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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
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Afor Limited


(IPO booth at Raffles Place. It was unusually crowded due to freebies offered by the launch of My Paper).


Afor Limited is a one-stop premium retailer specialising in the sale of Apple brand products and its complementary products.

1m public shares at $0.33 each
22.5m placement shares.
Issue Manager: DMG & Partners and Primepartners Corporate Finance
Closing date: 16 January 2008

FY2007 ended 30 June 2007

Revenue - S$60m
Net profit - S$3.47m
EPS based on post share cap of 93.5m = 3.71 cents
PE based on IPO price - 8.9x

This is basically the listing of a mama shop selling someone else's product. While we can easily write off this company as one without its own products and is just a concept retailer, the encouraging thing about this entreprenuer is that he has shown you that if you have the correct concept and know the market well, you can be profitable.

A retail shop selling Apple products is more profitable than Creative with its own brands and patents?! Creative should perhaps just concentrate on R&D and sell its technology to Apple for marketing and branding.

Anyway, Apple products have also given people as the 'cool' thing to have, and the next in-thing will be the iphone that will be brought into Singapore in 2008. Challenger 1H07 sales is $65m and net profit is $3.8m, assuming a full year profit of $7.6m, the EPS is 4.06 cents and PE is around 6.77x. Challenger is trading at a cheaper valuation as compared to Afor.

Conclusion: There are better stocks with cheaper valuation around.
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