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Stocks In Focus SG (Far East HTrust, IFAST, Q&M Dental) – 29/04/15
Daily Bulletin | 29 April 2015
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Far East Hospitality Trust’s gross revenue for 1Q15 dropped 10.8 percent to $27.4 million as it experienced lower average occupancy and average daily rate. Coupled with a negative tax adjustment, income available for distribution fell 16.8 percent to $19.2 million. Going forward, it is expected that arrivals from regional markets will slow given the sluggish economic environment affecting corporate travel as well as the strong Singapore dollar continuing to weigh on the tourism sector. On the other hand, major sporting and meetings, incentives, conferencing, exhibitions events slated for this year in addition to upcoming attractions may help bolster demand.

iFAST Corporation reported a 49.1 percent rise in net profit to $3 million for the first quarter ended 31 March while revenue grew 19.3 percent to $20.9 million. The results were achieved by the growth of business and asset under administration in the group’s operations in Singapore, Hong Kong and Malaysia. The group’s two business divisions (Business-to-Customer and Business-to-Business) and geographical markets (Singapore, Hong Kong and Malaysia) showed growth in 1Q15.

Q&M Dental Group (Singapore) proposed to acquire TP Dental for $28.6 million and is on the lookout to do more mergers and acquisitions in Singapore. The group is paying $18 million in cash and remaining $10.6 million via new shares at $0.70668 per share to the owners of TP Dental. Q&M has a rough 60 clinics islandwide and around 180 dentists, which is one tenth of the entire dental clinic and dentists population in Singapore. The group hopes to provide more services to patients and take care of more education, in terms of training local and foreign dentists. Having raised $60 million through issuing a medium term note at 4.4 percent in March this year, the group plans to put its cash reserves to good use, to attract more dental-related firms to join the group. The group has plans to open more TP Dental centres in Singapore and expand overseas where Q&M has been building its presence.

Far East Hospitality Trust  0.660 +0.005 +0.76%   
Business: Invests in a diversified portfolio of income-producing hospitality-related real estate in Singapore. [FY18 Turnover] Hotels & services residences (80.6%), retails & offices (19.4%).

Insight: May-19, 1Q19 gross revenue increased 8% to $27.8m ... Read More
iFAST Corp  1.030 -0.010 -0.96%   
Business: Internet-based investment products distribution platform. [FY18 Geographical] Singapore (65.9%), Hong Kong (23.9%), Malaysia (8.9%), China (1.3%).

Insight: Apr-19, 1Q19, Co's assets under administration gre... Read More
Q&M Dental Group (S'pore)  0.490 +0.005 +1.03%   
Business: Co is a private dental healthcare provider in Asia. [FY18 Turnover] Primary healthcare (93.1%), dental equipment & supplies distribution (6.9%)

Insight: May-19, 1Q19 total revenue inched up 4.2% to $29.9... Read More

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