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This share is cheap but not moving up much. So it will move up slowly one is it?
SmallSmall ( Date: 24-May-2022 09:19) Posted:
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70% held by Lippo. They are actually big in Singapore Healthcare. They also owns Healthway Med
SmallSmall ( Date: 24-May-2022 09:15) Posted:
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Chiong ah !
OUE AND OUELH PARTNER THREE MEDICAL SPECIALIST GROUPS IN SINGAPORE FOR REGIONAL GROWTH &bull Strategic partnership with two of the leading Respiratory Specialist Practices and one Cardiothoracic Surgery Practice in Singapore &bull Building a healthcare business ecosystem anchored on Singapore&rsquo s medical best practices for regional growth Singapore - 23 May 2022 &ndash OUE Limited (&ldquo OUE&rdquo ) and its healthcare subsidiary, OUE Lippo Healthcare Limited (&ldquo OUELH&rdquo ) announced that their joint venture company known as Echo Healthcare Management Pte. Ltd. (&ldquo OUE JV&rdquo ) has formed a partnership with three medical specialist groups (the &ldquo Medical Partners&rdquo ) in Singapore. OUELH and OUE hold 60% and 40% respectively in OUE JV. Under the partnership, OUE JV and the respective founders of the Medical Partners will hold 60:40 shareholding in Echo Healthcare Services Pte. Ltd. (" HoldCo" ) respectively. HoldCo will in turn own 60% of each of the Medical Partners (&ldquo Proposed Transaction&rdquo ). The Medical Partners comprise two of the leading Respiratory Specialist Practices in Singapore - Respiratory Medical Associates and The Respiratory Practice, as well as a Cardiothoracic Surgery Practice operating as Thoracic & Cardiovascular Surgery Specialist. In total, there are 11 specialist doctors operating in the 10 clinics within the Medical Partners. Building a Sustainable Healthcare Ecosystem for Regional Growth OUELH&rsquo s regional healthcare network spans China, Myanmar, Indonesia, Japan and Singapore, providing the full spectrum of primary, secondary, tertiary and ancillary care services. Executive Chairman and Group CEO of OUE, Dr Stephen Riady said, &ldquo The partnership is an important milestone in our journey to build a regional healthcare ecosystem, comprising the full spectrum of tiered healthcare services anchored on Singapore&rsquo s medical best practices. We believe that the integration of the Medical Partners into the OUELH healthcare network will bring us one step closer to realising our vision in becoming a leading healthcare group in the region
OUE Lippo Healthcare trims H2 loss to S$2.5m, swings back to black for full year
CATALIST-LISTED OUE Lippo Healthcare $ OUE Lippo HC: 5WA +2.86% (OUELH) on Tuesday reported a net loss of S$2.5 million for the second half of the year ended December, versus a net loss of S$97.5 million in the corresponding year-ago period.
This translated to a loss per share of S$0.00056, versus a loss per share of S$0.02194 in H2 2020.
No dividend was declared for the period under review, unchanged from the previous year.
The company' s full-year earnings came in at S$111.4 million, reversing from a loss of S$98.7 million in the previous year.
Revenue for H2 inched down 1 per cent to S$10 million from S$10.1 million in the year-ago period. Cost of sales for the period was up 21 per cent to S$2.9 million from S$2.4 million.
For the full-year, revenue was down 2 per cent to S$19.7 million from S$20 million. OUELH' s topline, which mainly comprised rental income from its 12 nursing homes in Japan, revenue from its pharmaceutical distribution business and the Wuxi Lippo Xi Nan hospital in China, was down marginally due to the weaker exchange rate of Japanese yen to Singapore dollar.
Cost of sales for the year was up 6 per cent to S$5.1 million, due primarily to higher cost of sales incurred by Wuxi Lippo Xi Nan hospital as a result of ramping up its sales during the year from adapting its its services to the on-going Covid-19 pandemic.
The group, however, booked a 16 per cent decrease for the full year in administrative expenses due to stringent cost management and lower costs incurred in relation to corporate, merger and acquisition activities.
