Thomson Medical

Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year.

Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year.

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.

Rowsley signs binding agreement to acquire $1.6 bil worth of healthcare assets from Peter Lim; to be renamed Thomson Medical Group

SINGAPORE (Dec 18): Rowsley today signed a binding agreement to acquire a 100% of Sasteria from controlling shareholder Lim Eng Hock, better known as Peter Lim, for $1.6 billion.

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

Following the acquisition, Rowsley will be changing its name to Thomson Medical Group, pending approval from shareholders.

How much will investors pay for Rowsley?

SINGAPORE (July 31): Billionaire former stockbroker Peter Lim is on his way to transforming Rowsley into a healthcare company — by injecting into the public-listed company assets that are already familiar to the market.

Before investors jump on the stock, however, they should look closely at the market value it has already garnered.

See: Rowsley shares up some 58% on deal to buy healthcare assets for $1.9 bil

Rowsley shares up some 58% on deal to buy healthcare assets for $1.9 bil

SINGAPORE (July 19): Rowsley shares this morning rose 57.5% or 4.2 cents to 11.5 cents with 159 million shares traded after announcing it has entered into an agreement to buy healthcare assets from its controlling shareholder in an all-share deal valued at $1.9 billion.

In a stock exchange filing on Tuesday night, the real estate company said the proposed acquisition involves buying a 100% stake in Thomson Medical and a 70.36% stake of TMC Life Sciences Bhd from controlling shareholder and Singapore billionaire Peter Lim Eng Hock.

Rowsley to acquire $1.9 bil in healthcare assets from controlling shareholder Peter Lim

SINGAPORE (July 18): Rowsley, the real estate and investment firm, is expanding into the healthcare sector in an acquisition of healthcare assets worth $1.9 billion from its controlling shareholder.

Singapore billionaire Peter Lim will inject 100% of Thomson Medical and 70.36% of TMC Life Sciences Berhad, a Bursa Malaysia listed company, into Rowsley.

The proposed acquisition will be financed through the issuance of new shares to Lim at 7.5 cents each, 0.2 cent higher than its last traded price of 7.3 cents before the trading halt for the announcement.

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