Alliance Healthcare Group announced on 30th May 2019, there were 480 valid applications received for the 1 million Offer Shares available for public subscription. In total, these applicants applied for an aggregate of approximately 18.3 million Offer Shares, with application monies received amounting to approximately S$3.7 million.
Excluding applications for 565,000 Placement Shares by connected persons and the persons mentioned in Rule 428 of the Rules of Catalist, based on the Invitation size of 32,000,000 Invitation Shares and the total remaining valid applications received amounting to 48,823,000 Invitation Shares (comprising valid applications received for 18,388,000 Public Offer Shares and 30,435,000 Placement Shares), the Invitation was approximately 1.53 times subscribed.
Dr Barry Thng Lip Mong (唐立茂), Executive Chairman and CEO of Alliance Healthcare welcome speech on media release.
We are heartened by the positive response to our IPO, which is an indication of investors’ confidence in Alliance Healthcare’s business fundamentals and commitment towards delivering cost-effective and evidence-based medical solutions by leveraging the use of technology.
ALLIANCE HEALTHCARE GROUP LIMITED is offering 32,000,000 shares for its IPO on Catalistat at $0.20 per share. The Group is offering 1mil shares to public and 31 mil shares as placement.
Market capitalization based on the offer price S$41.6 mil.
0 Shares 0 Market Cap style="display:block" data-ad-format="fluid" data-ad-layout-key="-fb+5w+4e-db+86" data-ad-client="ca-pub-8498806162034897" data-ad-slot="8374280204">
Business Overview
The group provide managed healthcare solutions to corporations and insurance companies by establishing an extensive network of medical services providers to deliver healthcare services to the employees of corporations or, as the case may be, insured members or policyholders of insurance companies.
Alliance Healthcare Network, comprises:
16 GP clinics under the “My Family Clinic” name, one GP clinic under the “Lee Clinic Pte. Ltd.” name and five specialist clinics which we own and operate in Singapore;
our panel of over 1,000 medical services providers in Singapore and Johor Bahru in Malaysia; and
our tie-ups with various GRHs;
Financial Highlight
The group revenue increase around 14% YoY and pharmaceutical services business segment contribute approximately S$2.2 million out of S$4.4 mil increase from FY17 to FY18.
GP clinics are in demend and with Managed healthcare solutions, more companies and insurance will work with the group.
Wholesale pharmaceutical license issued by the Health Science Authority (HSA), which allows it to undertake the wholesale distribution of pharmaceutical products to hospitals, pharmacies and clinics in Singapore.
What I don’t like
Over heavily depending on panel treatment where payment might not come in due to closure or dispute.
Subject to healthcare laws and regulations including licensing requirements which are subject to fines or loss of license.
With the aging population, GP services will be in demand and wholesales of pharmaceutical products is profiting. P/E at 11x and NAV at 6.03 cents. Dividend yield at 2.5%. This stock is worth a punt at $0.20 a shares. CIMB is doing book building and will close on 21st May. Contact your RM if your interested for placement.
DBS recently announced changes to Multiplier account on 1st May. There is a write up on the changes over here.
The Multiplier will require you to have salary credited and at least 1 of the 4 categories namely; Credit card spend, Home loan installment, Insurance and Investment.
Out of the 4 categories, we shall look at the simplest 2 to fulfill. The first will be Credit card spend where you just need to spend $1 every month or just set recurring payment to any low-cost subscription you have. For 2nd categories will be investment and while many are not investment savvy, the SSB bond ladder which is fully backed by Singapore Government. Your principal investment and interest payments won't be affected by the market.
The sweet spot to earn 2% interest will be monthly eligible transactions of $2500 and with 2 categories which can easily be done with just salary credit. Now, what is SSB Bond Ladder?
Singapore Saving Bond or SSB pays you coupon every 6 months and you will get your capital back when It mature which is 10 years period. The latest SSB rates is available here and here's how to build the ladder.