As at end-December, OUELH' s net current liabilities amounted to S$21.1 million due to a shareholder' s loan totalling $4.15 million that was accounted for as current liabilities, as well as provisions of S$22.5 million.
The board of directors, however, confirmed that the company is able to meet its debt obligations as and when they fall due in view of the continuing efforts by management to improve the financial position of the group.
In its outlook statement, OUELH said the Covid-19 pandemic continues to present challenges and uncertainties for the global economy, particularly with the recent emergence of the Omicron variant.
However, the company said more countries are adopting a " co-exist" approach towards the virus as global vaccination rates increase.
" While we are hopeful that the global economy will eventually recover, we remain cautious and will continue to monitor the global pandemic situation."
OUE Lippo Healthcare trims H2 loss to S$2.5m, swings back to black for full year
IHC ex group CEO charged for failing to submit statement to bankruptcy trustees
THE former group chief executive officer of International Healthway Corp (now known as OUE Lippo Healthcare), Fan Kow Hin, has been charged for failing to submit his statement of affairs to the trustees of his bankruptcy estate.
Fan, a bankrupt since March 2017, was required to file his statement of affairs that would disclose his assets and liabilities by Dec 24 last year, a deadline extended by the trustees of his bankruptcy estate.
However, he allegedly failed to comply with the requirement and now faces a charge under the Bankruptcy Act for which he is liable to a maximum fine of S$10,000, an imprisonment term not exceeding two years or both.
According to the law, a bankrupt must submit the statement of affairs within 21 days from the date of the bankruptcy order, as well as provide documents to support his declaration of assets, income and expenses.
Fan' s case will be mentioned in court on Oct 11.
The 65-year-old applied in 2017 to make himself a bankrupt on grounds of business failure.
The trustees of Fan' s bankruptcy estate have taken out a lawsuit against One Organisation and two others to seek the avoidance of transactions allegedly at an undervalue and unfair preferences in a bid to claw back claims. Judgment for the lawsuit is pending.
Fan was previously the group CEO and a co-founder of the Catalist-listed International Healthway Corp from May 2015 to January 2016, and the executive chairman of Healthway Medical Corp prior to that.
OUE Lippo Healthcare' s CFO resigns to ' pursue other career opportunities'
OUE Lippo Healthcare announced on Friday that its chief financial officer (CFO) Vincent Yik Yen Shan has tendered his resignation to pursue other career opportunities, slightly more than two years after taking on the role.His last day of service with the company will be Nov 30. He took on the role on July 1, 2019.
The company is looking for a suitable replacement for the position and will make an announcement when this is done.
The company' s sponsor PrimePartners said that after having interviewed Mr Yik, there appears to be no other material reasons for his departure from the post and the company. There are also no concerns regarding financial reporting or disagreement with the board that would have affected the company' s financial reporting that led to his resignation as CFO, said the company in a filing.
One-off loan conversion boosts OUE Lippo Healthcare' s H2 profit to S$113.8m
CATALIST-LISTED OUE Lippo Healthcare $ OUE Lippo HC: 5WA -4.76% (OUELH) posted a net profit of S$113.8 million for the six months ended June, boosted by a one-off S$110 million gain from a shareholder loan conversion.
Excluding the gain, the company posted a S$3.67 million net profit for the period, reversing the year-ago loss of S$1.26 million.
OUELH' s revenue dipped 2 per cent year-on-year to S$9.67 million, mainly due to the weaker exchange rate of Japanese yen to Singapore dollar. Its revenue comprises rental income from 12 nursing homes in Japan, as well as earnings from pharmaceutical distribution and the Wuxi Lippo Xi Nan hospital in China.
The weaker exchange rate also contributed to a 10 per cent fall in OUELH' s cost of sales for the half-year. Another reason for this was lower sales from the pharmaceutical distribution business, which was affected by delays in customers' orders.
Looking ahead, OUELH is closely monitoring the Covid-19 situation in China, given new Delta variant cases in the country. The construction of China Merchants - Lippo Obstetrics & Gynaecology Changshu Hospital and China Merchants - Lippo General Hospital Prince Bay Hospital are ongoing as planned. The hospitals are expected to commission in 2023 and 2024 respectively.
It is also remaining cautious in Japan. " Given that Japan is still in the midst of the latest Covid-19 wave, we will continue to monitor the situation closely," the company said.
Meanwhile, OUELH' s joint venture hospitals in Myanmar also continue to operate despite the political instability. The Pun Hlaing Hospital Hlaing Tharyar in Yangon has been designated as one of the few private hospitals to test and treat Covid-19 patients. The Myanmar operations are not expected to impact OUELH' s results for this financial year.
One-off loan conversion boosts OUE Lippo Healthcare' s H2 profit to S$113.8m
Catalist-listed OUE Lippo Healthcare (OUELH) posted a net profit of S$113.8 million for the six months ended June, boosted by a one-off S$110 million gain from a shareholder loan conversion.Excluding the gain, the company posted a S$3.67 million net profit for the period, reversing the year-ago loss of S$1.26 million.
OUELH' s revenue dipped 2 per cent year-on-year to S$9.67 million, mainly due to the weaker exchange rate of Japanese yen to Singapore dollar. Its revenue comprises rental income from 12 nursing homes in Japan, as well as earnings from pharmaceutical distribution and the Wuxi Lippo Xi Nan hospital in China.
The weaker exchange rate also contributed to a 10 per cent fall in OUELH' s cost of sales for the half-year. Another reason for this was lower sales from the pharmaceutical distribution business, which was affected by delays in customers' orders.
Looking ahead, OUELH is closely monitoring the Covid-19 situation in China, given new Delta variant cases in the country. The construction of China Merchants - Lippo Obstetrics & Gynaecology Changshu Hospital and China Merchants - Lippo General Hospital Prince Bay Hospital are ongoing as planned. The hospitals are expected to commission in 2023 and 2024 respectively.
It is also remaining cautious in Japan. " Given that Japan is still in the midst of the latest Covid-19 wave, we will continue to monitor the situation closely," the company said.
Meanwhile, OUELH' s joint venture hospitals in Myanmar also continue to operate despite the political instability. The Pun Hlaing Hospital Hlaing Tharyar in Yangon has been designated as one of the few private hospitals to test and treat Covid-19 patients. The Myanmar operations are not expected to impact OUELH' s results for this financial year.
Shares of OUELH closed at S$0.04 on Monday, down 4.76 per cent.
https://links.sgx.com/1.0.0/corporate-announcements/4EQJW3S4JCMNJ6LL/9d11eb92752a5d19d5e5c2d8191488d464c4078374b93bec33c10a2038ed0097 so is this stock worth vesting?
OUELH' s Myanmar hospital temporarily shuts emergency department
OUE Lippo Healthcare (OUELH) said on Wednesday that its flagship hospital in Yangon has temporarily closed its emergency department amid a recent spike in Covid-19 infections in Myanmar.
In an exchange filing, OUELH said the Hlaing Tharyar Hospital had announced last Thursday that the emergency department would be temporarily closed due to " a shortage of manpower, oxygen and medical supplies" . It noted that the hospital' s other departments were still functioning.
The group jointly operates and manages three hospitals, three clinics and a medical centre in Myanmar through a joint-venture partner, First Myanmar Investment Public Company Limited.
OUELH said: " Hlaing Tharyar Hospital is expected to resume the operations of its emergency department once it is able to stabilise its oxygen and medical supplies and manpower needs to continue to provide quality care for all its patients."
The company said the temporary closure of the emergency department is currently not expected to have any material impact on the group' s financial performance for the current financial year ending in December.
However, it added that, given the " rapidly evolving situation of the Covid-19 pandemic and the supply-chain disruption for oxygen and medical supplies in Myanmar" , it is difficult to determine at the moment how long the temporary shutdown would last, or whether it would need to be extended in duration or scope - including to other departments or hospitals.
OUELH said: " It is therefore not currently possible to ascertain the financial impact on the group if an extension of the temporary closure of emergency department in any form is required."
