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Old 17-02-2014, 01:22 PM   #61
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the no.1 rule of a public listed company is to communicate publicly with relevant information to your prospective shareholder.
then too bad if you stick to your ego.

you can try china s-chips. their IRs are probably free to answer. furthermore they are hungry to "eat" your capital.
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Old 17-02-2014, 01:37 PM   #62
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Take it easy, Mike.

stick with relevant information. I type based on what I have done my due diligence.

if you agree with me the term of public listed company, then you will say I am right. it's that simple.

If you still disagree with me, that's ok. I have no restriction in this forum to hide anything.
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Old 17-02-2014, 05:18 PM   #63
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the no.1 rule of a public listed company is to communicate publicly with relevant information to your prospective shareholder.
on 1 hand its good for a public listed company to communicate well
on the other hand, me as a shareholder should not judge a company by their IR.
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Old 17-02-2014, 05:35 PM   #64
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today on steroid. . sibei up
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Old 17-02-2014, 05:56 PM   #65
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Take it easy, Mike.

stick with relevant information. I type based on what I have done my due diligence.

if you agree with me the term of public listed company, then you will say I am right. it's that simple.

If you still disagree with me, that's ok. I have no restriction in this forum to hide anything.
you can be right in your definition. i dont care.

but the market is right with me. at least for now.

let me iterate, any dip is a buying opportunity for RMG. been accumulating since $2.30+.
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Old 17-02-2014, 05:59 PM   #66
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on 1 hand its good for a public listed company to communicate well
on the other hand, me as a shareholder should not judge a company by their IR.
some people have been missing the forest for the trees.
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Old 17-02-2014, 06:16 PM   #67
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some people have been missing the forest for the trees.
i dun understand the riddle
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Old 17-02-2014, 06:49 PM   #68
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on 1 hand its good for a public listed company to communicate well
on the other hand, me as a shareholder should not judge a company by their IR.
IR has got nothing to do with the company financial performance, so you can leave he/she out of the equation.

The message that I want to put across is their human resource (IR) is not doing enough for prospective shareholders. Hope my explanation is clear enough.
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Last edited by salesgp; 17-02-2014 at 06:54 PM..
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Old 30-04-2014, 10:45 AM   #69
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Time really flies. 1 year has passed and RMG is at a new high. I dont think i will have a chance to accumulate RMG at <$3 anymore. My trigger accumulation price has to move up to probably $3.30.
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Old 30-04-2014, 10:56 AM   #70
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Time really flies. 1 year has passed and RMG is at a new high. I dont think i will have a chance to accumulate RMG at <$3 anymore. My trigger accumulation price has to move up to probably $3.30.
Is RMG P/E more than 20? If yes, don't buy. Wait till it to drop. Unless its earning increase.
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Old 30-04-2014, 12:25 PM   #71
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Is RMG P/E more than 20? If yes, don't buy. Wait till it to drop. Unless its earning increase.
20 is not a magic number. If you trace back RMG, for the past few years its P/E has been hovering above 20. Wait somemore, maybe $4
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Old 30-04-2014, 02:30 PM   #72
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Revenue and PATMI grew 8% YoY
Expansion plans on track
FY14 core PATMI growth forecast of 12.1%
1Q14 results within our expectations
Raffles Medical Group (RMG) reported its 1Q14 results, with both revenue and PATMI increasing by 8.0% YoY to S$87.6m and S$14.6m, such that topline and bottomline formed 23.0% and 21.4% of our FY14 forecasts, respectively. This is within our expectations as 1Q is seasonally RMG’s weakest quarter. On a segmental basis, revenue for RMG’s Healthcare Services division rose 14.3% YoY, aided by the addition of more corporate contracts and increased volume of healthcare insurance services. Revenue for its Hospital Services segment grew by a more modest 4.8% YoY. Management highlighted that it experienced slower growth in its Indonesian patients market, which was likely due to the weak SGD-IDR exchange rate and uncertainties caused by the upcoming presidential elections. Nevertheless, we believe this softness is transient in nature, and RMG will continue to focus on providing high quality curative healthcare services and enhancing its specialist offerings.

Update on expansion plans
RMG has started construction work on its commercial building located at Holland Village in early Apr 2014, and management hopes this will be completed by end 2015. It is also working to finalise the development plans for its Raffles Hospital extension, which will boost its capacity by another 220,000 sf. RMG is targeting construction to commence in early 2H14, with a timeframe of ~24 months to completion. Its local projects have a remaining capital commitment of ~S$240m over the next 2.5 years, which we expect RMG to finance with its internal resources and debt. On the overseas expansion front, RMG is still in negotiations with its partners on working out the details for two separate greenfield hospital development projects in China, with the regulatory framework the main focal point of discussion.

