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Q&M dental
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Joelton
Supreme |
24-Apr-2026 11:46
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Q& M&rsquo s Ng in married deal with Asdew Acquisitions, Han Seng Juan and Bryan Lim involving 27 mil shares at 60 cents each Dr Ng Chin Siau, founder and CEO of Q& M Dental Group (SGX:QC7) , is yet again involved in another private, off-market transactions with external parties. In an April 23 SGX filing, Quan Min Holdings, an entity used by Ng and related parties to control Q& M Dental Group, disposed 27 million shares in the company on April 22 to Asdew Acquisitions, Han Seng Juan, and Bryan Lim via married deal. With a total consideration of $16.2 million, excluding brokerage and stamp duties, this translates to a price of 60 cents per share. The previous round of married deal, which involves Ng as well, occurred back in April 10, where Q& M Dental Group disposed 30 million shares of Aoxin (SGX:1D4) via married deal to Lion Global Investors. Shares of Q& M Dental closed 1.5 cents lower, or 2.48% down at 59 cents on April 23. |
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piscesmonkey
Supreme |
22-Apr-2026 15:44
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28m marroed deal at 60cents so far | ||||
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tkchua
Member |
22-Apr-2026 15:40
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Never before see such a huge volume more excitement in the pipeline
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piscesmonkey
Supreme |
22-Apr-2026 11:53
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Now 18m married deal
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piscesmonkey
Supreme |
22-Apr-2026 11:37
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10m married deal at 60cents. Aoxin going chiong up
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PQTPQK
Supreme |
22-Apr-2026 11:33
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Heavy vol today .. | ||||
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Joelton
Supreme |
18-Apr-2026 16:36
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Q& M&rsquo s acquisition spree inspires higher target prices, but execution is key Q& M Dental Group (SGX:QC7) , making no bones about its growth ambitions, has managed to attract some market interest. With its war chest recently replenished by a bond issue, the company has launched concurrent acquisitions of other dental groups in Thailand, Singapore, Australia and China via its separately listed subsidiary, Aoxin Q& M Dental Group. Q& M, led by founder and CEO Ng Chin Siau, has managed to secure institutional backing for his ventures, too. Notably, Lion Global Investors (LGI) had spent $9 million to buy 20 million shares at 45 cents each. More recently, LGI also took a stake in Aoxin (SGX:1D4) , paying $5.4 million to acquire 30 million shares from Q& M at 18 cents each. Following this deal, Q& M&rsquo s stake in Aoxin has been trimmed to 52.93%. Year to date, Q& M and Aoxin shares have gained 9.1% and 19.4% respectively, extending a gain of 114.3% and 377.8% since the start of 2025. However, while turning a bit more optimistic about the company, analysts covering this counter prefer to see whether the company can pull off this multi-pronged execution before they turn fully bullish on it. Paul Chew of PhillipCapital estimates that the total value of the acquisitions, to be paid using a combination of cash and shares, will be around $272 million. With more than 70 dental clinics to be added to the just over 100 that Q& M already operates. Depending on how the acquisitions are structured, these new clinics, estimates Chew, can bring in a profit guarantee of some $200 million over a five- to eight-year period, which varies from deal to deal, but alone will help generate earnings growth of 14% per year for the next three years. Upon completion of the acquisitions, Q& M could double its earnings. Chew&rsquo s post-acquisition earnings estimate for the current FY2026 is 3.5 cents per share, up 80%. His fair value, excluding amortisation of intangibles, is 95 cents per share. However, for now, Chew is applying a 50% discount on the earnings accretion from the pending completion of the acquisitions, leading nonetheless to a higher target price of 71 cents, up from 54.5 cents previously Prospects will shape up, but not immediately. &ldquo We view the long tenure of the share moratorium, service agreement and profit guarantee as equivalent to a permanent partnership to grow and scale up a new franchise and platform,&rdquo says Chew. More recently, Eric Ong of Maybank Securities has kept his call for this counter at &ldquo hold&rdquo as he believes that at current levels, Q& M&rsquo s share price represents a relatively balanced risk-reward ratio. Nonetheless, citing the ongoing acquisitions, Ong has raised his target from 43 cents to 64 cents. He likes this stock for possessing better capital flexibility, which is put to good use with the &ldquo strong desire&rdquo to expand significantly beyond the traditional markets of Singapore and Malaysia. As