Rowsley

Thomson Medical Group posts 48% drop in 3Q earnings to $1.1 mil on higher operating expenses

SINGAPORE (Nov 10): Healthcare services provider Thomson Medical Group (TMG), formerly known as property group Rowsley, saw its earnings fall 48% to $1.1 million for the 3Q18 ended September, from $2.2 million a year ago.

The group’s profit from continuing healthcare operations fell 45% to $5.1 million in 3Q18, largely due to higher operating expenses owing to business expansion and cost inflation of goods, services and wages.

Thomson Medical's 1Q losses widen to $6.52 mil

SINGAPORE (May 14): Thomson Medical, formerly known as Rowsley, says first quarter losses widened to $6.5 million in 1Q18 from $1.55 million in 1Q17.

Revenue was 9% lower at $20.6 million compared to $22.6 million last year, mainly due to the consultancy business which has declined as a result of a slowdown in private sector building developments.

Other income increased by 25% to $3.19 million from $2.56 million a year ago, mainly attributable to higher wages reimbursement from the consultancy business.

Rowsley renames to Thomson Medical Group as shareholders approve healthcare acquisitions

SINGAPORE (Mar 24): The shareholders of Rowsley have voted in favour of the proposed healthcare acquisition from controlling shareholder Peter Lim Eng Hock.

The proposed acquisition includes a 100% stake in Thomson Medical and a 70.35% stake in Bursa-listed TMC Life Sciences (TMCLS) which owns Tropicana Medical Centre.

Rowsley says sale price of TMC Life Sciences warrants set at $34.8 mil

SINGAPORE (Mar 19): Rowsley says the cash consideration for the warrants of TMC Life Sciences (TMCLS) is set at RM103.75 million ($34.8 million).

This is derived from the volume weighted average price of TMCLS warrants traded on Bursa Securities for the one-month period to March 19 of MYR 0.1737 per warrant, multiplied by an aggregate of some 597.3 million TMCLS warrants.

As announced last Dec, Rowsley is acquiring the healthcare businesses of Thomson Medical from controlling shareholder Peter Lim for $1.6 billion.

Rowsley unveils plan to more than treble number of hospital beds by 2021

SINGAPORE (Mar 14): Real estate company Rowsley has unveiled plans to capitalise on the increasing demand for healthcare services in the region, ahead of an extraordinary general meeting (EGM) scheduled for Mar 23.

The EGM next Friday is to seek shareholders’ approval for, among other things, the proposed $1.6 billion acquisition of Sasteria from controlling shareholder Lim Eng Hock, better known as former remisier king Peter Lim.

Sasteria is the owner of Thomson Medical and the controlling shareholder of Malaysia-based TMC Life Sciences (TMCLS) with a 70.36% stake.

Rowsley reports smaller net loss of $58 mil on cusp of transformation into healthcare player

SINGAPORE (Mar 1): Rowsley reported a smaller net loss of $58.0 million in FY17 versus a net loss of $69.8 million in FY16.

The real estate company reported a 9% decrease in group revenue of $93.9 million for FY17 compared to $103.1 million in FY16.

Is Rowsley attractive now that price of Thomson Medical has been lowered?

SINGAPORE (Jan 8): Rowsley’s announcement in July last year that it would morph into a healthcare company has kept its stock trading heavily — and at rather rich valuations — for several months.

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Rowsley shares jump 23% on announcement of healthcare assets acquisition

SINGAPORE (Dec 18): Shares of Rowsley jumped 22.5%, or 2.5 cents, to close at 13.6 cents on Monday after the real estate and investment firm announced it is acquiring $1.6 billion worth of healthcare assets from controlling shareholder Peter Lim Eng Hock.

Rowsley on Monday entered into a sale and purchase agreement to acquire 100% of Sasteria from billionaire former stockbroker Lim.

Sasteria is the owner of Thomson Medical and the controlling shareholder of Malaysia-based TMC Life Sciences (TMCLS) with a 70.36% stake.

Rowsley reports 3Q net loss of $9.8 mil on fair value loss

SINGAPORE (Nov 3): Rowsley, the company controlled by Peter Lim Eng Hock, recorded a 3Q net loss of $9.8 million which included a $7.9 million fair value loss.

The fair value change arose from the remeasurement of the company’s purchase consideration payable in the earn-out shares related to the acquisitions it had made.

Right timing: Minor rebound could continue to build

SINGAPORE (Sept 22): Here are some charts this week for our technical analysis.

Straits Times Index (daily) 
A short term rebound is underway for the Straits Times Index (3,220), underpinned by the upturn in short term stochastics. This indicator has turned up smartly after wallowing around the bottom of its range for two weeks. ADX is rising, and the DIs remain negatively placed. These are positive signs. 

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