Business Development Asia LLC

South East Asian Health News

ISSUE 6, APRIL 1998

SINGAPORE

Health One, a joint project between the National Computer Board (NCB) and the National University of Singapore (NUS), was recently launched to provide online medical services and information to Singaporeans. The website is available in English, Chinese and Malay, and a Tamil version will soon be added. The project is currently funded by a S$700,000 (US$400,000) grant from NCB and NUS, but its organizers hope that it will be funded solely by advertising revenues in the future. (March 6^th 1998)

Parkway Holdings reported lower than expected net profits of S$19.7m (US$12m), or a 59% decrease from 1996. Parkway also announced S$26.7m (US$16m) in extraordinary losses, the bulk of which came from foreign exchange losses on foreign denominated loans. Healthcare revenue accounted for 65% of the group’s earnings. Parkway runs hospitals in Singapore, Malaysia, Indonesia, India, Sri Lanka and the UK. The group is also involved in property investment and development. (March 24^th 1998)

Raffles Medical Group (RMG) reported a flat profit of S$3.7m (US$2.3m) despite a 32% rise in revenues. RMG was hit by losses at its Hong Kong operations. The increase in sales was due to the establishment of ten new clinics in Singapore and Hong Kong and the growth of RMG’s medical and day surgery center, Raffles Surgicentre. (March 23^rd 1998)

Roche Vitamins Asia Pacific opened its S$6m (US$4m) plant in Senoko. Roche is optimistic about the region’s prospects despite the current economic situation. Demand in the Japanese, Australian and Taiwanese markets remained strong and compensated for significant declines in other countries. The new premix plant will make powdered vitamin mineral blends geared mainly for export. The plant has a capacity of 800 tons of premix per year with potential sales of S$20m (US$12m). (March 10^th 1998)