Q& M is still undertaking due diligence on these targets, Ong has not factored in the potential earnings contribution into his forecasts, given the timing and completion uncertainty. Based on Ong&rsquo s best-case scenario prediction, which is the completion of all three acquisitions by the end of this year, Q& M could potentially double its FY2027 earnings per share to three cents. &ldquo The total purchase amount for the acquisitions is about $270 million, with 60% of the consideration funded through cash and bank borrowings, and the remaining 40% consideration through equity (via the issuance of new shares), respectively,&rdquo Ong predicts. In the best-case scenario, he estimates a fair value of around 75 cents for Q& M, using a target multiple of 25 times the FY2027 fully diluted P/E ratio. In the worst-case scenario, which is the failure to complete all three M& As, Ong estimates Q& M could achieve a net profit of $14.3 million in FY2027, purely from organic growth driven by market share gains amid the continued expansion of its clinic network in Singapore and Malaysia. &ldquo Based on this scenario, our fair value would be 53 cents, pegged at the FY2027 P/E ratio of 35 times. We use a higher P/E ratio multiple due to lower execution and integration risks associated with organic expansion, while it is also able to channel its robust cash holdings of $117 million as at Dec 31, 2025, towards additional share buybacks and higher dividend payouts to shareholders instead of pursuing acquisitions,&rdquo Ong says. |
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Joelton
Supreme |
15-Apr-2026 12:18
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Maybank maintains &lsquo hold&rsquo for Q& M despite ambitious growth strategy execution of M& A key to re-rating Eric Ong of Maybank Securities has maintained a &ldquo hold&rdquo call and target price of 64 cents for Q& M Dental Group (SGX:QC7) (Q& M), given the relatively balanced risk-reward ratio for the ongoing potential M& As. In his April 14 report, Ong points out that Q& M recently embarked on an ambitious growth strategy through M& As across Australia, Thailand, Singapore, and China. &ldquo Notably, its expansion drive is supported by enhanced capital flexibility and a strong desire to quickly diversify its footprint beyond the traditional markets of Singapore and Malaysia,&rdquo Ong states. Last July, Q& M raised $130 million in notes under its $500 million multi-currency debt issuance programme, with net proceeds primarily intended to accelerate its M& A strategy. &ldquo To align interests with all parties, it is seeking a partnership-driven acquisition model with long-term service agreements and the issuance of Q& M shares subject to a moratorium as part of the consideration,&rdquo Ong adds. The analyst mentions that given the dental group is still undertaking due diligence on these targets, he has not factored in the potential earnings contribution into his forecasts given the timing and completion uncertainty. Based on Ong&rsquo s best-case scenario prediction, which is the completion of all three M& As, he forecast that Q& M could potentially double its FY2027&rsquo s earning per share to three cents assuming all three M& A are done by the end of this year. &ldquo The total purchase amount for the acquisitions is about $270 million, with 60% of the consideration funded through cash and bank borrowings, and the remaining 40% consideration through equity (via the issuance of new shares), respectively,&rdquo Ong predicts. With the best-case scenario, he estimates a fair value of around 75 cents for Q& M by using a target multiple of 25 times FY2027 fully diluted P/E ratio. On a worst-case scenario basis, which is failure to complete all three M& As, Ong estimates Q& M could achieve a net profit of $14.3 million in FY2027, purely from organic growth, contributed by market share gains amid the continued expansion of its clinic network in Singapore and Malaysia. &ldquo Based on this scenario, our fair value would be 53 cents, pegged at FY2027 P/E ratio of 35 times. We use a higher P/E ratio multiple due to lower execution and integration risks associated with organic expansion, while it is also able to channel its robust cash holdings of $117 million as at 31 Dec, 2025, towards additional share buybacks and higher dividend payouts to shareholders instead of pursuing acquisitions,&rdquo Ong says. |
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Joelton
Supreme |
14-Apr-2026 08:26
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Q& M and Lion Global Investors in married deal for 30 mil Aoxin shares changing hands at 18 cents each In an SGX filing dated April 13, Q& M Dental Group (Q& M) announced that on April 10, it has disposed 30 million shares of Aoxin Q& M Dental Group (Aoxin) via married deal to Lion Global Investors. With a total consideration of $5.4 million, excluding brokerage and stamp duties, this translates to a price of 18 cents per share. Following the April 10 married deal, Q& M&rsquo s stake in Aoxin has reduced from 55.87% to 52.93%. Back on March 27, Aoxin announced its plan to acquire a China-based dental group for RMB150 million, of which Aoxin will pay cash of RMB75 million and issue new shares at 30 cents each to fund the balance. So far, there has been no further announcement on this proposed acquisition. As at 9.51am, Aoxin shares are trading flat at 20.5 cents. Its share price has seen a gain of 310% for the past one year. |
