Company Briefs: Asian Healthcare Specialists

Asian Healthcare Specialists

Asian Healthcare Specialists (AHS) has placed out 46.9 million new shares at 23 cents apiece ahead of a listing on the Catalist board.

The shares went to some 337 investors, among them Ho Bee Land chairman and chief executive Chua Thian Poh, who received 4.6 million shares.

Dr Chin Pak Lin, executive chairman and CEO of AHS, said: "We are encouraged by the strong investor support in the IPO. We believe that a listing on Catalist will allow us to access the capital markets to expand our business locally and regionally, as well as grow our talent pool to continue building our brand name."

Operating under "The Orthopaedic Centre" brand, AHS' medical specialists perform knee and hip replacements, sports medicine and surgery of the spine, foot and ankle, as well as minimally invasive orthopaedic procedures.

The placement raised about $9.5 million in net proceeds. Trading starts tomorrow.

Courts Asia

Electrical, IT and furniture retailer Courts Asia yesterday warned that its earnings for the fourth quarter ended March 31 are expected to be "significantly reduced", with the possibility of reporting a net loss.

However, the group is expected to remain profitable for the full year ended March 31, Courts said.

The group's Malaysia business was hit by a decline in revenue and profit after the introduction of new legislation, which capped interest rates for hire-purchase of goods at 15 per cent per annum.

The new rules came into operation on Jan 1.

At the same time, Courts took "a more prudent approach" towards sanctioning credit sales, it said.

Spackman Entertainment Group

Catalist-listed Spackman Entertainment Group has won contracts to supply camera systems and equipment for three upcoming South Korean drama series.

The three contracts have a tentative total contract value of 580 million Korean won (S$713,000), "subject to changes in final filming schedule", it said.

The productions are the Korean remake of popular United States series Suits, to air on April 25 on KBS 2 TV; mystery thriller and romance drama Mistress, to air on April 28 on OCN; and medical drama Life, which is expected to air in July on JTBC.

A version of this article appeared in the print edition of The Straits Times on April 19, 2018, with the headline 'Company Briefs'. Subscribe