Financial intelligence for Asia's healthcare markets
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Al-‘Aqar Healthcare REIT, a subsidiary of KPJ Healthcare, has reported an 8% decline in profits for the first quarter of the year to M$15 million (US$3.5 million). At the same time, revenues fell 5.7% to M$24.9 million.
Retirement village operator Arvida has reported an 80% jump in profits for the year to NZ$54 million (US$37.8 million) on revenues that were up 23% to NZ$101.4 million. A significant driver of revenues was from the three villages in prime growth areas of Tauranga and Cambridge that Arvida acquired for NZ$66.4 million in September last year.
Siloam International Hospitals, Indonesia’s largest private hospital operator, is to acquire the Rumah Sakit Umum Putera Bahagia (RSUPB) private hospital in Cirebon for Rp130 billion (US$9.8 million).
Australian medical centre operator Primary Health Care has said that Peter Gregg will step down as managing director and CEO and that Malcolm Ashcroft, currently the CFO, will be appointed acting CEO, effective immediately. Ashcroft will undertake the role of acting CEO until Malcolm Parmenter commences as managing director and CEO on 6 September.
RHT Health Trust, the first business trust listed on the Singapore stock exchange with a portfolio comprising healthcare assets in India, has priced a S$60 million (US$43.2 million) tap of its 4.5% bonds due in July next year. DBS and UOB ran the deal.
Contract genomics organisation WuXi NextCODE is looking to raise up to US$200 million Series C funding by the end of July. Hillhouse Capital Group and Sequoia Capital China have been named as possible sources.
RHT Health Trust, the first business trust listed on the Singapore stock exchange with a portfolio comprising healthcare assets in India, has posted an 11.2% decline in distribution per unit of S$0.0597 for the year.
Concord Medical Services Holdings, the operator of the largest network of radiotherapy and diagnostic imaging centres in China, has acquired a 31.4% stake in Shanghai ProMed Cancer Centre. Financial terms have not been disclosed.


SGX-listed private healthcare provider Health Management International (HMI) has reported an actual loss in profits for the third quarter of the year of M$1.6 million (US$370,000), though stripping out exceptional items, profits were up 12% to M$7.1 million. The loss was predominantly down to one-off fees of M$7.3 million incurred during the group’s M$556.5 million consolidation of its two hospitals in Malaysia, however profits were also eroded by M$1.3 million in forex losses thanks to a weakening ringgit.
Shares in Cayman Islands-incorporated G Medical Innovations, which develops mobile health technologies, declined heavily on their ASX debut yesterday, dropping 30%.
Singapore-listed property developer Perennial Real Estate has reported a 356% rise in profits for the first quarter of the year to S$38.7 million (US$27.5 million) thanks to divestment gains in Singapore. Revenues for the same period slumped 31.5% to S$20.2 million largely due to lower project management fees and lower rental revenue.
First quarter results from Indonesian healthcare companies have been subdued. There is a sense of marking time rather than any major move forward for any of them. Indeed with the exception of Siloam International Hospitals, the country’s largest private hospital operator, the share price of its healthcare rivals are all showing a loss for the year.
In the first of a series from stock exchanges around the region, Josh Collard, listings business development manager at the Australian Securities Exchange, explains why the ASX is attractive to healthcare companies.
Jonathan Tan, director of Asia Pacific Risk Centre, explains how an aging population and the rise in non-communicable diseases is threatening the affordability of insurance premiums across the region.
“The Asia Pacific healthcare sector’s growth trajectory will be decidedly positive. The expansion of universal healthcare across the region will boost utilisation of medical services, even as the prevalence of chronic diseases rise in tandem with the shift in lifestyles and an ageing population,” says BMI Research in Singapore in a new report on healthcare in Asia.
After a visit to Myanmar, Jiadi Yu, principal investment officer at the IFC in Hong Kong, is optimistic about the country’s health market.

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All eyes were on China today. Last night, Moody’s downgraded the sovereign from A1 to Aa3 and with negative outlook on concerns about future growth and rising debt. It is the first general downgrade since 2010. “The downgrade reflects Moody’s expectation that China’s financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows,” the ratings agency said in a statement. The Shanghai Composite fell more than 1% at the open, though it has recovered somewhat and was last seen down 0.36%. Other regional indices sold off too: the ASX was a shade lower and the Hang Seng was off by 0.15%. The exception was the Nikkei which benefitted from safe haven buying and was up 0.58%.


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