Raffles Medical: Group has been looking to grow its operations beyond Singapore. It has been actively pursuing plans to build hospitals in China, a country where it only operates a medical centre in Shanghai. RHB believes the recent
acquisition of stake in RSM will enable the Group to enhance the service offering at its Japanese clinics in Singapore as well help build a small business presence in Japan.
While meaningful contribution from overseas operations is still a few years away, RHB see the Group taking the right steps in expanding its overseas presence.
House maintains Neutral with TP of $4.00.
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