Synagie Snags Deal with Global Sporting Goods Giant for Southeast Asia

  • Synagie to manage e-Commerce platform business and expand online sales of branded goods for Amer Sports in Southeast Asia

Synagie Corporation Ltd. (SGX: V2Y) (“Synagie”, “思腾控股有限公司”, the “Company”, or the “Group”), Southeast Asia’s leading e-commerce enabler that assists brands to execute their e-commerce strategies using its cloud-based platform, is pleased to announce that it has signed an agreement with Amer Sports Malaysia Sdn Bhd (“Agreement”), a subsidiary of NASDAQ Helsinki listed Amer Sports Corporation (HEL: AMEAS) (“Amer Sports”), a leading sporting goods company with internationally recognised brands including Suunto, Wilson, Salomon, Arc’teryx, Peak Performance, Atomic and Precor to manage its e-commerce platforms business in Southeast Asia.

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HC Surgical Raises S$5.0 Million via Convertible Bond (with an Upsize Option to Heliconia) to Fund Business Expansion

  • Heliconia to invest S$5.0 million with an option to invest a further S$5.0 million
  • HC Surgical intends to use the proceeds for further expansion that align strategically with their
    long-term goals

Singapore, 29 July 2019 – Catalist-listed HC Surgical Specialists Limited (SGX:1B1 (“HCSS” or the “Company”) is pleased to announce that it has on 26 July 2019, entered into an investment agreement (“Investment Agreement”) with Heliconia Capital Management Pte. Ltd. (“Heliconia”).

Chief Executive Officer of HCSS, Dr. Heah Sieu Min said, “Our successful business strategy has continued to deliver concrete results and attract reputable investors. With the support from Heliconia, we will be in a stronger position to expand and deliver top quality healthcare services to our patients in Singapore and overseas.”

Mr. Pong Chen Yih, Chief Operating Officer of Novus Corporate Finance Pte. Ltd., the financial adviser to HCSS for the investment, said, “Novus Corporate Finance is pleased to have supported HCSS in this partnership with Heliconia. This strategic investment is particularly significant in solidifying HCSS’s foothold in the market and in its plans to expand and increase shareholders’ value.”

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Read more about HC Surgical Specialists’ home care business – OmniMed Healthcare’s Founder, Dr Lai’s interview story featured in 联合早报. 

联合早报 article link


HC Surgical Specialists’ FY2019 Profit Attributable to Shareholders Increased 61% to S$7.2 million

  • Profit attributable to shareholders rose 61% to S$7.2 million on the back of a 14% rise in revenue due to increased contributions from both new and existing subsidiaries
  • Proposes final dividend of 1.2 Singapore cents per share. In addition to the interim dividend of
    1.0 Singapore cents per share, aggregate dividend will be 2.2 Singapore cents per share for
    FY2019, a 4.8% increase from the prior year
  • Exclusive collaboration with AIA Singapore for colorectal cancer screening for initial term of 3

Singapore, 25 July 2019 – Catalist-listed HC Surgical Specialists Limited (SGX:1B1) (“HCSS”, or collectively with its subsidiaries and associated companies, the “Group”) today announced its financial results for the financial year ended 31 May 2019 (“FY2019”).


The Directors are recommending a final dividend of 1.2 Singapore cents, subject to shareholders’ approval at the forthcoming Annual General Meeting to be convened. Prior to this, the Group has also paid an interim dividend of 1.0 Singapore cents per share in January 2019. In aggregate, total dividend for FY2019 amount to 2.2 Singapore cents per share, a 4.8% increase from the prior year.

Another Record Year

“It has been a fruitful year for us in FY2019, as we continue to extend our footprint in Singapore with investments in Nuffield Dental Holdings – diversifying our business across specialties and expanding our network of GPs. Towards the end of the financial year, we were also appointed as AIA’s exclusive colorectal cancer screening provider for their eligible policy holders. This is a testament to the quality of our service and the growing reputation of our specialists. The appointment is expected to generate an additional recurring revenue stream and broaden our network for patient referrals.” said Group Chief Executive Officer, Dr. Heah Sieu Min.

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GEM Exclusive- Trading Idea-Hong Fok

Hong Fok

Mkt cap: $750m; Price: $0.87; P/B: 0.32x, Dividend yield: 1.1%, Net D/E: 29.5%

About: Primarily engaged in property investment, property development and construction, property management, investment trading and investment holding and management.

Trading idea- we love trading a stock with fundamentals. While there is deep value for the stock, value trap is always a concern. Hence, we are recommending this as a trading idea (till there is a clear path demonstrated to monetise its deep value)

Quick glance: Hongfok is a well-known value stock, given it is trading at only 0.3x P/B, and backed by investment properties such as the likes of International Plaza, Concourse and Yotel at Orchard.With its attractive valuation, a free float of only 29%, it is also a potential privatisation target. However, there are concerns that it may be a value trap, if there are no other way for shareholders to realise the deep value within Hongfok (other than the 1.1% dividend yield), which may also explain its depressed P/B. A 0.4-0.5x P/B will imply a TP of S$1.10-1.38

By the charts: After its surge earlier in the year, prices have corrected more than 20% before forming higher highs and higher lows. Stock seems to be currently supported at $0.85 as well as active share buybacks and repurchases from management/major shareholder. Assuming stock can break above its recent high of $0.895, hopefully it will be trending towards $0.94. On a weekly chart, if the stock is able to retest its previous high of $1.01, and break above, it may potentially chart towards $1.165 which will still put it within our “fundamental TP” range.

Stop loss $0.83

TP 1: $0.94

TP 2: $1.165

Read more about CEO Mr Eric Choo – Raffles Infrastructure’s special audit report at final stage; Chinese SOE is controlling shareholder

Duty Free International Limited Reports 1Q2020 Performance

  • 1Q2020 revenue rose by 15.5% to RM135.6 million on the back of revenue contributions mainly attributable to its newly acquired Brand Connect Group
  • Robust cash and cash equivalents position of RM273.3 million

SGX Mainboard listed Duty Free International Limited (SGX:5SO) (“DFI”, the “Company”, or collectively with its subsidiaries, the “Group”), the largest multi-channel duty free and duty paid retail group in Malaysia with strategic locations across Peninsular Malaysia, today announced its financial results for its three months ended 31 May 2019 (“1Q2020”), recording a 15.5% Y-o-Y increase in revenue to RM135.6 million and net profit stood at RM7.8 million.

Given the present economic outlook and increasingly competitive business environment as well as cautious consumer spending, the Group’s business performance is expected to remain soft and challenging due to macroeconomic trends such as slower global growth. The Group will continue its efforts in optimising operational efficiency and effectiveness by close monitoring of the key cost drivers and improving its core business in order to remain resilient in the retail industry.

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