ANNUAL REPORT
2022
CONTENTS
CORPORATE INFORMATION | 1 |
CORPORATE PROFILE | 2 |
MESSAGE TO SHAREHOLDERS | 5 |
FINANCIAL & OPERATIONS HIGHLIGHTS | 8 |
BOARD OF DIRECTORS | 9 |
KEY MANAGEMENT/EXECUTIVE OFFICERS | 15 |
SUSTAINABILITY REPORT | 16 |
CORPORATE GOVERNANCE REPORT | 36 |
FINANCIAL CONTENTS | |
DIRECTORS' STATEMENT | 56 |
INDEPENDENT AUDITOR'S REPORT | 60 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 64 |
STATEMENTS OF FINANCIAL POSITION | 65 |
STATEMENTS OF CHANGES IN EQUITY | 66 |
CONSOLIDATED CASH FLOW STATEMENT | 69 |
NOTES TO THE FINANCIAL STATEMENTS | 70 |
STATISTICS OF SHAREHOLDINGS | 141 |
NOTICE OF TENTH ANNUAL GENERAL MEETING | 143 |
ADDITIONAL INFORMATION ON DIRECTORS | |
SEEKING RE-ELECTION OR CONTINUED | |
APPOINTMENT | 147 |
PROXY FORM
ANNUAL REPORT 2022 TALKMED GROUP 1
CORPORATE INFORMATION
BOARD OF DIRECTORS
Mr S. Chandra Das
(Non-Executive Chairman and
Independent Director)
Dr Ang Peng Tiam
(Executive Director and
Chief Executive Officer)
Dr Khoo Kei Siong
(Executive Director and
Chief Operating Officer)
Mr Sitoh Yih Pin
(Independent Director)
Mr Dan Yock Hian
(Independent Director)
Mr Lim Jen Howe (Non-Executive Director)
Mr Lim Teong Jin George (Non-Executive Director)
Prof Leong Ching Ching (Non-Executive Director)
AUDIT AND RISK COMMITTEE
Mr Sitoh Yih Pin (Chairman)
Mr Dan Yock Hian
Mr Lim Jen Howe
REMUNERATION COMMITTEE
Mr S. Chandra Das (Chairman)
Mr Sitoh Yih Pin
Prof Leong Ching Ching
NOMINATING COMMITTEE
Mr S. Chandra Das (Chairman)
Dr Ang Peng Tiam
Mr Dan Yock Hian
COMPANY SECRETARIES
Mr Lee Boon Yong
Mr Lim Heng Chong Benny
Ms Jacqueline Anne Low
REGISTERED OFFICE
101 Thomson Road #09-02 United Square Singapore 307591 Telephone No. : (65) 6258 6918
Facsimile : (65) 6258 0648
Website : www.talkmed.com.sg
PRINCIPAL PLACE OF BUSINESS
3 Mount Elizabeth
Mount Elizabeth Hospital Level 2
Singapore 228510
SHARE REGISTRAR AND SHARE TRANSFER OFFICE
B.A.C.S. Private Limited
77 Robinson Road
#06-03 Robinson 77
Singapore 068896
AUDITOR
Ernst & Young LLP
Public Accountants and Chartered Accountants
One Raffles Quay
North Tower, Level 18
Singapore 048583
Partner-in-charge:
Ms Ho Shyan Yan (appointed since
the financial year ended 31 December 2018) Chartered Accountant,
a member of the Institute of Singapore Chartered Accountants
PRINCIPAL BANKER
Oversea-Chinese Banking Corporation Limited
65 Chulia Street
#06-00 OCBC Centre
Singapore 049513
2 TALKMED GROUP ANNUAL REPORT 2022
CORPORATE PROFILE
TalkMed Group Limited ("TalkMed") was incorporated on 10 September 2013 in Singapore and listed on the Catalist board of Singapore Exchange Securities Trading Limited on 30 January 2014. TalkMed successfully transferred from the Catalist board to the Mainboard on 28 April 2022. TalkMed and its group of companies (collectively, the "Group") is a premier provider of medical oncology, stem cell transplants and palliative care services, serving patients in Singapore and the region. Outside Singapore, the Group operates in Vietnam, Hong Kong and the People's Republic of China. The Group structure as of March 2023 is as follows:
TalkMed Group | ||||
Limited | ||||
100% | 100% | 100% | 60% | 30% |
Singapore Cancer | TalkMed Vietnam | TalkMed Greater China | Hong Kong Integrated | |
CellVec Pte. Ltd. | Oncology Centre | |||
Centre Pte. Ltd. | Pte. Ltd. | Pte. Ltd. | ||
Holdings Limited | ||||
100% | 100% | 69% | ||
TalkMed China | TalkMed | Hong Kong | ||
Chongqing | ||||
Pte. Ltd. | Integrated | |||
Pte. Ltd. | ||||
Oncology Centre | ||||
Limited |
100% | 90%(a) | 60% | |||
TalkMed Hospital | Beijing Yachuang | Sino-Singapore | 85% | 60% | |
Siwei Investment | Hong Kong | ||||
Management | Hospital Management | ||||
Management | |||||
(Beijing) Co., Ltd. | (Chongqing) Co., Ltd. | Integrated | Cancer Care | ||
Co., Ltd. | |||||
Oncology | Consultants | ||||
100% | 30% | 100% | Centre | ||
Limited | |||||
(Kowloon) | |||||
Chongqing | Limited | ||||
Beijing Deyi | |||||
Medtech Health | Sino-Singapore | ||||
Shanshui Clinic | |||||
Management | Cancer Centre | ||||
Co., Ltd.(b) | |||||
Co., Ltd. | |||||
- The Group exercises control over and derives economic benefits from the remaining 10% interest in the entity through contractual arrangements.
