Responses to queries from shareholders on the Annual General Meeting
The Board of Directors (the “Board” or “Directors”) of TalkMed Group Limited (the “Company”, and together with its subsidiaries, the “Group”) would like to thank shareholders who submitted their questions in advance of our Annual General Meeting to be convened and held by way of electronic means on Thursday, 21 April 2022 at 6.00 p.m.. The Board refers to the queries raised by the shareholders of the Company and appends the Company’s replies as follows:
“With the re-opening of international borders around this region slowly but progressively, could there be catalysts for the Group in the near term?”
In March 2022, the Singapore government announced the easing of measures, which included, among others, the removal of quota on the number of daily arrivals and entry approval for fully vaccinated visitors entering Singapore. Subject to the easing of measures in the countries where our foreign patients come from, we cautiously expect a gradual recovery of medical tourism as well as the patient numbers at our centres in Singapore.
In Hong Kong, on the other hand, following the surge in COVID-19 cases during the months of February and March 2022, COVID-19 related laws, including restrictions on vehicles and individuals crossing the border between the mainland China and Hong Kong, had been extended to September 2022. While such measures could be relaxed further on, we would expect restrictions to remain in some form, which would likely affect the timing and extent of recovery in foreign patient numbers, in particular, coming from mainland China.
Nevertheless, we are cautiously confident that our Hong Kong centre will ride out of the recent wave as it continues to focus on local patients while awaiting the lifting of the travel restrictions.
“The technology specialist TalkMed Group has obtained the approval of SGX to be transferred to the mainboard. Will this upgrade enhance its businesses and bottomline.”
To clarify, the Company is an oncology specialist and not a technology specialist. The Directors are of the view that the proposed transfer of the listing of the Company from the Catalist to the Mainboard of the SGX-ST would enhance the image and profile of the Company both locally and overseas, and strengthen the Company’s branding. Listing on the Mainboard would also provide the Company with greater visibility and recognition in the capital markets and amongst public investors, which could allow the Company to better tap into both the equity and debt capital markets to meet the Group’s funding requirements and provide the Group with greater flexibility to pursue further growth opportunities. While we remain hopeful and positive, the impact of the proposed transfer on our business and bottomline will however eventually depend on a multitude of circumstances and factors.