Healthway Medical Group (5NG.SG) +8.8% at $0.185 in active trade as company’s planned diversification into property development in China fuels hopes for additional income streams, according to Dow Jones.

The proposal, subject to shareholders’ approval, involves building medical facilities including hospitals, retirement homes, mixed developments comprising medical facilities and serviced apartments or hotels.

Funding, additional details yet to be disclosed. Ability to execute will be closely watched since property development not Healthway’s forte.

“I’m pretty uncertain about this. They will be a small player going into a gigantic market fighting with the big players,” says a dealer at foreign brokerage.

Company will form JV to undertake new business, with partners comprising several existing Healthway substantial shareholders. Immediate resistance at current August high of $0.195.