Raffles Medical

Raffles Medical: Company signs a Letter of Intent dated 31 Jan 2013 with a subsidiary of China Merchants Group, to collaborate on the proposed development of an integrated international hospital with more than 200 beds in Shekou, Shenzhen, China. The proposed hospital development is expected to provide high-end medical services in the Pearl River Delta region to foreigners and local residents. Company trades at 32x P/E, 4.7x P/B.