Reuters, citing state media figures, reported that Myanmar registered a record 281 Covid-19 deaths on Monday, and 5,189 new infections. However it noted that medics and funeral services have said that the real toll is much higher than the military government' s figures.
OUE Lippo Healthcare flags interested person transactions
OUE Lippo Healthcare has entered into certain interested person transactions (IPT) during the current financial year with the manager of First Reit and with OUE Treasury, it said in a filing to the Singapore Exchange on Friday night.
First Reit' s manager is a joint venture between the company and OUE, while OUE Treasury is a wholly-owned unit of OUE, which in turn is a controlling shareholder of OUE Lippo Healthcare.
In January, First Reit had launched a non-underwritten rights issue to raise gross proceeds of about S$158.2 million while First Reit' s manager had subscribed for its pro rata entitlement of the rights issue. On Feb 11, 2021, OUE Lippo Healthcare granted an interest-free loan of about S$5.92 million to First Reit' s manager in order for it to subscribe for its total provisional allotment of units under the rights issue.
" The value at risk to the company for the First Reit manager' s loan for the financial year ending Dec, 31 2021 is the value of the loan (of around S$5.92 million)," said OUE Lippo Healthcare.
Meanwhile, on Aug 14, 2019, a subsidiary of the company, OUELH Medical Assets (OMA), entered into a loan agreement with OUE Treasury where OUE Treasury advanced S$4.15 million to OMA at an interest rate of 4 per cent per annum.
On Jan 22, 2021 and June 25, 2021, OUE Treasury and OMA entered into extension letters, where the term of the OUE Treasury loan was extended to June 29, 2021 and Dec 29, 2021.
The value at risk to OMA for the OUE Treasury loan extensions for FY2021 is the interest payable on the loan in FY2021 - or S$165,000, the company said.
The total value of all transactions entered into between the group and the interested group for FY2021 is nearly S$195.7 million, which represents 141.6 per cent of the group' s latest audited net tangible assets (NTA) as at Dec, 31 2020.
This includes another transaction on Feb 23, 2021 for the allotment and issuance of convertible perpetual bonds to Treasure International Holdings following the conversation of existing shareholder loans. The value for that transaction was about S$189.6 million.
As it exceeds the relevant threshold of 3 per cent of the group' s audited NTA under the Catalist rules, an announcement was required by OUE Lippo Healthcare.
The company' s audit and risk committee has reviewed the First Reit manager loan and OUE Treasury loan extensions and is of the view that they are not prejudicial to the interests of the company and its minority shareholders, OUE Lippo Healthcare said.
Worse counter..
never recover no matter what..
ppl issue rights already recovered yet this one still .. haizzzz
never recover no matter what..
ppl issue rights already recovered yet this one still .. haizzzz
I am vested under both SRS and Cash.
Tks.
Tks.
OUELH receives S$249,000 from judgments
OUE Lippo Healthcare (OUELH) has received about S$249,000 in costs and disbursements from its legal proceedings involving funds owned by Crest Capital Asia and OUELH' s former executive director Lim Beng Choo.
In a bourse filing on Friday night, it also provided updates on other legal proceedings, including some involving David Lin Kao Kun.
OUELH has received S$80,000 from Crest Capital Asia, Crest Catalyst Equity and The Enterprise Fund III as payment of costs and disbursements in a lawsuit that was ruled in OUELH' s favour.
Another S$50,000 was received from Ms Lim' s solicitors as payment of costs and disbursements to OUELH, after her appeal against part of the High Court' s decision regarding her breaches of duty and liabilities was dismissed.
A payment of S$119,077.54 was received from her solicitors pursuant to a letter of undertaking they issued in favour of OUELH to make payment of costs and disbursements after the final disposal of her appeal against the lawsuit.
OUELH also updated that Value Monetization III (VMIII), which previously sent a letter of demand for the return of S$10.7 million, has written to the Court of Appeal to request that consequential orders be made for the return of the sum. OUELH has responded to the Court of Appeal with its objection to the request.
Separately, OUELH has been informed that the receivers of a Hong Kong private company called Healthcare Solution Investment Limited (HSIL) have prevailed in the appellate proceedings in a dispute with Mr Lin.
