Friday, April 3, 2015

Future Catalysts for Raffles Medical Group

Expansion Proceeding as Planned
Both Raffles Holland Village and Raffles Hospital Extension are currently under construction. Raffles Hospital Extension is slated for completion in 1Q17. Work at Raffles Holland Village is on track for completion by 1Q16. Raffles Hospital will add another 220,000 sq ft of floor area. There will be a future connection between Raffles Hospital and Bugis MRT station at Basement 1 level. This 20-storey building will be dedicated to outpatient traffic.

Raffles Holland Village will be a combination of medical and retail spaces, totalling 62,720 sq ft. Raffles Medical will only keep 9,000 sq ft for medical purposes. It will lease out 4,500 sq ft to DBS for its banking operations. The rest will be available for retail shops and F&B outlets. Upon completion, Raffles Medical is expected to get a 6%-7% rental yield from the commercial units in the new mall.

I believe that patient volume growth will improve as a result of the expansion. Meanwhile, the Pioneer Generation package and Community Health Assist Scheme should support patient volumes in the immediate term

An artist's impression of Raffles Holland Village

Positive Long-term Prospects for Healthcare Sector
In the long-term, the healthcare sector in Singapore is strongly supported by rising affluence among the masses, an aging population and increased medical tourism.


Strong cash position to fund Overseas Venture
Raffles Medical Group's cash position remains strong at S$150.2m (as of the quarter ended December 31, 2014). It has signed two letters of intent to establish private hospitals in Shenzhen and Shanghai.

2-Year Agreement With MOH To Receive SCDF Patients.
Raffles Medical Group Ltd has entered into an agreement with the Ministry of Health Singapore to collaborate on a 2-year project whereby Raffles Hospital's Emergency Department will receive patients transported to it by Singapore Civil Defence Force emergency ambulances during office hours. Raffles Hospital will provide emergency care for these patients at its ED, and follow up inpatient care and/or outpatient care at its specialist clinics, as medically indicated, in relation to the patient's presenting diagnosis at the ED. Patients treated in Raffles Hospital under this collaboration will be eligible for Government subsidy. The project is expected to be implemented around the middle of 2015, allowing time for preparation and commissioning of facilities and systems.

Power of CD
Dividend Warrior

Monday, March 23, 2015

Dividend Warrior is back! Almost full liquidation of portfolio

Dear fellow income investors, I am glad to announce that my blog is finally revived. However, all my old posts will not be published as I wish to restart blogging on a clean slate. With the support of my fans, I managed to hit around 1.6 million page views in 5 years. Thanks guys! I hope to hit 2 million page views by the end of 2015. ^^

SembCorp Industries
ST Engg
Raffles Medical
Sheng Siong
Keppel DC REIT
Silverlake Axis

Over the past few months, I have liquidated SPH, the three telcos and most of the REITs in my dividend portfolio. Some funds were channelled into my modest tuition business while the rest of the capital were reinvested into SembCorp Industries, ST Engineering, Raffles Medical Group, Sheng Siong Group, Silver Lake Axis and Keppel DC REIT. I chose these companies because they have solid fundamentals and business models, which will probably sustain or even grow their dividends over the next few years. Nowadays, I am not too fixated on dividend yields alone. The ability of the company to keep paying dividends during times of crisis is a more critical factor to consider.

Power Of CD
Dividend Warrior

Wednesday, February 25, 2015

Follow Dividend Warrior on Twitter!

Hi everyone! I am enjoying my time away from blogging.

Good news! I have set up a Twitter account. We can still keep in touch.

Follow me at

Thanks! :)


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