Raffles Medical Group - OCBC Investment 2017-04-03: Buys land in China to develop hospital

Raffles Medical Group - OCBC Investment 2017-04-03: Buys land in China to develop hospital RAFFLES MEDICAL GROUP LTD BSL.SI

Raffles Medical Group - Buys land in China to develop hospital

  • Raffles Medical Group (RMG) this morning announced that it has acquired a piece of land with estimated land area of 28,000 sqm together with an in-construction building thereon, located in the New North District of the Liangjiang New Area in Chongqing for the development of a 700- bed international tertiary general hospital. 
  • The construction is targeted to be completed in 2Q18 and the consideration payable for the land and the construction costs incurred up to end-Jan 17 was ~RMB188m. The hospital will provide high quality and comprehensive healthcare services to local, expatriate and international patients.
  • Recall that on 27 Feb, RMG announced a MOU to explore cooperation between Chongqing Liangjiang New Area Administrative Committee and RMG on healthcare related projects. 
  • We remain positive over RMG’s steady long-term growth outlook and reiterate BUY on RMG with an unchanged FV of S$1.60.




Jodie Foo OCBC Investment | http://www.ocbcresearch.com/ 2017-04-03
OCBC Investment SGX Stock Analyst Report BUY Maintain BUY 1.600 Same 1.600



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