Raffles Medical

Raffles Medical: Group has appointed Jones Lang LaSalle to sell its commercial building at 30 Bideford Rd (Thong Sia Building), after repeated unsuccessful submissions to change the use of the commercial podium to a medical centre. At 31 Dec 2012, the valuation for the building was slightly above the purchase price that Raffles Medical previous obtained, which the group will at least recoup its initial investment cost in a sale. At its last closing price of $3.25, Raffles Medical trades at a trailing 30x P/E and 4.4x P/B.