- Operates TalkMed Shanshui Medical Centre.
ABOUT SINGAPORE CANCER CENTRE PTE. LTD. ("SCC")
SCC commenced operations in November 2006 and provides multidisciplinary medical oncology services, stem cell transplant and palliative care services. SCC's clinical functions include attending to patients, examining and administering medical treatment to patients and performing minor outpatient surgical procedures, prescribing medicines and investigations such as laboratory tests and diagnostic procedures. These clinical functions also include the review of investigation results and follow-up care with patients.
As of March 2023, the Group has sixteen doctors operating at nine clinics in Gleneagles Hospital Singapore, Mount Elizabeth Hospital Singapore, Mount Elizabeth Medical Centre and Mount Elizabeth Novena Specialist Centre Singapore, which are operated by Parkway Hospitals Singapore Pte. Ltd.. SCC has established itself as one of the market leaders in medical tourism in Singapore with foreign patients accounting for approximately half of its patient load in the past few years. Many of our patients are from regional countries such as Indonesia, Malaysia and Vietnam.
ANNUAL REPORT 2022 TALKMED GROUP 3
CORPORATE PROFILE
ABOUT TALKMED VIETNAM PTE. LTD. ("TalkMed Vietnam")
TalkMed Vietnam was set up in March 2014 and pursuant to its incorporation, it partnered with Thu Cuc International General Hospital to set up a medical centre known as Singapore Cancer Centre Thu Cuc that provides specialist medical oncology services in Hanoi, Vietnam.
ABOUT TALKMED GREATER CHINA PTE. LTD. ("TMGC")
TMGC was incorporated in November 2019 pursuant to a restructuring exercise to consolidate and streamline the Group's projects in the People's Republic of China ("PRC"). It is used by the Group as a vehicle to hold its current projects in Beijing and Chongqing through TalkMed China Pte. Ltd. ("TMC") and TalkMed Chongqing Pte. Ltd. ("TMCQ") respectively as well as to explore future healthcare-related projects and collaborations in the PRC.
Beijing
The Group has a 100% deemed interest in Beijing Yachuang Siwei Investment Management Co., Ltd. ("Yachuang"), after TMC, a wholly-owned subsidiary of the Group acquired 70% and 20% of the total issued and paid-up share capital of Yachuang in January 2020 and August 2021 respectively. The remaining 10% stake is held through contractual arrangements.
Yachuang is principally engaged in the business of investment management, hospital management, and healthcare management and consultancy (excluding diagnosis and treatment). Yachuang's wholly-owned subsidiary, Beijing Deyi Shanshui Clinic Co., Ltd., operates a private medical centre in Beijing, PRC, known as TalkMed Shanshui Medical Centre ("TSMC"), which commenced operations in August 2021, offering premier and quality oncology services as well as ancillary services to support oncology patients in the PRC.
TalkMed Hospital Management (Beijing) Co., Ltd. ("TMHM") is 100% owned by TMC, and its principal activity is to provide hospital management and advisory services in the PRC.
Chongqing
TMCQ, a wholly-owned subsidiary of the Group, was incorporated with the aim to provide healthcare management services in Chongqing, PRC. TMCQ has jointly established a sino-foreign joint venture enterprise, Sino-Singapore Hospital Management (Chongqing) Co., Ltd. ("SSHM") in Chongqing, PRC, with Chongqing Yongchuan District People's Hospital ("YCDPH"). TMCQ and YCDPH hold 60% and 40% of the equity interests in SSHM respectively. Through SSHM, the Group operates a category 2A oncology hospital in the Yongchuan District, Western Chongqing, known as Sino-Singapore Cancer Centre ("SSCC") which commenced operations in June 2021.
In August 2021, TMCQ had jointly established a joint venture company, Chongqing Medtech Health Management Co., Ltd. ("CMHM") in Chongqing, PRC, with joint venture partners, Chongqing Yijiasheng Pharma Technology Co., Ltd. ("CYPT") and Chongqing Tuozhen Information Technology Co., Ltd. ("CTIT"). CMHM's principal activity is to assist partner hospitals in the PRC to establish internet hospitals and operate their internet pharmacies. TMCQ, CYPT and CTIT hold 30%, 51% and 19% of the equity interest in CMHM respectively.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Talkmed Group Ltd. published this content on 05 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 April 2023 10:27:01 UTC.