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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Singapore 

Wet market operator apologises for flyers carrying Hindi instead of Tamil translation, Singapore News

A wet market operator whose flyers drew flak for having a Hindi translation instead of a Tamil one has expressed remorse over his mistake and intends to print apology letters, which will be displayed publicly. The flyers were meant to inform the public about the relocation of the wet market at Admiralty Place mall to a new area next to Woodlands East Neighbourhood Police Centre. The announcement on the flyers was printed in English and translated into three other languages: Chinese, Malay, and what was meant to be Tamil but…

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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Vietnam 

NA leader lauds model port operator on 30th anniversary – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY      National Assembly Chairwoman Nguyễn Thị Kim Ngân lauded efforts and achievements by the Sai Gon Newport Corporation (SNP) over the past three decades when attending its 30th traditional day yesterday. A defence-security enterprise of the Vietnam People’s Navy, the corporation contributed to implementing the Vietnam Maritime Strategy, fulfilled its role of serving as a logistics base and military port, and built military facilities in border and island areas. Notably, in March 2018, it put into operation the Cam Ranh International Port – the largest logistics…

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Head of Chinese school operator Yuhua demands reversal of ban on M&A deals that has crippled stock prices and ‘threatens growth’

The chairman of one of China’s largest private school operators has slammed a controversial new law that is likely to crimp the expansion of schools, and has already battered their stock prices, during his speech to legislators at the country’s main political event of the year.Li Guangyu, chairman and founder of Yuhua Education – which runs 29 schools from kindergartens to colleges across China – called for the removal of a clause in a draft law that would ban private schools from expanding by… Source link

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Bourse operator Hong Kong Exchanges and Clearing reports record net profit of HK$9.3 billion, beats estimated

Hong Kong Exchanges and Clearing, which operates the Hong Kong stock exchange, the third-largest bourse in Asia, on Wednesday reported a record net profit of HK$9.3 billion (US$1.18 billion) for last year, an increase of 26 per cent over 2017.A listing reform introduced in April 2018 brought in a higher number of mega flotations and bigger turnover.The profit for last year beat the HK$7.96 billion earned in 2015. It was announced a day ahead of the release of a three-year strategic plan by HKEX… Source link

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Shanghai to Beijing high speed rail operator may be readying for an IPO this year, documents show

The operator of the high-speed railway linking Shanghai and Beijing has taken its first step towards a mainland initial public offering after receiving pre-listing tutorial services from a brokerage.According to a document ­published by the Beijing branch of the China Securities Regulatory Commission (CSRC) on Tuesday, Beijing-Shanghai High-Speed Railway is being advised by CSC Financial on a listing application, which is expected to be completed this year.On the mainland, a potential listing… Source link

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Stock exchange operator HKEX buys Shenzhen-based fintech company to raise capabilities, compete with global rivals

The operator of Hong Kong’s stock exchange is planning to make its first acquisition of a fintech company as it strives to upgrade its technology capabilities to compete with other bourses around the world.Hong Kong Exchanges and Clearing (HKEX), which runs the fifth largest stock market worldwide, has signed a letter of intent to buy a 51 per cent stake in Shenzhen Ronghui Tongjin Technology. The technology services provider, which has 200 staff, specialises in financial exchanges, regulation… Source link

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Former Hong Kong financial secretary’s firm competes with Fosun-backed hospital operator in Greater Bay Area

New Frontier, an investment company co-founded by former Hong Kong finance minster Antony Leung Kam-chung, is competing with international health care providers in the region covered by Beijing’s “Greater Bay Area” initiative. The initiative aims to link Hong Kong, Macau and nine mainland Chinese cities – one of which is Shenzhen – into an integrated economic and business hub. Last month, New Frontier acquired a medical facility together with a plot of land in Shenzhen’s Futian district from state-owned China Resources Group for 1.12 billion yuan (US$166 million). The Hong…

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Hong Kong’s troubled pay TV operator i-Cable sees shares plunge as it gives rejected funding plan a second go

Shares of troubled i-Cable Communications, Hong Kong’s biggest pay TV operator, tumbled the most in 11 weeks after the firm revived a fundraising plan to place new stocks with investors. The stock slumped 7.8 per cent to 10.6 Hong Kong cents at Monday’s close, the steepest decline since November 12. About 26.5 million shares changed hands, almost three times the three-day average, according to data compiled by Bloomberg. The sell-off came after shareholders rejected a similar rights-issue plan about two weeks ago. i-Cable said in an exchange filing over the…

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