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    5OT   SG1Y37945678

SINGAPORE MEDICAL GROUP LIMITED

(5OT)
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Singapore Medical Group Limited completed the acquisition of remaining 50% stake in SMG International Pte. Ltd. from V Investment Pte. Ltd., Cheng Yong Liang, Wong Seng Weng, Richard Yong Chin-Wee and Ho Choon Hou.

09/13/2021 EST

Singapore Medical Group Limited (Catalist:5OT) entered into a sale and purchase agreement to acquire remaining 50% stake in SMG International (Vietnam) Pte. Ltd. from V Investment Pte. Ltd., Cheng Yong Liang, Wong Seng Weng, Richard Yong Chin-Wee and Ho Choon Hou for SGD 3 million on August 19, 2021. The aggregate consideration for the Proposed Acquisition is SGD 3.04 million, the consideration of SGD 0.429176 million payable to Wong Seng Weng and the consideration of SGD 0.429176 million payable to Ho Choon Hou will be satisfied entirely in cash. The consideration payable to the other Vendors, being Cheng Yong Liang, Richard Yong Chin-Wee and V Investment Pte. Ltd. will be satisfied partly in cash and partly in new Singapore Medical Group Limited Shares. The consideration of SGD 0.2144588 million payable in cash and 0.668499 million Singapore Medical Group Limited Shares to V Investment Pte. Ltd. The consideration of SGD 0.438118 million payable in cash and 1.364254 million Singapore Medical Group Limited Shares to Cheng Yong Liang. The consideration of SGD 0.438118 million payable in cash and 1.364254 million Singapore Medical Group Limited Shares to Richard Yong Chin-Wee. The Proposed Acquisition would result in the allotment and issue of 3,398,203 Consideration Shares of Singapore Medical Group Limited, representing approximately 0.7% of the enlarged issued and paid-up share capital of Singapore Medical Group Limited. SMG International (Vietnam) Pte issued and paid-up share capital of SGD 1.7 million comprising 1.7 ordinary shares. Singapore Medical Group Limited is acquiring 0.85 million shares of SMG International (Vietnam) Pte. V Investment Pte. Ltd. owns 7.06% representing 0.12 million shares of SMG International (Vietnam) Pte, Cheng Yong Liang owns 14.41% representing 0.245 million shares of SMG International (Vietnam) Pte, Wong Seng Weng owns 7.06% representing 0.12 million shares of SMG International (Vietnam) Pte, Richard Yong Chin-Wee owns 14.41% representing 0.245 million shares of SMG International (Vietnam) Pte and Ho Choon Hou owns 7.06% representing 0.12 million shares of SMG International (Vietnam) Pte. SMG International (Vietnam) Pte has a 32% equity interest in CityClinic Asia Investments Pte. Ltd. Singapore Medical Group Limited also holds a direct equity interest of 10% in CityClinic Asia Investments Pte. Ltd. Upon completion of the Proposed Acquisition, Singapore Medical Group Limited and together with its subsidiaries effective interest in CityClinic Asia Investments Pte. Ltd. will increase from 26% to 42%, comprising a direct interest of 10% holds by Singapore Medical Group Limited and an indirect interest held through SMG International (Vietnam) Pte of 32%. The Cash Consideration of SGD 1.949176 million is intended to be funded wholly by Singapore Medical Group Limited's internal resources. On completion of the Proposed Acquisition SMG International (Vietnam) Pte will be a wholly-owned subsidiary of Singapore Medical Group Limited. SMG International (Vietnam) Pte reported net asset value of SGD 0.753 million for six (6) months period ended June 30, 2021. The Completion of the Proposed Acquisition is conditional upon the certain conditions being satisfied, fulfilled or waived, as the case may be, before Completion, including (i) Singapore Medical Group Limited obtaining the approval in-principle from the SGX-ST for the listing and quotation of the Consideration Shares; and (ii) the representations and warranties provided by the Vendors in the SPA remaining true in all material respects and not misleading in any material respect as at the date of the SPA and at Completion. Singapore Medical Group Limited (Catalist:5OT) completed the acquisition of remaining 50% stake in SMG International (Vietnam) Pte. Ltd. from V Investment Pte. Ltd., Cheng Yong Liang, Wong Seng Weng, Richard Yong Chin-Wee and Ho Choon Hou on September 13, 2021. Post completion, the consideration shares are expected to be listed and quoted on the Catalist Board of the SGX-ST on or around September 15, 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2021 93,0 M 69,1 M 69,1 M
Net income 2021 14,0 M 10,4 M 10,4 M
Net Debt 2021 - - -
P/E ratio 2021 10,7x
Yield 2021 -
Capitalization 146 M 109 M 108 M
Capi. / Sales 2021 1,57x
Capi. / Sales 2022 1,35x
Nbr of Employees 294
Free-Float 49,4%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,30 SGD
Average target price 0,48 SGD
Spread / Average Target 60,0%
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Managers and Directors
Beng Teck Liang Chief Executive Officer & Executive Director
Sian Jing Wong Chief Financial Officer
Choon Keat Tan Non-Executive Chairman
Carolyn Goh Director-Information Technology Operations
Wing Kuen Yim Independent Director