Singapore dental service provider aims to list China business in 5 yrs

Singapore-based service provider Q&M Dental Group has set a five-year target to list its China business once it achieves a combined profit of US$12.3 million to 13.9 million.

To fund its expansion plans in China, the group is undertaking a secondary listing in China's Taiwan to raise up to 50 million U. S. dollars.

"We want to do another IPO based on our China businesses. We are contemplating to list either in Hong Kong or China's mainland," said Ng Chin Siau, chief executive officer of the group.

The group is expanding in China through joint ventures to avoid the lengthy process obtaining dental licenses and setting up clinics from scratch. It has put in place a Singapore team in Shanghai to handle regulatory and accounting issues, and to ensure that management contracts and with joint venture partners are adhered to.

Q&M is competing in the niche segment of dental services in China, where only ten percent of the market is served by private clinics, of which only 5 percent are considered to be high-end.

"We are competing on quality, not on fees. It's about doing less with more," Ng said.

The full story is available at xinhuanet.com.