SR_opinions
SR
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Sakura Research: Calling for Transparency and Accountability at RMG December 2, 2024 Mail To:Loh Boon ChyeCEO, SGX Group2 Shenton Way, #02-02 SGX Centre 1 Singapore 068804 David GeraldPresident & CEOSecurities Investors Association (Singapore) 7 Maxwell Road #05-03MND Building Annexe BSingapore 069111 Karen Lee Shu PeiAudit Partner, KPMG LLP 12 Marina View #15-01 Asia Square Tower…
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Nov 28, 2024 Raffles Medical Group Ltd 585 North Bridge Road Raffles Hospital #11-00 Singapore 188770 Dear Members of the Board: This letter is prepared by Sakura Research, a minority shareholder in Raffles Medical Group (the “Group” or “RMG”), in support of a shareholder-focused initiative aimed at enhancing value creation at the Group. Raffles Medical…
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Sakura Research is LONG RAFFLES MEDICAL GROUP (SGX:BSL).We think that the fair value of RMG shares should be greater than S$2.60.THE RESEARCH EXPRESSES SOLELY OUR OPINIONS. Viewing and/or use of Sakura Research materials is at your own risk. Executive Summary RMG’s June 2024 net tangible asset value of S$1.012b includes S$316m in cash; and approximately…
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Greater China Operations with Massive Accumulated Losses: Pursuit of Sustainable & Profitable Growth amid Succession Planning.Sakura Research is LONG RAFFLES MEDICAL GROUP (SGX:BSL).We think that the fair value of RMG shares should be greater than S$2.60.TERMS APPLY. OPINIONS ONLY. EXECUTIVE SUMMARY Since 2017, RMG has been making investments outside Singapore, primarily in Greater China, where…
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Raffles Health Insurance: Capital-Intensive Operations with High Risk and a History of Losses.Sakura Research is LONG RAFFLES MEDICAL GROUP (SGX:BSL).We think that the fair value of RMG shares should be greater than S$2.60.TERMS APPLY. OPINIONS ONLY. The Group’s Founder/Executive Director and the majority shareholder, Dr Loo Choon Yong, has been Chairman of Raffles Health Insurance…
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TERMS APPLY. OPINIONS ONLY. iFast CEO and Malaysian national, Mr Lim CC, continued to mumble through on Monday, usually without providing clear/concrete answers, while the Group CFO Mr Terence Lin could not address the raised accounting issues, such as those related to accounts receivable worsening trends. There is no clarification on why accounts receivable (AR)…
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OPINIONS ONLY. TERMS APPLY. FULL REPORT @ SakuraResearch.comView and/or use of Sakura Research materials is at your own risk.We are short IFAST Corp (SGX:AIY). It has been more than a month since Sakura Research released its report and accompanying accounting questions, but SGX-listed iFast Corp has decided to ignore them. This further convinces us that…
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By viewing material on this website you agree to the Terms. Viewing and/or Use of Sakura Research materials is at your own risk. THE RESEARCH EXPRESSES SOLELY OUR OPINIONS. Since August, SREITs have gained much more prominence for their attractive yields due to the lowering interest rates and disinflation. For the following reasons, we are…
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We are short IFAST Corp (SGX:AIY). SEPTEMBER 16, 2024. TERMS APPLY. FULL REPORT @ https://SakuraResearch.com/OPINIONS ONLY. UPDATE ON IFAST GLOBAL BANK iFast completed 100% acquisition of EPHL (Eagle Peak Holdings Ltd), taking full ownership of iFast Global Bank (iGB). Let’s take a closer look at this acquisition and iGB. 1) “Congrats” to IFAST shareholders! The UK digital bank…
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Sakura ResearchTERMS APPLY. OPINIONS ONLY. FULL REPORT AT https://SakuraResearch.com/ We are short iFast Corp (SGX:AIY), and long its dividend-rich & cash flow yield-rich peer, UOB-Kay Hian (SGX:U10). Re Business Times article: iFast, analysts refute short-seller claims that business is unsustainable.https://www.businesstimes.com.sg/companies-markets/ifast-analysts-refute-short-seller-claims-business- unsustainable 1. “In response to queries from Business Times, iFast declined to comment on most of…