Maintain BUY
We keep our forecasts intact and expect RMG to record revenue and core PATMI growth of 11.7% and 12.1% in FY14, respectively. Rolling forward our valuations to 30x blended FY14/15F EPS, we derive a higher fair value estimate of S$3.90 (previously S$3.68). Maintain BUY.

Source: OCBC Research - 29 Apr 2014
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Old 30-04-2014, 02:30 PM   #73
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1Q14 results slightly below expectations on slower-than-expected revenue growth. But margins remained healthy.

Tight capacity at existing Raffles Hospital may curtail growth for now but significant medium-term growth beckons with completion of extension projects in 2016.

Maintain BUY. Trim DCF-derived TP to SGD3.95, on lower earnings forecasts.

1Q14 results slightly below expectations
Raffles Medical reported 1Q14 revenue of SGD87.6m, up 8% YoY but down 1% QoQ as the first quarter is seasonally the weakest. Healthcare services grew 14.3% YoY and the hospital segment, 4.8% YoY. According to management, the hospital segment posted even growth in terms of volume and pricing, but it was still slightly below our expectations. Accordingly, we lower our revenue growth assumptions, as tight capacity at existing Raffles Hospital may curtail growth.

Margins stayed healthy as management continued to keep a tight lid on operating costs. Higher contracted services costs were largely due to a change in revenue mix, with higher growth coming from the corporate insurance business (healthcare services). This resulted in a net profit of SGD12.6m for 1Q14 (+8% YoY).

Maintain BUY
Management is still in talks with its China partners for two greenfield hospital projects. While the MOUs have a stop-date of Jun 2014, we believe this may be pushed back as the relevant parties iron out further details. We lower our FY14E-16E earnings by 3-5%. Earnings growth is likely to be below historical mid-teens over the next two years, but the company would have a significant growth trajectory once it’s Holland V and hospital extension projects are completed by 2016. We trim our DCF-based TP to SGD3.95 (previously SGD4.11). Maintain BUY.

Source: Maybank Kim Eng Research - 29 Apr 2014
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Old 30-04-2014, 02:31 PM   #74
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Target S$3.89 (Stock Rating: ADD)

1QFY14 core profit is in line with expectations at 20% of our FY14 estimate given the seasonality that typifies 1Q. At the briefing, management revealed its philosophy for sustainable longer-term volume growth. Also, with the combination of internal cash and leverage, there is room to raise dividend pay-outs. Our estimates are intact, although our target price rises as we lift our target multiple to 25x (from 23x) CY15 P/E, to reflects parity with regional peers. Higher healthcare dollars from the expansion of domestic operations and the China angle could catalyse its stock. Maintain Add.

Higher patient load
Higher patient load and patient acuity characterised the results. The increase in patient load from the expansion of the clinic network and more corporate contracts secured are fuelling growth. This is also helped by the higher volume of healthcare insurance services seen in 1Q14 as well as first fruits from the decision to add on more specialist consultants to its group practice late last year. As a result, the hospital and healthcare services divisions increased revenue by 4.8% yoy and 14.3% yoy, respectively.

Progressive increase in dividends
The group finished 1Q14 in a solid net cash position of S$93m, having invested S$186m in the purchase of properties and capex for expansion during the quarter. A robust balance sheet and strong free cash flow, with some leverage, will ensure that the group has the ability to fund the extension project and its Holland Village project (total c.S$270m investment capex) without sacrificing a progressive increase in dividends.

Volume key to sustainable growth
Management gave strong insights into its philosophy of continuous revenue growth through managing volume growth, then patient charges. The medical centre at Marina Bay Financial Centre (MBFC) is expected to be operational by June 2014 and will offer a more comprehensive range of services to patients, further enhancing 2H14 healthcare services revenue. The use of gearing is savvy and should strengthen its chances of succeeding given a more efficient capital structure. Dividends are not at risk while, in the longer term, the asset-recycling theme should also emerge.

Source: CIMB Daybreak - 29 April 2014, Full PDF Report
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Old 28-05-2014, 06:51 PM   #75
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some quality stocks are already breaking above their 52 weeks high.

i think RMG is poised to be the next breakout?
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