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Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi

Sysma Holdings Limited

Sysma Holdings Limited ("Sysma" or "Company") is engaged in providing building construction services to the private sector in Singapore. The Company believes it is one of the leader in high-end landed property construction business.


Sysma is offering 18m shares at $0.28 each 
via Placement for a Catalist listing. There is no public tranche. The offer will end on 1 August 5pm and starts trading on 3 Aug.


Revenue for the Company hovers between $43m and $54m for FY2009 to FY2011 and net profit after tax is between $3.6m to $5.3m during the same period. The Company intends to distribute at least 30% of its net profit for FY2012 and FY2013 as dividends. As of 30 April 2012, the order book stands at $59.5m

The Company is listing at a historical PER of 5.51 (based on enlarged share cap and assuming service agreement is in place). The market cap is $26.6m


I have no further comments on this company. It is a small cap company and in a very niche market in land scarce Singapore. While the valuation is cheap, i am not sure if the business is scalable. I would have given it a one chilli rating - apply only if you like it but since there is no public tranche, the ratings would not have made any difference. 

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