It is coming to almost the end of 2020. COVID seems to have become part and parcel of our lives. Everyday, seeing everyone wearing masks and the non-stop reporting of ever increasing 2nd or 3rd wave record breaking infections and fatalities overseas reminds us that the battle with the deadly virus is far from over. Even right now, the travel bubble between Singapore and Hong Kong which was supposed to commence today got postponed by at least another 2 weeks due to a new severe outbreak declared by the Hong Kong government. SIA and Cathay Pacific are most likely to decline slightly in the opening of the stock markets Monday morning.  I remain optimistic that the immediate emergency approval of Pfizer and Moderna COVID vaccine in December 2020 will pave the way for an eventual defeat of

Singapore Medical Group ("SMG") just announced another set of excellent financial results for FY2019. Its revenue rises 11.3% relative to prior year to a record S$94.7Mil driven by growth across all business segments. SMG also reported a 5.7% increase in net profits to a record S$13.6Mil.  However, its share price performance for the whole year was disastrous as it plummeted from an all time high of S$0.490 per share to a low of S$0.0.275 per share range despite the excellent performance of a few years for no apparent good reason. During the year, directors also sold some of their stakes to the strategic Korean Medical Group CHA for S$0.605 per share. The current share price of S$0.310 thus reflect a massive discount to its fair value using the S$0.605 as benchmark and a 100% potentia

Singapore Medical Group (“SMG”) share price has been stuck in a whirlpool of S$0.300 range for many months ever since August 2019. It all started with an offer by the Korean Medical Group, CHA, to buy out substantial number of shares from Dr Beng and his management team at S$0.605 per share. To add insult to injury, while the share price was at a high of S$0.485 per share, SMG decided to place out to CHA a S$10Mil convertible loan with conversion rights at S$0.435. Many shareholders were outraged at the unfairness of no general offer being made to them as well as the value destruction of the convertible loan pegged to a low exercise price. As a result, the massive sell off of SMG stocks from S$0.485 to S$0.300 per share commenced. What a bloodbath it had been since then for the many in