Singapore Medical Group (SMG)

SMG upgraded to 'buy on dips' by RHB as CHAS raises stake

SINGAPORE (June 7): RHB Research is upgrading Singapore Medical Group (SMG) to “buy” from “neutral” previously, with an unchanged target price of 48 cents.

SMG’s share price has fallen by 15% from 44.5 cents to 38 cents, which is a 52-week low since 10 May. This may have been due to recent market sentiment, coupled with the group’s higher operating cost as a result of ongoing expansion.

Singapore Medical Group kept at 'buy' on strong FY18 results, CHAS investment

SINGAPORE (Feb 21): RHB Research is maintaining Singapore Medical Group (SMG) at “buy” on news that shareholder CHA Healthcare Singapore (CHAS) is raising its stake in the group.

SMG calls for trading halt pending announcement as share price climbs 4.4%

SINGAPORE (Feb 20): Singapore Medical Group (SMG) at noon on Wednesday called for a trading halt “pending [the] release of [an] announcement”.

Within the first three hours of trading before it requested for the halt, SMG’s share price had climbed 4.4% to 47 cents.

This comes hot on the heels of SMG’s results announcement last evening, when it reported a 52.1% jump in full-year earnings to $12.9 million for the FY18 ended December, compared to FY17 earnings of $8.5 million.

Singapore Medical Group reports 17.2% higher 4Q earnings of $2.9 mil on revenue growth

SINGAPORE (Feb 19): Singapore Medical Group (SMG) posted a 17.2% rise in 4Q18 earnings to $2.9 million from $2.5 million a year ago, driven by increased revenue contributions from the health and diagnostic & aesthetic business segments.

Revenue for the latest quarter grew 18.1% to $22.2 million from $18.8 million in 4Q17.

The health business segment’s kids clinics, which were acquired in 2H17, contributed $0.7 million more to the latest quarter’s topline growth on top of the organic growth of existing specialist clinics.

Market valuations may be inexpensive but stay defensive: RHB

SINGAPORE (Jan 2): RHB Research prefers to stay selective and defensive amid growth uncertainties in 2019.

The Straits Times Index (STI), down 12% in USD terms, could remain under pressure this year amid slowing GDP growth and an uncertain trade outlook due to China-US tensions.

In a Wednesday report, analyst Shekhar Jaiswal says, “While 12.6x forward P/E and 4.2% dividend yield make the STI’s valuations look compelling, we recommend investors stay selective and focus on buying stocks offering stable earnings, strong balance sheets, and sustainable dividends.”

Singapore Medical Group kept at ‘buy’ for capturing market share from competitors

SINGAPORE (May 16): RHB Research says Singapore Medical Group must be doing something right to capture market share in the private medical practice space from its competitors.

In addition, SW1, the aesthetic and plastic surgery clinic that was acquired at the end of March, is already profitable and is expected to contribute positively to the group’s bottomline from 2Q18.

RHB Research expects steady quarters ahead with organic growth still strong at double-digit levels despite an estimated drop in medical tourism numbers.

Singapore Medical Group reports more than doubling of 1Q earnings to $3.4 mil on topline growth

SINGAPORE (May 15): Singapore Medical Group, the healthcare services provider with an expanding regional network, reported 1Q18 earnings more than doubled to $3.4 million from $1.4 million.

SMG says following its transformation into one of the largest specialist practitioners dedicated towards women’s health and wellness, the group reported a 37% increase in revenue to $19.2 million for 1Q18.

Transforming healthcare into a business

SINGAPORE (Mar 23): Tony Tan, non-executive chairman of Singapore Medical Group (SMG) co-founded Parkway Holdings in 1979 and was its managing director until 2000.

In 2002, he was appointed deputy chairman, a position he held until his retirement in 2005.

While Tan ran Parkway, the group evolved from a property company into a major healthcare player in Singapore, beginning with its acquisition of Gleneagles Hospital in 1987.

Back in the 1980s, healthcare was not thought of as a business, instead a “government thing”. But Tan saw an opportunity.

Record FY17 for Singapore Medical Group with FY18 expected to be stronger

SINGAPORE (Mar 2): RHB is maintaining its “buy” call on Singapore Medical Group (SMG) with a target price of 68 cents, as the group’s turnaround is further validated by organic and inorganic growth.

This came on the back of the group announcing that its FY17 earnings surged 250.8% to a record $8.5 million from $2.42 million in FY16.

See: Singapore Medical Group FY17 earnings surge 250.8% to $8.5 mil on higher revenue

More acquisitions likely for Singapore Medical Group in 2018

SINGAPORE (Mar 1): UOB Kay Hian is maintaining its “buy” call on Singapore Medical Group (SMG) with a P/E-based target price of 83 cents, pegged to the peer average FY18 P/E ratio of 26.8 times.

In a Thursday report, analyst Nicholas Leow highlights that the group’s 4Q17 results announced yesterday were in line with UOB’s estimates with FY17 earnings more than trebling to $8.5 mil due to earnings-accretive acquisitions made during the year – which in turn added other disciplines to the SMG specialist verticals.

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