Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-IHH listing benefits ASEAN healthcare stocks-CIMB

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STOCKS NEWS SINGAPORE-IHH listing benefits ASEAN healthcare stocks-CIMB Jul 11th 2012, 01:41 Tue Jul 10, 2012 9:41pm EDT IHH Healthcare's planned $2 billion listing in Malaysia and Singapore - the third largest initial public offering of the year globally - has brought interest back into healthcare stocks in Southeast Asia such as Singapore's Raffles Medical Group Ltd , CIMB said in a report. Shares of Raffles Medical were up 0.9 percent at S$2.36, and have gained 11 percent so far this year, compared to the Thomson Reuters Asia Pacific and Russia Healthcare Index's 5.6 percent rise. "Recent news flow pertaining to the dual listing of healthcare giant IHH Healthcare in Malaysia and Singapore has certainly brought interest back," said CIMB, adding company-specific news also helped. Raffles Medical will benefit from hospital bed shortage in Singapore, which has a lower bed ratio lower than other developed countries at 2.22 beds per 1,000 people in 2010, CIMB said. It has an 'outperform' rating on the stock with a target price of S$2.69. "With capacity constraints in public and other private hospitals, patient loads at Raffles Medical's flagship Raffles Hospital have been good," the brokerage said. Raffles Medical is adding capacity at Raffles Hospital by increasing clinical services and specialist offerings, at a time when healthcare costs are rising. Other healthcare stocks in the region include Thailand's Bumrungrad Hospital, which has surged 71 percent this year, and Malaysia's KPJ Healthcare, up 35 percent this year. To read a related story, click (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) Link this Share this Digg this Email Reprints

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