Assuming you start buying SSB from Jan 2019 for 6 months and each purchase is $500 which is the minimum sum. The total cost will be $3000 and the transaction fee of $12. This ladder will last you for 10 years and by then maybe Multiplier won't be around. With this trick, you are collecting an average of 2% interest from SSB and 2% from Multiplier.
As not everyone has a home loan with DBS and as the insurance they only take the first year premium as a valid transaction. It's rather pointless to focus on the 2 categories. To me, the easiest way to unlock 2 eligible categories will be Credit card spend and investment via SSB. Do note that for SSB purchase it can only be cash and not SRS account as the dividends won't be credited to your DBS account and you can purchase up to a cap of $200,000.
ALLIANCE HEALTHCARE GROUP LIMITED is offering 175,888,352 shares for its IPO on Catalistat $0.20 per share. Market capitalization based on the offer price S$35 mil. (Figure to be final after final offer document is lodge)
0 Shares 0 Market Cap style="display:block" data-ad-format="fluid" data-ad-layout-key="-fb+5w+4e-db+86" data-ad-client="ca-pub-8498806162034897" data-ad-slot="8374280204">
Business Overview
The group provide managed healthcare solutions to corporations and insurance companies by establishing an extensive network of medical services providers to deliver healthcare services to the employees of corporations or, as the case may be, insured members or policyholders of insurance companies.
Alliance Healthcare Network, comprises:
16 GP clinics under the “My Family Clinic” name, one GP clinic under the “Lee Clinic Pte. Ltd.” name and five specialist clinics which we own and operate in Singapore;
our panel of over 1,000 medical services providers in Singapore and Johor Bahru in Malaysia; and
our tie-ups with various GRHs;
Financial Highlight
The group revenue increase around 14% YoY and pharmaceutical services business segment contribute approximately S$2.2 million out of S$4.4 mil increase from FY17 to FY18.
GP clinics are in demend and with Managed healthcare solutions, more companies and insurance will work with the group.
Wholesale pharmaceutical license issued by the Health Science Authority (HSA), which allows it to undertake the wholesale distribution of pharmaceutical products to hospitals, pharmacies and clinics in Singapore.
What I don’t like
Over heavily depending on panel treatment where payment might not come in due to closure or dispute.
Subject to healthcare laws and regulations including licensing requirements which are subject to fines or loss of license.
With the aging population, GP services will be in demand and wholesales of pharmaceutical products is profiting. P/E at 11x and NAV at 6.03 cents. Dividend yield at 2.5%. This stock is worth a punt at $0.20 a shares. CIMB is doing book building and will close on 21st May. Contact your RM if your interested for placement.
From 1Q report, the group took in revenue of S$15.4 mil but after expenses, the group is in loss of S$6.1 mil.
If we take revenue S$15.4 mil and minus from the expenses, the group is left with S$52,000 as profit EBITDA. Other expenses of S$4.785 mil further hit the group and brings it to negative profit. The cash flow on hand is left with S$11.3 mil. If the next quarter, the group don't clock in extra revenues, I think we will see negative cash flow.
Point number 8 in their financial report reflect how badly the company is in currently. Even thou their international BU has an increased revenue of 87.7% but the revenue generation was lower than anticipated due to some project delays in 1Q2019. I think this point is valid as most likely the revenue will start to come in when the project is at near completion or completed.
Personally, I felt that this stock has lost its previous glory and on-road towards a loss-making company. This quarter 2Q is critical to the group as their cash is drying up.
Last month, Genting Singapore announced It will invest S$4.5b in renewal and refresh of the IR. The funding will be by internal funds and borrowings (which will likely start only from end-2020). The upgrading writeup is available here.
Genting Singapore Ltd released its Q1 FY19 results after trading hours on 9th May. Revenue drop 5% and gross profit of 16%. The figures are S$640 mil and S$286 mil respectively.
Due to lowered revenue, Net profit drops 5% to S$205 mil.
Gaming revenue drops 8% to S$430 mil while the non-gaming sector is increasing steadily. This is the eighth consecutive quarter of year-on-year revenue growth with higher spends per visitor. Hotel occupancy remained high at 93% during the quarter which means more tourists will be spending on F&B and attractions within RWS.
