Healthcare sector: According to the China Business News, Chinese govt depts including the Ministry of Health have agreed in principle to allow the opening of wholly foreign-owned hospitals. This could lift share prices of the more established Singapore Healthcare operators, such as #Raffles Medical, #Pacific Healthcare, which have expressed interest to expand their operations in the region and N Asia. #Healthway, #Q&M Dental have also recently made inroads into China...
#Healthcare: … Separately, India's Fortis Healthcare is looking to list a Reit in Singapore in the next 6 mths to house its Indian hospital property assets, and is looking at a valuation of US$600-700m. This would allow Fortis to free up capital to focus on its core business, although it still needs to overcome certain regulatory hurdles.
If successful, this could spur interest in Reits with similar exposure to healthcare and hospitals assets, eg. #Parkway Life Reit, and #First Reit.
Parkway Life Reit: property exposure mainly to hospitals in Singapore and nursing homes in Japan. Trades at FY10E yield of 5.6%. Street rates as Buy, with targets btwn $1.59-1.91.
First Reit: property exposure mainly to hospitals in Indonesia. Trades at FY10E yield of 8.7%. Covered only by SIAS, which has Buy rating and target of $1.13.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment