operationally, Raffles Medical continues to manage the 176-bed Transitional Care Facilities (TCF) at Expo until Feb 2025. Its China hospitals continue to gain traction and reputation from expatriates and local communities but remained to be in gestational period. Management is prudently confident of the hospitals growth trajectory. Following its recent partnership / potential acquisition of American International Hospital (AIH Hospital) in Ho Chi Minh City, management continues to explore new business opportunities regionally. We maintain our HOLD rating TP of S$1.00. Given the exceptionally strong earnings posted in FY22, FY23 has normalised closed to pre-COVID levels, as per our expectations. Nevertheless, we remain long-term positive on Raffles Medical, led by the long-term positive trend of the healthcare industry and potential ramp-up of its China hospitals as it reaches stabilisation and breakeven in the medium term.  |
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spursfan
Supreme |
26-Feb-2024 07:12
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https://links.sgx.com/1.0.0/corporate-announcements/SKS16KP34FYJ51Z8/789634_RafflesMedicalGroup_Media_Release_FY2023_Result_Announcement_26Feb2024.pdf | |||||||||||||||||||||||||||||||||||
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Secret_Squirrel
Elite |
24-Jan-2024 14:46
Yells: "Stay curious but skeptical" |
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Price now $1.02. Earlier today price hit $1.01 (52 week low). lol   |
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Secret_Squirrel
Elite |
28-Dec-2023 12:19
Yells: "Stay curious but skeptical" |
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This counter hasn' t move much yet despite higher patient load during this festive season. | |||||||||||||||||||||||||||||||||||
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Secret_Squirrel
Elite |
18-Dec-2023 10:29
Yells: "Stay curious but skeptical" |
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52 Week High/Low :1.520 - 1.010
So the price is still on the low side.
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Warrenz
Member |
17-Dec-2023 18:54
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I noticed huge crowds of patients in the clinics every day in tandem with the high cases of Covid cases. | |||||||||||||||||||||||||||||||||||
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