Under their debt which is due for repayment on 23 March 2020 is reclassified to current liabilities. The amount is S$680 mil and was voluntary full prepayment by the Group towards the end of Q1 financial period.
With the expansion of IR and Japan IR, I'm afraid Genting Singapore has to spend more on Capax and getting resources for Japan IR when the government officially publishes the National Guidelines and likely we won't see the Return of Investments within the next 5 years.
On my previous write up, my target price to enter this stock is 84 cents and it seems the target price is approaching. As of writing this post, the trading price is 91 cents.
No place to park your excess funds and want a flexible place to park while gaining a decent yield. SSB is the place for you to park your funds.
June 2019 SSB gives an average interest rate of 2.13% over the next 10 years and can be applied thru DBS/POSB, OCBC and UOB ATMs and Internet Banking. This bond will be reflected as “ SBJUN19 GX19060S ” in your CDP statement or “GX19060S” in your SRS statement and “ CDP-SBJUN19 ” in your bank statement.
Previously DBS tease about the new multiplier account with a cute rabbit. There is a previous write up on what could be the possible revised changes and the new T&C. The write up can be read here.
You will be able to earn interest rate from 1.55% to 3.8% per annual.
Account balance increased to $100,000
Salary and Spend
No minimum amount needed for any category as long as your monthly total eligible transactions add up to S$2,000 or more.
The number of categories remains the same with Salary as a compulsory requirement and 4 other categories. Below table showing how much interest you will receive base on your eligible spending per month and account balance in Multiplier account.
Credits: DBS
There is a calculator on DBS website where you can clink and play around and you will have the results on how much interest you will be earning per annual. I tried with what an average salary worker scenario and the results I get is 2.2% per annual.
Monthly installment (s) due on your home loan(s) with DBS/POSB will be recognized
Cash and Central Provision Fund (CPF) components included
POSB/DBS Insurance
In short, those insurance plans that are unwriting by POSB/DBS will be eligible. The full list can check from DBS Mulpliter website.
Investment with POSB/DBS
This is a little interesting as there are many ways to trigger this category. without much effort.
Credit your dividends to any DBS/POSB deposit account
Those investing with Reits or dividends shares shouldn't have this issue but need to plan on how to get dividends every month without fail (this can be quite tricky as companies might change their dividends policy like recently DBS changed the dividends from semi-annual to quarterly).
Luckily there is an alternative way and you only need to invest $500 over a consecutive period of 6 months. The method is called SSB Bond Ladder. How does this work? OK, SSB is semi-annual interest payout so If you apply for it for 6 months, you will have dividends credited into your DBS/POSB account.
Credits: Kyith
Purchase a Unit Trust via DBS/POSB
For point numnber 3, you can purchase G3B and ABF and switch around every 12 months. To me these 2 are the safest you can buy and hold shall you need to increase your total transaction.
Valid for Unit Trust Lump Sum Investments, Unit Trust Regular Savings Plan and POSB Invest-Saver purchased after opening your Multiplier Account
The investment amount of your Unit Trust Lump Sum Investment will be recognised after you free-look/cancellation period
Monthly contribution amount for Unit Trust Regular Savings Plan and/or POSB Invest-Saver will be recognised for the first 12 consecutive contributions per investment fund
Purchase(s) must be made in cash, not using funds from your CPF or Supplimentary Retirement Scheme (SRS) account
Trade in equities online via DBS
Fully settled "BUY" equity trades via Vickers Online will be recognised
For transactions via DBS Vickers online trading platforms, only the primary account holder will be accorded the transaction amount
Conclusion
The increase of account balance cap from $50,000 to $100,000 is much welcome for additional interest but do note that SDIC only covers up to $75,000. This account is good for those with excess cash and has more than $50,000 holding with DBS/POSB to fully benefits from the interests. There is another product from POSB which I believe not many people know is POSB Cashback Bonus. This product works the same way as Multiplier but It doesn't require you to have money In your account. For those that just started working, perhaps can have a look at it first before committing to Multiplier account
DSG Annual Report 2018[/caption]
