• 
• 

Published on October 10, 2007

Bangkok Dusit Medical Services, operator of five-star hospitals, including Bangkok Hospital Medical Centre, BNH Hospital and Samitivej Hospital, has cut its expected rate of revenue growth this year from 20 per cent to 15-18 per cent.

The new revenue target is between Bt19 billion and Bt20 billion.

Vice president Prasert Prasattong-Osoth said the revision resulted from fewer foreign patients using the company's hospital services, because of the global economic slowdown. The sluggish domestic economy was also a culprit, he said.

However, he predicts company revenue will grow 15 per cent year on year to Bt23 billion if a new hospital begins operations as planned.

"I admit that net profit this year will decline from last year's Bt1.32 billion, because the company has invested a lot in neuroscience and vascular centres. Even though our net profits will decline this year, the investment will be a growth driver for business in the future," he said.

Thai patients account for 70 per cent of the company's total customers, while foreigners make up the rest. The number of foreign patients will increase to 35 per cent of the total next year, and the number of Thais will shrink to 65 per cent, Prasert said.

Most of the company's foreign patients come from the UK, Japan and the United Arab Emirates.

Referring to a recent report that Prasit Patana chairman Wichai Thongtang would try to buy the 15-per-cent stake in Prasit Patana held by Bangkok Dusit Medical Services, Prasert said he has had no contact with Wichai.

"The firm [Bangkok Dusit Medical Services] owns 15 per cent of Prasit Patana, 93 per cent of Samitivej Hospital and 19 per cent of Ramkhamhaeng Hospital. We haven't thought of divesting them and have held them for a long time. They offer attractive returns. It's too early to say if we'll sell our shareholding in Prasit Patana," he said.

Prasert then turned to his ownership of Bangkok Airways and said it would list on either the Singapore Exchange or the New York Stock Exchange in 2010, because the Thai stock market has too many regulations.

"We'll mull whether the company will seek a listing over the next three years. However, we'll not list in the Thai stock market, because it has more regulations than others. We may consider seeking a dual-listing," he said, adding that proceeds from a share allocation would be used to expand the airline's routes.

 The Nation