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JurongW
Elite |
09-Apr-2026 20:24
Yells: "Earnings give weight, Chart give wings" |
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QM holdings bought 3,719,700 shares at $0.6012 on 9 Apr https://links.sgx.com/1.0.0/corporate-announcements/NH89IDFXNGMR6A4A/882821__eFORM3V2-09042026-QMH.pdf |
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JurongW
Elite |
08-Apr-2026 23:04
Yells: "Earnings give weight, Chart give wings" |
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QM holdings bought 4,095,100 shares at $0.5856 on 8 Apr https://links.sgx.com/1.0.0/corporate-announcements/S3SSAMHWLXRKIR6U/882612__eFORM3V2-08042026-QMH.pdf |
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JurongW
Elite |
07-Apr-2026 22:44
Yells: "Earnings give weight, Chart give wings" |
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QM holdings bought 2 million shares at $0.571 on 7 Apr https://links.sgx.com/1.0.0/corporate-announcements/05WWM4DD315XS9XD/882362__eFORM3V2-07042026-QMH.pdf |
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Joelton
Supreme |
07-Apr-2026 10:41
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Q& M' s Ng increases deemed stake in both Q& M and Aoxin Dr Ng Chin Siau, founder and CEO of Q& M Dental Group (SGX:QC7) (Q& M Dental), has tighten his grip on his growing dental chain and the separately-listed Aoxin Q& M Dental Group (SGX:1D4) (Aoxin). On April 6, Quan Min Holdings, an entity used by Ng and related parties to control Q& M Dental, paid about $1.7 million to buy 3.036 million shares from the open market, which works out to an average of 56.07 cents apiece. This brings the total stake under Quan Min Holdings from 56.7% to 57.02%, which translates to just slightly above 540 million shares. Under Ng, Q& M Dental is on an acquisition binge, pursuing three concurrent acquisitions in home ground Singapore, as well as Thailand and Australia. On the same day, Q& M Dental acquired 1.2 million shares in Aoxin for $221,400, which translates to an average price of 18.45 cents apiece. This latest open market purchase increases Q& M Dental&rsquo s stake in Aoxin from 53.61% to 53.73%. Aoxin recently announced plans to acquire a China-based dental group for RMB150 million. Shares of Q& M Dental closed at 56 cents on April 6, up 2.75% for the day and up nearly 90% in the past year. Aoxin, meanwhile, closed at 18.5 cents, down 0.54% for the day but up 516% in the past year. |
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tkchua
Member |
06-Apr-2026 20:39
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Preparing for shares dilution, once M& A deal are done, more shares need to issue. The director need to maintain at lease 50 percents holding. 60 cents coming less shares left in Open market
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JurongW
Elite |
06-Apr-2026 18:59
Yells: "Earnings give weight, Chart give wings" |
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QM Holdings purchased 3,036,900 shares at $0.56 on 6 Apr. https://links.sgx.com/1.0.0/corporate-announcements/V5YD58K8WBHH3KM6/882095__eFORM3V2-06042026-QMH.pdf |
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JurongW
Elite |
02-Apr-2026 22:21
Yells: "Earnings give weight, Chart give wings" |
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Purchase of shares by Quan Min Holdings https://links.sgx.com/1.0.0/corporate-announcements/RRXWV92EP6G0E5KT/881892__eFORM3V2-02042026-QMH.pdf
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Joelton
Supreme |
26-Mar-2026 09:23
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KGI and CGS International remain positive on Q& M Dental following recent FY2025 results and M& A updates Both KGI Securities and CGS International are keeping their respective &ldquo outperform&rdquo and &ldquo add&rdquo calls on Q& M Dental Group (Q& M) (SGX:QC7) following its recent FY2025 results and updates on their M& A progress. In a March 20 report, Chong Ting Shuo of KGI Securities says that the recent $130 million notes issuance at 3.95% will help Q& M to raise a larger cash balance and expand its capacity for organic rollout and tuck-in M& A, but that will also increase the hurdle for capital deployment. On the result front, Chong sees Q& M&rsquo s reported profit for FY2025 was mainly distorted by &ldquo accounting noise&rdquo . &ldquo FY2025 PATMI fell 35% y-o-y to $9.3 million, but this mainly reflected consolidation-related losses and financing-related charges. Profit excluding other gains/losses and MTN and PSP expenses were broadly flat at $17.0 million,&rdquo Chong says. On the M& A front, Chong explains that Q& M&rsquo s regional pipelines are now more concrete given active M& A progress across Australia, Thailand, Singapore and China. &ldquo The proposed Australian platform alone would add more than 40 clinics and 120 