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china market losses since the 2010s is destroying RMG share price.
Dr Lu is stubborn or maybe happless about non-existing growth in the stagnant China market.
Look and learn from IHH and its profitable growth!
dont be stubborn, like a mule.
dydd
Dr Lu is stubborn or maybe happless about non-existing growth in the stagnant China market.
Look and learn from IHH and its profitable growth!
dont be stubborn, like a mule.
dydd
As Raffles Medical Group marks its 50th anniversary in 2026, wonder shareholders will be given bonus issue or special dividend to celebrate the golden jubilee?
sadly, DR Lu is PRC fetish.
He is burning shareholder value in PRC instead of investing in profitable markets such as Malaysia.
Dr LU is evasive and coy about the failing RMG China operations and financials since the 2010s.
No hope.
Dyodd.
He is burning shareholder value in PRC instead of investing in profitable markets such as Malaysia.
Dr LU is evasive and coy about the failing RMG China operations and financials since the 2010s.
No hope.
Dyodd.
Raffles Medical&rsquo s China business is underperforming but group says time is needed to deliver
Senior management has observed the sector for more than 30 years before considering venturing into the north Asian market
[SINGAPORE] The China business of Raffles Medical Group : BSL -0.97% accounts for 30 per cent of the group&rsquo s assets but only 10 per cent of revenue.
The Singapore group said overseas investments generally require more time to build scale, patient volumes and clinical capabilities before delivering stronger returns.
The medical group was commenting on Saturday (Apr 18) to questions from shareholders and Securities Investors Association (Singapore) ahead of its annual general meeting on Apr 24.
It was queried about the slow increase in its China business, which had raked in only S$25.4 million more in revenue over a seven-year period to S$65.4 million in FY2025.
Also, the group&rsquo s Singapore asset base is about 2.2 times that of its China assets, yet Singapore revenue is 10.4 times China revenue.
&ldquo This suggests a significant disparity in asset productivity between the two markets,&rdquo observed the questioner.
China is constrained by geopolitical and technological challenges, replied the board, adding that the market is an important one for the group as 30 per cent of its population can afford better healthcare.
Senior management has watched the liberalisation and development of the private healthcare market for more than 30 years before considering venturing into the north Asian market, the board noted.
&ldquo While we work upon initiatives that can deliver nearer-term impact, we also focus on longer term operational efficiency, increasing utilisation and strengthening margins,&rdquo it added.
Besides serving international expatriate families, Raffles Medical is also increasingly serving the locals as it has obtained the access to the local government insurance.
Raffles Medical closed S$0.01 or 1 per cent lower at S$1.02 on Friday.
Thank you for your reply.
alexvar ( Date: 27-Feb-2026 13:01) Posted:
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actually, that' s a main problem with RMG management.
Unlike IHH, Raffles med does not provide any reliable info about its China operations EBIT, net profits, investments, etc.
Raffles med only provides revenue & non-current assets for its China market.
They are destroying shareholder value in China, and are being very secretive about it since the 2010s.
10 YEARS OF " GESTATIONAL LOSSES" , lol
dydd
dydd
Unlike IHH, Raffles med does not provide any reliable info about its China operations EBIT, net profits, investments, etc.
Raffles med only provides revenue & non-current assets for its China market.
They are destroying shareholder value in China, and are being very secretive about it since the 2010s.
10 YEARS OF " GESTATIONAL LOSSES" , lol
dydd
dydd
Can you share some supporting data for Raffles group' s China hospital bussiness for your opinion?
alexvar ( Date: 26-Feb-2026 17:23) Posted:
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Dr Loo is full of it.
He is obsessed with PRC, and have lost millions of SGD there.
PRC market is like a black hole for RMG, sucking millions with 0 accountability from Dr Loo.
Just call " GESTATIONAL LOSSES" since the 2010s!.
such a shame.
He is obsessed with PRC, and have lost millions of SGD there.
PRC market is like a black hole for RMG, sucking millions with 0 accountability from Dr Loo.
Just call " GESTATIONAL LOSSES" since the 2010s!.
such a shame.
As Raffles Medical celebrates its golden jubilee, the doctor calls for more patience
Growth from the group&rsquo s defensive plays in China and Vietnam will take time
[SINGAPORE] For five decades, Raffles Medical Group (RMG) has been the reliable &ndash if somewhat staid &ndash pulse of Singapore&rsquo s private healthcare sector.
The critiques have been as consistent as its sterile hallways: too slow, too cautious, and too bogged down by the &ldquo gestational losses&rdquo of its ambitious China expansion.
And as the group enters its golden jubilee, executive chairman Dr Loo Choon Yong is doubling down on his &ldquo long-term play&rdquo philosophy.
But for shareholders watching the revenue growth slow to a pedestrian 0.3 per cent for the second half-year ended Dec 31, 2025, the bedside manner might be getting a little thin.
