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HEALTHCARE, MARKETS & INVESTING, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: Developers slam government's property cooling measure; Temasek's portfolio could reach $300b

And here's why Raffles Medical Group shares could yield higher in 2018.

From iCompareLoan:

The Real Estate Developer's Association of Singapore (Redas) slammed the surprise property cooling measures of the government saying that the market should be allowed time to take its course as it only started to pick up in 2017.

"Redas challenged the Government’s latest round of property cooling measures saying there was “no rationale” for the new property curbs imposed on Friday (July 6). REDAS, the leading developers’ group here, said the additional buyers’ stamp duty (ABSD) and lowering of the loan-to-value (LTV) limits were “tough” new regulations – “especially since the “property market is in the early stages of recovery and that the recovery is in line with economic fundamentals."

The developer’s group noted in their statement that market started to pick up only last year and the volume of transactions is within expectations and said that the market should be allowed time to find its own course."

Read more here.

From Reuters:

Temasek's portfolio could rise 9% to $300b from $275b due to its investments in DBS, some Chinese banks, and tech startups.

"Singapore state investor Temasek Holdings Pte Ltd [TEM.UL] is likely to book a record $300 billion (US$221 billion) for the value of its portfolio, powered by gains in DBS Group Ltd and Chinese banks, while it steps up investment in tech startups.

Analysts estimate Temasek, the top investor in about a third of companies in Singapore’s Straits Times index, to report a net portfolio value of about S$300 billion for the year ended March 31, up roughly 9 percent versus a nearly 14 percent increase to S$275 billion a year earlier."

Read more here.

From The Motley Fool:

Raffles Medical will see further expansion with two more hospitals in China.

"They are a 700-bed hospital in Chongqing and a 400-bed hospital in Shanghai. It also added a 20-storey extension to its current hospital in Singapore in January this year, expanding its specialist services, and increasing its bed capacity and clinic space.

Remarkably, Raffles Medical has achieved this tremendous growth mostly through its cash earned from operations. In 2017, the company generated around S$83 million in operating cash flow.

Despite massive investments needed for the two new hospitals, Raffles Medical, as of 31 March 2018, employed only S$72 million of debt and had a cash hoard of S$94 million, giving it a net cash position of S$22 million.

Read more here.

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