All Singapore O&G (SOG) services are available again: SOG clinics including their dermatology clinics can offer their full suite of services with Singapore’s circuit breaker ending on 2 June. See the SOG poster below.
However, competing dermatology clinics will be able to offer these services too.The dermatology segment is the weakest and most exposed to competition among the four segments but hopefully referrals from other SOG clinics can help the dermatology segment to break-even this year. My wife visited a SOG clinic recently and noticed that the nurses are now wearing SOG uniforms which is great for creating brand equity and reducing reliance on the individual doctors.
Singapore O&G in the media: Dr Christina Ong, a SOG paediatrician was featured on CNA along with another Raffles Medical doctor. Great publicity for the company. Link
iFAST and overseas deposits: From this CNA article “Deposits from non-residents into Singapore’s banks jumped 44 per cent to a record S$62.14 billion (US$44.37 billion) in April from a year earlier, marking the fourth straight monthly rise”. The data doesn’t show the origin of these inflows but it could be related to uncertainty in Hong Kong . iFAST has a strong presence in Hong Kong and Singapore so they may benefit from some of these capital inflows. Link
TripAdvisor and US jobs report in May: The US economy unexpectedly added jobs in May with leisure and hospitality jobs driving most of the growth. TripAdvisor’s share price jumped 15% on Friday probably because of this news. With hotels and restaurants hiring again, they may start using TripAdvisor’s services again. Link