Dr Loo admitted that the regional middle class &ndash the former lifeblood of Singapore&rsquo s medical tourism &ndash is increasingly bypassing the city-state for destinations such as Kuala Lumpur and Bangkok.
In a sense, Singapore has become an &ldquo ICU for the ultra-rich&rdquo , catering to those who prioritise safety over cost.
&ldquo The very rich from the region will still come,&rdquo Dr Loo said at RMG&rsquo s results briefing earlier this week. &ldquo The top businessmen, the top generals or the top politicians &ndash they will all come to Singapore because they feel safer.&rdquo
But banking on the elite is a niche strategy, not a volume one.
&ldquo The shift from treating expats to courting the hai gui Chinese middle class is a smart pivot that is likely to pay off for Raffles Medical Group in the long term. But it&rsquo s happening against a backdrop of a cooling economy, where even the wealthy are checking their receipts. &rdquo
There is no denying that RMG&rsquo s Singapore core remains a formidable cash-generating machine. A 21.7 per cent jump in H2 net profit to S$38.5 million is a healthy result by any measure, underpinning a 20 per cent hike in dividends to S$0.03 per share.
According to analysts such as RHB Group&rsquo s Shekhar Jaiswal, there is a &ldquo favourable insurer-panel shift&rdquo that is reportedly diverting patient volumes towards RMG, away from more expensive private-sector peers.
RHB is maintaining &ldquo buy&rdquo on the stock with a target price of S$1.30 &ndash implying a potential upside of nearly 24 per cent from its closing price of S$1.05 on Wednesday (Feb 25). Jaiswal believes the company has scope for &ldquo defensive growth&rdquo as catalysts start to line up.
However, a closer look at the Singapore recovery reveals a structural ceiling.
Among other things, Dr Loo cited the strong Singapore dollar and high property costs as reasons for the middle class in the region to seek treatment elsewhere. And it is a problem that he foresaw as far back as 20 years ago.
&ldquo In the past, we had more foreign patients coming now, we cannot rely on this as a growth path,&rdquo he said. &ldquo That&rsquo s also the reason we progressively grew out of Singapore into the region.&rdquo
RMG&rsquo s solution is to follow the patients to China and Vietnam, but that&rsquo s a &ldquo build, don&rsquo t buy&rdquo strategy that eats cash today for the promise of a harvest a decade from now.
Defensive regional plays
Mainland China, however, remains the elephant in the consultation room.
Dr Loo is remarkably sanguine about its &ldquo painful&rdquo correction after decades of fast-paced growth, comparing the property overhang to Japan&rsquo s and Hong Kong&rsquo s past woes.
He points to China&rsquo s electric vehicle productivity &ndash with sales outperforming those of Elon Musk&rsquo s Tesla &ndash as a sign of underlying vigour.
But for RMG&rsquo s hospitals in China, the reality is a waiting game. The group is seeing some success, with Chinese patients &ndash instead of expats &ndash now making up the biggest share of its customers there.
These are mostly &ldquo hai gui&rdquo &ndash a Chinese term for returnees who have studied or worked overseas, Dr Loo said.
&ldquo They don&rsquo t want to go to the state hospital because the waiting time is very long and the service is not very personal,&rdquo he added.
The shift from treating expats to courting the hai gui Chinese middle class is a smart pivot that is likely to pay off for RMG in the long term. But it&rsquo s happening against a backdrop of a cooling economy, where even the wealthy are checking their receipts.
Still, Dr Loo remains &ldquo very confident&rdquo about the Chinese market. &ldquo It was an investment seriously made, but it will take a bit of time to come to fruition.&rdquo
If China is the complex, ageing patient, Vietnam is the &ldquo young Singapore&rdquo of 30 years ago.
Dr Loo&rsquo s eyes visibly brightened when discussing the 100 million-strong population in Vietnam &ndash young, eager, and increasingly willing to pay for personalised care to escape the long queues of a buckling public system.
The group is currently deep in due diligence &ndash which it expects to come to a conclusion by H1 2026 &ndash for a hospital acquisition in Vietnam. While it is a necessary hedge against Singapore&rsquo s maturing market, Dr Loo described it as a &ldquo medium to long-term play&rdquo .
After all, you don&rsquo t just buy a hospital and see earnings pop you buy, you improve, and you wait years for the reputation to bake in.
The Malaysia conundrum
Then there is the Johor-Singapore Special Economic Zone, the shiny new toy that every Singaporean corporate wants to play with. This is where the narrative gets interesting.
While rival Thomson Medical is busy sketching out 500-bed mega-hospitals in Johor, Dr Loo remains notably unenthused.
He questions the logic of a hospital that would struggle to compete with Singapore&rsquo s own heavily subsidised public healthcare system just across the Causeway.
&ldquo We have not made up our minds. We are studying, but initially it does not appear to make a lot of sense to us,&rdquo he said.
