Singapore Medical Group

Catalist-listed clinic operator Singapore Medical Group (SMG) said it may implement a formal dividend policy in fiscal 2019 along with a share buy-back mandate, as part of its plan to enhance shareholder value.

This comes after the group recently completed a strategic review of its operations.

Over the course of fiscal 2018, SMG intends to pursue plans for new clinics in key segments such as O&G (obstetrics and gynaecology), paediatrics and other specialist verticals, as these initiatives will contribute to steady organic growth in Singapore, the group said.

It will also continue to explore growth initiatives that have the potential for earnings-accretive mergers and acquisitions.

The group intends to commit $3 million to invest and grow each of these business ventures, including those in Vietnam and Indonesia.

It also has plans to go into new geographies such as Malaysia, which will serve as another gateway for regional expansion, SMG said.

The group added that it will be exploring the possibility of increasing its stake in CityClinic Asia Investments in the current financial year once it has reached profitability.

SMG, through its joint venture company SMG International (Vietnam), holds an effective 16 per cent stake in CityClinic Asia Investments, which owns and operates two 15,000 sq ft clinics in Ho Chi Minh City.

Ezion Holdings

Offshore and marine company Ezion Holdings said it has signed loan agreements with all secured lenders as part of its refinancing exercise.

It has also secured the extension of additional working capital of up to US$118 million (S$161 million).

Ezion has made an undertaking that there will be no change to its chief executive officer without prior written consent from the secured lenders.

Another clause stipulates that Ezion's CEO, Mr Chew Thiam Keng, shall at all times own a minimum of about 217.6 million shares, constituting a 5.96 per cent stake in the firm.