Company Briefs : Alliance Healthcare Group

Alliance Healthcare Group

Alliance Healthcare Group, an integrated healthcare group based in Singapore, is planning an initial public offering (IPO) in the Republic to fund its business expansion.

Yesterday, it lodged a preliminary offer document to list its shares on the Catalist board sometime this year.

Led by executive chairman and CEO Barry Thng, the group consists of four main business segments, namely managed healthcare solutions, GP clinic services, specialist care services and pharmaceutical services.

The firm did not disclose the amount to be raised, but proceeds from the deal will go into expanding its network of self-owned GP clinics, specialist care services and medical facilities in Singapore, as well as to pursue growth through acquisitions, joint ventures and strategic alliances.

It is also intending to invest in technology systems as part of the digital transformation of healthcare services delivery. It also plans to expand its pharmaceutical services business to become a regional supplier in South-east Asia.

F J Benjamin Holdings

Mainboard-listed fashion retailer F J Benjamin Holdings has clinched an exclusive distributorship for Baume & Mercier watches in Singapore and Malaysia with effect from April 1.

The agreement is valid for three years, with the possibility of another two-year extension based on certain commitments, the company said in a regulatory filing yesterday.

The Baume & Mercier brand was founded in 1830, and specialises in luxury dress watches.

F J Benjamin will be responsible for the daily operations, sales and support, as well as marketing and communications to strengthen Baume & Mercier's brand awareness in the two markets, the company said.

FJ Benjamin's chief executive Nash Benjamin said: " We look forward to developing further the presence of the brand in our markets."

Mr Romain Lambert, managing director of Baume & Mercier, South-east Asia and Oceania, said: "It is clear that there is an untapped opportunity to develop a stronger retail network in order to service current and potential Baume & Mercier customers."

F J Benjamin is currently on the Singapore Exchange's watch-list for posting three years of pre-tax losses and failing to maintain a market capitalisation above $40 million. It faces a December 2019 deadline to exit the list by posting a profit and raising its market cap, or it could face delisting.

A version of this article appeared in the print edition of The Straits Times on March 30, 2019, with the headline 'Company Briefs'. Subscribe