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Agree that the regulators should investigate such unusual trading activity ahead of the trading halt where the share price took a sudden plunge. It is quite obvious that the news was leaked and people acted to their advantage. Is this fair to minorities? The corporate governance of the company is also highly questionable given that they only called for a halt after being down more than 10%? Clearly there is no level playing field in the capital market and this is a classic case study.
Dannkh ( Date: 15-Apr-2021 10:19) Posted:
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SMG' s talks with third party lapse UOB Kay Hian still rooting for stock
HEALTHCARE services provider Singapore Medical Group (SMG) is no longer in talks with a third party regarding a possible transaction involving the company' s shares.
But UOB Kay Hian (UOBKH) is still excited about prospects for the stock, noting SMG' s " stellar growth prospects" in terms of " organic clinic growth, expansion overseas and telehealth" .
These are " under-appreciated by the market" , UOBKH said.
SMG saw a significant decline in the price of its shares on Wednesday afternoon. Trading on the stock was halted later that day.
On Thursday morning, SMG announced that the company and a third party it was in discussions with " have decided not to proceed with further exploration of the transaction at this stage" .
SMG had first notified investors about the talks in December, following a query about unusual trading in its shares.
The counter fell as low as 30.5 Singapore cents on Thursday, after the latest announcement was made, from 34.5 Singapore cents before the halt was called.
They recovered on Friday, however, to end at 34.5 Singapore cents, up 6.2 per cent or two cents.
UOBKH is maintaining its " buy" call on SMG, with an unchanged target price of 46 Singapore cents.
In a Friday report, UOBKH analyst Lucas Teng noted that the company was still in growth mode and that elective medical procedures remain on the high.
Furthermore, the group has a net cash position of S$15.8 million and continues to explore overseas mergers and acquisitions opportunities.
Mr Teng said that while a transaction could have unlocked value for the group, SMG is currently under-valued, given the recovery in domestic patient loads.
The group trades at an " attractive valuation" with a " proven track record of organic growth" , he added.
With SMG' s overseas expansion into markets such as Vietnam, where its aesthetic clinic can tap discretionary spending from the growing middle class and expatriate market, he said he believes SMG' s growth plans are " unmatched by peers" .
He also noted that SMG has tapped telemedicine - a market that has grown thanks to the Covid-19 pandemic.
UOBKH is forecasting earnings of S$13.3 million for SMG in FY2021. This implies a forward price-to-earnings (P/E) ratio of roughly 12 times for the stock, which UOBKH estimates is one standard deviation below its five-year average P/E and is also a discount to its peers.
Don?t worry.... lots of M&A... investment all temporary put on hold. As long as this is a good company. People will come for it once Covid is over or under control. Keep collecting when people throwing....
continue drop :(
Maybe I will change it to Superb Project...
mav1ryan ( Date: 15-Apr-2021 09:52) Posted:
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Yesterday seii down points towards insider activities.
Hope that Sgx/MAS can investigate into this...whether " Chinese wall"
has been breached.
Hope that Sgx/MAS can investigate into this...whether " Chinese wall"
has been breached.
bishan22 ( Date: 14-Apr-2021 21:55) Posted:
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Thks.
Invest1 ( Date: 15-Apr-2021 09:14) Posted:
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Rebound soon as the stock has already been sold by insiders prior to annoucement. Too late to short.
SmallSmall ( Date: 15-Apr-2021 09:19) Posted:
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the accum phase for this was very long and the ship to nowhere picked up a lot of passengers. usually when accum phase is v long, the eventual mark up or in this case mark down ' no eyes to see' . 
No more Super liao...
At 30c with dividend will give a return of 1.3%.
Better than most bank FD. Lower price better.
Better than most bank FD. Lower price better.
boonlaysg ( Date: 15-Apr-2021 09:30) Posted:
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ok. set up camp liaoz at 0.27. 
It stuck fr some time in 25ct lvl....
Sell on rumours buy on fact. :)
Broke support level yesterday before closing, dont ask y, trade w trend.
not sure if can catch the short sellers who cannot buy back yesterday...hahaha
I wonder could it be the major shareholders trying to privatise it. But shares went up too high and they want to privatise much lower.
Secondly, if really third party, then probably did not offer a good price for it. So it could be better to get a new deal.
Secondly, if really third party, then probably did not offer a good price for it. So it could be better to get a new deal.
come to mama at 25ct....
32.5cents
Dannkh ( Date: 15-Apr-2021 09:10) Posted:
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This is like failed enbloc, Can wait for another suitable partner.
What is the nav of this share?
What is the nav of this share?
Invest1 ( Date: 15-Apr-2021 09:02) Posted:
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