Indeed, why fight for a patient who is already getting 80 per cent off at a Singapore government hospital?
As analysts pointed out, RMG has a number of catalysts lined up that could put it on a growth path. But it will call for a healthy dose of patience.
The group may have bought itself time with a share buyback programme that provides a floor and an 84 per cent payout ratio that keeps the yield-seekers happy.
However, the market will soon want more it will want to see that the regional expansion isn&rsquo t just a defensive manoeuvre, but also a genuine growth engine.
For now, the doctor says to stay the course. But for those looking for a growth spurt, the recovery remains a strictly long-term prescription.
At some points buyers need to sell. It' s normal commercial activities. Not all sellings are sign for negativity. For example, Fidelity Investment has been sellding down Boustead from 9% to 8% even with positive news and developments taking place with regard to UI Boustead reit.
Mark001 ( Date: 24-Feb-2026 12:32) Posted:
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Indeed ,Global Alpha sold 331,100 of its 110,549,122,which only accounted for 0.3%. in total.
I don' t think it is Big issue.
I have no idea for the reason behind.
I don' t think it is Big issue.
I have no idea for the reason behind.
alexvar ( Date: 23-Feb-2026 18:49) Posted:
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Do what you believe in.
Wait and see.
Wait and see.
alexvar ( Date: 23-Feb-2026 18:49) Posted:
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Noteworthy, one of the largest shareholders -
Global Alpha Capital Management Ltd is dumping the RMG stock since 2025!
Global Alpha Capital Management Ltd is dumping the RMG stock since 2025!
Sinking ship: China annual revenues stuck at $65m SGD, in both 2024 and 2025.
no revenue growth.
China: continued losses.
continued cash drain for RMG since the 2010s.
Dr Loo continues to destroy shareholder money in China.!
Dydd
no revenue growth.
China: continued losses.
continued cash drain for RMG since the 2010s.
Dr Loo continues to destroy shareholder money in China.!
Dydd
Raffles Medical H2 profit rises 21.7% to S$38.5 million.
This is mainly due to improved performance from its hospital services and insurance businesses.
Dividend 0.03 is a good plus.
Boarded it today.
Huat!
This is mainly due to improved performance from its hospital services and insurance businesses.
Dividend 0.03 is a good plus.
Boarded it today.
Huat!
HVRRVH ( Date: 23-Feb-2026 11:01) Posted:
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China businesses stablising but it wasn' t a big improvement at all. Nontheless, company remains net high cash and from past trend, if share price dip below $1, the SBB will start. Effective cost control and partnership with Chinese medical entities bear friuts and see improvements on top and bottom lines with eps increased by 14.1%. 3 cents dividend which is 20% higher than preceding year' s dividend! Not bad.
HVRRVH ( Date: 19-May-2025 22:31) Posted:
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Raffles Medical H2 profit rises 21.7% to S$38.5 million
This is mainly due to improved performance from its hospital services and insurance businesses
[SINGAPORE] Raffles Medical Group : BSL -0.97% posted a 21.7 per cent rise in net profit to S$38.5 million for its second half ended Dec 31, 2025, from S$31.6 million in the previous corresponding period.
This was mainly due to improved performance from its hospital services and insurance businesses, as well as fair value gains on investment properties, the healthcare provider said in a media statement on Monday (Feb 23).
Earnings per share stood at S$0.0208 for the half year, up from S$0.017 the previous year.
Revenue for the second half rose 0.3 per cent to S$386.9 million, from S$385.9 million a year earlier.
A final dividend of S$0.03 per share was proposed for the year, up 20 per cent from S$0.025 per share the year before. Pending approval at the annual general meeting on Apr 24, 2026, the dividend will be paid on May 22 after books closure on May 14.
For the full year ended Dec 31, 2025, net profit was up 13.4 per cent on the year at S$70.6 million from S$62.2 million. Revenue increased 1.8 per cent to S$765.3 million from S$751.6 million.
Raffles Medical Group&rsquo s insurance arm, Raffles Health Insurance, recorded a revenue growth of 4.1 per cent, increasing from S$178 million to S$185.2 million in financial year 2025.
It also recorded a 50.6 per cent improvement in profitability for the full year, driven by contract repricing and disciplined claims management.
Shares of Raffles Medical Group closed S$0.01 or 1 per cent lower at S$1.02 on Friday before the release of the results.
No effect on the share price.
big mess up at raffles hospital!
At the coroner&rsquo s inquiry in 2025, the state coroner noted when Dr Fong Yan Kit realised an error had happened, he paused for 13 minutes during the procedure, but failed to call for help.
Obstruction of justice ?
At the coroner&rsquo s inquiry in 2025, the state coroner noted when Dr Fong Yan Kit realised an error had happened, he paused for 13 minutes during the procedure, but failed to call for help.
Obstruction of justice ?
enigma88 ( Date: 09-Feb-2026 11:14) Posted:
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