The company intends to buy 100% of the issued share capital of the local dental group

 

[SINGAPORE]   Q& M Dental Group   : QC7 -1.9% on Wednesday (Mar 4) said it has entered a non-binding memorandum of understanding regarding the acquisition of an unnamed Singapore dental chain. 

 

The company intends to acquire 100 per cent of the issued share capital of the local dental group. 

 

The purchase consideration will be satisfied by Q& M Dental via a combination of cash and new ordinary shares, to be issued by the company. 

 

This move will reportedly have a profit guarantee of up to S$34 million over a period of five years, and a 15-year service agreement to be entered into by the sellers.

 

It is aligned with the group&rsquo s strategy to &ldquo continue strengthening and expanding its dental business in Singapore&rdquo , which remains its core market. 

 

&ldquo The acquisition is intended to support the company&rsquo s ongoing growth in Singapore by enhancing its existing network and capabilities in the domestic market,&rdquo Q& M Dental said. 

 

Q& M Dental declined to share further details of the target acquisition upon additional queries from The Business Times, due to confidentiality and competitive reasons at this juncture, though it highlighted that the group to be acquired is &ldquo big&rdquo . 

Telecoms and technology book the most net institutional inflow for the week

 

OVER the five trading sessions from Oct 31 to Nov 6, institutions were net sellers of Singapore stocks, with net institutional outflow of S$96 million.

 

Institutional flows 

Stocks that saw the highest net institutional outflow over the five sessions included   UOB   : U11 -0.12%,   CapitaLand Integrated Commercial Trust   : C38U +0.43%,   Mapletree Industrial Trust   : ME8U -0.49%,   China Sunsine Chemical Holdings   : QES 0%,   Sembcorp Industries   : U96 -0.31%,   Frasers Centrepoint Trust   : J69U +0.44%,   City Developments   : C09 0%,   Parkway Life Reit   : C2PU +0.25%,   Singapore Airlines   : C6L -0.3%, and   Singapore Exchange   : S68 -1.69% (SGX).

 

Meanwhile,   Singtel   : Z74 +2.89%,   OCBC   : O39 +3.43%,   Wilmar International   : F34 0%,   Keppel   : BN4 -1.74%,   Jardine Matheson Holdings   : J36 -0.94%,   UMS Integration   : 558 -1.95%,   Venture Corporation   : V03 -0.92%,   Jardine Cycle & Carriage   : C07 -1.21%,   Mapletree Pan Asia Commercial Trust   : N2IU -0.68%, and   Mapletree Logistics Trust   : M44U 0% led the net institutional inflow over the five sessions.

 

This saw the telecommunications and technology sectors book the most net institutional inflow for the week, while real estate investment trusts (Reits) and financial services led the net institutional outflow. 

 

Excluding the S$157 million net institutional outflow for the Reit sector, Singapore stocks booked net institutional inflow of S$60 million for the week.

 

Share buybacks

For the five trading sessions through to Nov 6, nine primary-listed companies conducted buybacks with a total consideration of S$16.4 million. UOB led the tally, buying back 240,000 of its shares at an average price of S$33.81 on Nov 6.

 

Director transactions

Over the five trading sessions, 40 director interests and substantial shareholdings were filed. 

 

Across more than 20 primary-listed stocks, directors or chief executive officers reported seven acquisitions and no disposals, while substantial shareholders recorded eight acquisitions and two disposals.

 

On Oct 31, Quan Min Holdings acquired 2.9 million shares of   Q& M Dental Group (Singapore)   : QC7 -1.94% at an average price of S$0.547 a share. This increased the total interest of non-independent executive director and group CEO Ng Chin Siau to 56.77 per cent, from 56.46 per cent previously. 

 

Dr Ng is responsible for the corporate direction of the group. He leads in all aspects of its business strategies, policy planning and business development in Singapore, Malaysia and China.

 

He has gradually increased his total interest from 53.09 per cent in April. Last month, Q& M Dental signed a non-binding memorandum of understanding for a proposed acquisition of a Thai company operating one of the country&rsquo s largest private dental clinic networks. 

 

The target runs over 30 clinics across Thailand, mainly in Bangkok and major north-eastern provinces, offering comprehensive dental services. Its network emphasises accessible, standardised care and has grown through strategic site expansion and brand development.

On Oct 22, Quan Min Holdings acquired 1,335,300 shares of   Q & M Dental   : QC7 +4% at an average price of S$0.49 a share. This increased the total interest of non-independent executive director and group CEO Ng Chin Siau to 55.26 per cent, from 55.40 per cent previously.