Bought ISEC

Have been eyeing this counter since its debut on the Catalyst market back in Oct 2014 with the IPO price of 0.28. Its price debited at 0.35 and has been rising pretty much ever since.


The full year 2014 results was released on 25 Feb but the price has only started to weaken recently.

1. Revenue rose 26% to 22 mil
2. Profit dropped from 3.3 to 3.2 mil
3. Net profit dropped from 2.3 to 1.9 mil
4. Cash improved to 27.3 mil from 1.4 mil
5  Divvy proposed 0.11 (2.6% from buying price)
6. EPS dropped from 0.76c to 0.54c (PE 77?)
7. Total equities stood at 43,650 mil and total liabilities 4,420 mil (Debt/Equity ratio 10)
8. Net Asset Value rose to 0.10 from 0.05 (P/B 4.2).

Since this is a newly listed and small company, many of the figures may be rather skewed. For example the drop in net profit was mainly due to the IPO expenses amounting to 1.8 mil. Also the singaporean operations only started in Aug and Sept. The result was also not bad o feel considering the weakening ringgit since most of its operations are in Malaysia. Divvy ain't shabby either for a first time.

I like this company for its potential and opportunity for growth. Currently they have four centres:

1. Mid Valley
2. Burmah Road, Penang
3. Mount Novena Hospital
4.Lee Hung Ming Eye Center, Gleneagles Hospital Singapore

Their goal is to expand withing the Asia Pac region, so it seems luke the sky's the limit for them.

Commision for the stock was 26.70.