Initiated a small position on IHC on 13 February 2017. This Company drew my attention when IHC shareholders, lead by Oxley Chief Executive & Deputy Chief Executive who controls about 26% of IHC stake voted out the entire board of IHC on 23 January 2017 .
At the same time, OUE controlled by Riady's family had announced that it had acquired 12.54% stake in IHC on 23 Jan 2017 & it was further increase to 21.83% on 8 February 2017. Both transaction by OUE are at $0.077 per share.
A glance at IHC business & assets revealed why OUE are keen in increasing its stakes.
IHC business comprises of 12 quality Nursing Homes in Japan , a hospital in Wuxi China , 3 freehold commercial building in Victoria Australia .
IHC also owns freehold land in Kula Lumpur and is developing it into a landmark and upscale medical hub with serviced residences. (“KLCC Project”) which is scheduled to complete in 2018 -2019 .
IHC also have plans to expand the Wuxi Hospital, catering up to 1,300 beds and an annex of medical suites & developing a specialist-rehab and wellness hospital development in Dujiangyan, Chengdu by 2019.
At the same time, OUE controlled by Riady's family had announced that it had acquired 12.54% stake in IHC on 23 Jan 2017 & it was further increase to 21.83% on 8 February 2017. Both transaction by OUE are at $0.077 per share.
A glance at IHC business & assets revealed why OUE are keen in increasing its stakes.
IHC business comprises of 12 quality Nursing Homes in Japan , a hospital in Wuxi China , 3 freehold commercial building in Victoria Australia .
IHC also owns freehold land in Kula Lumpur and is developing it into a landmark and upscale medical hub with serviced residences. (“KLCC Project”) which is scheduled to complete in 2018 -2019 .
IHC also have plans to expand the Wuxi Hospital, catering up to 1,300 beds and an annex of medical suites & developing a specialist-rehab and wellness hospital development in Dujiangyan, Chengdu by 2019.
Readers who are familiar with Riady's family aka Lippo Group owns substantial stake in First REIT & OUE Commercial REIT which IHC business & assets can complement with .
In addition ,IHC faced problems in repaying its short term debts but with Oxley providing convertible loans up to $55 million , it will ease IHC short term financing needs.
And with Oxley & OUE in the scene , IHC potential value can be further unlocked.
As at 30 Sep 2016, the NAV of IHC is at $0.1352 per share ,the risk to reward ratio is not bad for me .
***IHC on trading halt on 15 Feb 2017***
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