dentists, while the broader pipeline suggests FY2026 could mark the start of a more visible regional build-out,&rdquo Chong predicts. As such, Chong is reiterating &ldquo outperform&rdquo and raises Q& M&rsquo s 12 month target price to 65 cents. He is keeping the terminal growth at 2% while raising the WACC to 8% from the previous 6.6%, reflecting a more conservative cost of capital framework around deployment risk and terminal value sensitivity. On the other hand, Tay Wee Kuang of CGS International, in his March 13 report, believes that the completion of the potential M& A marks a significant milestone for Q& M as it allows the dental group to expand into two new geographies (Australia and Thailand). &ldquo In addition, the acquirers have provided Q& M with a profit guarantee of 5-8 years, with key personnel of the various MOU entering a 15-year service agreement with Q& M that we believe paves the way for sustainability of earnings growth upon completion of the acquisitions,&rdquo Tay adds. Meanwhile, the analyst mentions that due to the non-binding nature of the MOU while Q& M undertakes due diligence on the acquirers as well as uncertainty over the potential completion date of the respective acquisitions, he has not reflected the potential EPS impact in his forecasts. &ldquo However, we reduce our FY2026 and FY2027 EPS by 34.9% and 39.7% respectively due to recurring higher finance costs from Q& M&rsquo s $130 million MTN issuance last July to support its M& A plans,&rdquo Tay explains. Hence, Tay is reiterating his &ldquo add&rdquo call on Q& M with a higher target price of 68 cents, which takes into account a 126.7% premium over his target of FY2027 PE ratio of 20 times for the potential impact of its M& A plans. As at 4.42pm, shares in Q& M are trading 1 cent higher or 1.89% up at 54 cents. |
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Joelton
Supreme |
23-Mar-2026 11:19
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Q& M CEO&rsquo s deemed stake rises as group advances regional M& A strategy
On Mar 17, Dr Ng Chin Siau, founder and CEO of Q& M Dental Group : QC7 0%, saw his deemed interest in the firm rise after investment holding company Quan Min acquired 2,381,800 ordinary shares for a total consideration of S$1.33 million. This lifted his total interest from 56.4 per cent to 56.65 per cent, or 535.1 million shares.
This also followed two related announcements on a regional expansion strategy update, and a transaction-specific Australian memorandum of understanding (MOU).
On Mar 13, the dental group reaffirmed its regional expansion strategy, highlighting an active mergers and acquisitions pipeline across Australia, Thailand, Singapore and China, alongside disciplined organic growth.
It said this push is underpinned by strong operating momentum and capital flexibility, including the S$130 million raised in August 2025 under its multicurrency debt programme to support expansion and acquisitions.
Management noted that deal structures increasingly align long-term interests through service agreements and share-based consideration, supporting sustainable growth and execution across the region.
On Mar 11, Q& M announced it had entered a non-binding MOU for the proposed 100 per cent acquisition of an Australian dental group operating more than 40 clinics with about 120 dentists across multiple states.
The proposed deal values the target at A$144.5 million (S$132.1 million), combining cash, capital injection and share-based consideration, subject to a long-term moratorium. It is supported by a seven-year profit guarantee and 15-year service agreements.
Q& M said the transaction would provide an immediate and scalable platform in Australia, advancing its Asia-Pacific expansion plan, contingent on due diligence and regulatory approvals.
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Joelton
Supreme |
18-Mar-2026 09:51
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Q& M' s Ng raises deemed stake in company with open market buying at 55.9 cents apiece
Quan Min Holdings, an entity used by Dr Ng Chin Siau and related parties to control Q& M Dental Group, has increased its stake in the growing dental chain.
On March 17, Ng paid $1.33 million to buy 2.38 million shares from the open market, which works out to an average of 55.9 cents apiece.
This brings the total stake under Quan Min Holdings from 55.69% to 55.94%, or just over 528.32 million shares.
Under Ng, Q& M is on an acquisition binge, pursuing three concurrent acquisitions in home ground Singapore, as well as Thailand and Australia.
In China, Aoxin Q& M, its separately listed subsidiary, is in an " active" acquisition mode as well.
Q& M Dental Group shares closed at 56 cents on March 17, up 2.73% for the day and up 88.33% in the past year.
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JurongW
Elite |
17-Mar-2026 18:37
Yells: "Earnings give weight, Chart give wings" |
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QM Holdings Pte Ltd acquire 2,381,000 shares at $0.559 on 17 Mar 26 https://links.sgx.com/1.0.0/corporate-announcements/RZO106BQJE2YHUJ9/878573__eFORM3V2-17032026-QMH.pdf |
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