Mr Lin holds 40,000 shares in HSIL, which is the sole shareholder of Weixin Hospital Investment Management (Shanghai). He appealed against the decision of the Shanghai Pudong Court which ordered Chiang Hui-Hua, Weixin' s former executive director and general manager, to return the company' s business licences and company stamps to Weixin.
The Appellate Court has dismissed Mr Lin' s appeal against the Shanghai Pudong Court' s decision, and the receivers of HSIL successfully applied to the court for an enforcement order.
Wuxi Yilin Health, an OUELH subsidiary, has applied to withdraw its appeal against a decision by the Wuxi Intermediate Court that dismissed its claims against Mr Lin for breach of fiduciary duties to the subsidiary. The court documents for the appeal were not successfully served on Mr Lin, and Wuxi Yilin Health decided to withdraw the appeal on the advice of its counsel in China. It is now waiting for the Jiangsu Higher Court to accept the withdrawal application.
Why management bought 6% back from Japanese at more than double the current price...
Stupid or what ?
1 day ago · OUE on Tuesday said it has signed a share-purchase agreement with Tokyo-listed Itochu Corporation to purchase 266.6 million shares, or a 6 per cent stake, in OUE Lippo Healthcare (OUELH) at S$27.7 million in cash, equivalent to S$0.10375 per share. Read more at The Business Times.
Stupid or what ?
OUE to buy 6% stake in OUELH from Itochu for S$27.7m ...
https://www.businesstimes.com.sg/companies-markets/oue-to-buy-6-stake...
1 day ago · OUE on Tuesday said it has signed a share-purchase agreement with Tokyo-listed Itochu Corporation to purchase 266.6 million shares, or a 6 per cent stake, in OUE Lippo Healthcare (OUELH) at S$27.7 million in cash, equivalent to S$0.10375 per share. Read more at The Business Times.
Good price to buy?
Wuxi court declares OUELH subsidiary ' rightful and legal' owner of Wuxi land plot
OUE Lippo Healthcare (OUELH) was informed on Monday by the receivers of Healthcare Solution Investment (HSI) that the Wuxi Intermediate Court has accepted Weixin Hospital Investment Management (Shanghai) Co' s application to withdraw its appeal over a land-litigation matter.
In legal proceedings initiated by Weixin against OUELH' s subsidiaries, it was declared that a 2015 land-transfer agreement between two OUELH units over a 22,681 sq m plot of land in Wuxi Jiangsu Province was void.
In November 2019, the Court found that the land-transfer agreement was legitimate and binding on all relevant parties, and dismissed Weixin' s application for litigation.
A month later, Weixin appealed against the judgment.
But in May 2020, Weixin (under control of the receivers of HSI) applied to withdraw the appeal. However, the appeal was stayed pending the outcome of separate legal proceedings commenced by Weixin before the Shanghai Pudong Court over other matters.
The effect of the Court' s Monday judgment is that the decision of the Wuxi Xinwu District Court in 2019 is final and binding on all parties.
OUELH' s subsidiary, Wuxi Yilin Real Estate Development, is therefore the rightful and legal owner of the Wuxi Land, and there are no pending legal challenges in relation to the ownership of the Wuxi plot, OUELH said.
OUE Lippo Healthcare increases First Reit stake to 15.4%
OUE Lippo Healthcare (OUELH) has been allotted about 163.3 million units of the rights issue of First Real Estate Investment Trust (First Reit), OUELH said in a bourse filing on Wednesday evening.
Following the completion of the rights issue, OUELH indirectly owns approximately 15.4 per cent of the total number of First Reit units in issue, or about 246.9 million units.
First Reit Management, the manager of First Reit, is an associated company of OUELH.
OUELH submitted its acceptance for about 81.9 million rights units and applied for 81.3 million excess rights units through its wholly-owned subsidiary OUE Healthcare Investments, for an aggregate consideration of about S$32.7 million. It received the full allotments at the close of the rights issue, amounting to about 20.6 per cent of the total number of rights units issued.