JawaPos.com – A Singaporean doctor suddenly became a billionaire after his company became involved in the fight against the pandemic. Thus triggering profits and stock surges.
The assets of the Executive Chairman of Raffles Medical Group Ltd., dr. Loo Choon Yong is now worth $1.1 billion, according to the Bloomberg Billionaires Index. The net income of healthcare providers more than doubled in the first half of this year and the stock is up 104 percent from its March 2020 low.
Raffles Medical already operates 15 vaccination centers in the city-state, and assists with air border screening, pre-event testing and pre-departure screening of cruise ship passengers. This is the latest example of how businesses are adapting during the coronavirus outbreak when other lines of work are impacted.
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“When the country faces challenges like these, we have to help,” said Loo, who owns about 52 percent of Raffles Medical with his family, in a video interview.
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Editor: Edy Pramana
Reporter: Marieska Harya Virdhani
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