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This counter has gone down recently. Now, the price is lower than the last right issue of IDR9,500!
-CVC (one of largest private equity firms) entry price at >IDR11,000
-2016 right issue price at IDR9,000
-2017 right issue price at IDR9,500

not sure if previous buyers were overpaying or this counter is cheap now..  Shy
and seems that CVC has increased their stake to 16.59% in December through right issue?

http://www.idx.co.id/Portals/0/StaticDat...305bfc.pdf
While discussion above has some value, we still need to take note the real valuation of the company. Again, we must not blindly follow bigger investor, CVC in this case. 

With P/E >150x, is it worth it?
(01-15-2018, 03:06 PM)Denos Wrote: [ -> ]While discussion above has some value, we still need to take note the real valuation of the company. Again, we must not blindly follow bigger investor, CVC in this case. 

With P/E >150x, is it worth it?

better look at EV/EBITDA. Siloam is at 25.9x vs competitor MIKA at 27.5x, it is comparable.

Based on the growth outlook, Siloam is better because it has more young hospital and have better coverage across Indo (vs. Mika that concentrates in Java island).

Lastly, Silo has better penetration on the Indo universal health care.

For me, it is a better option out of the two major hospitals in Indo
agree with the valuation. Siloam is relatively more attractive compared to MIKA.

See the chart below
Price is even lower now.. Hopefully it is just because of the passive fund pulling out after correction this week.. If CVC is right, then this counter is cheap  Big Grin

[vested]
company just opened new hospital with 200 bed capacity in Tangerang (near Jakarta).

Will start operation in 2Q18 - seems that they are still in expansion mode following right issue end of last year

http://www.idx.co.id/Portals/0/StaticDat...ff398d.pdf
Result is out, excerpt from report:

SILO delivered in-line revenue (+13% YoY), but EBITDA and net profit (+9% YoY) came in 6%-7% above consensus. We believe this could be seen as a relief in light of low expectations heading into results. Interestingly, EBITDA margin only declined by ~50 bp amid rising Universal Healthcare (“BPJS Kesehatan”) exposure and new hospital launches. 20% growth guidance remains intact.

Revenue in line but margin is better than expected - let's see how markets react

-vested-
Apparently Lippo acquired more stake in the company based on latest announcement via Metropolis Propertindo Utama (Lippo REIT related) with new stake of 1.6% +6.15% = 7.75%

http://www.idx.co.id/Portals/0/StaticDat...4eb39d.pdf
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