Singapore's Perennial setting up 500 million yuan general hospital in Shanghai
Perennial General Hospital Shanghai's total investment cost is expected to amount to 500 million yuan (S$90.2 million), with a planned capacity of 500 beds.
A foreign medical investment company will be incorporated in the Lujiazui District, Shanghai, to establish the hospital, said Perennial Holdings.
The hospital will feature a team of medical experts from China and other countries. Aside from general medical areas such as internal medicine, surgery and health screening, it will house centres of excellence with specialisations including orthopaedics, oncology, cardiovascular diseases and otolaryngology.
The healthcare company said that the hospital will be built according to international standards, integrating advanced medical equipment and technology, as well as global service standards. It will also be designed with a garden-style environment, serve as a platform for global medical exchange, and foster collaboration and sharing of clinical expertise, the group added.
This move reaffirms the long-term confidence that Perennial Holdings has in China's healthcare market, said executive chairman and chief executive Pua Seck Guan.
'Shanghai is witnessing a burgeoning demand for premium and personalised medical services. The Perennial General Hospital Shanghai will leverage its strategic location to serve both local residents and expatriates in the city, and introduce innovative medical treatments and packages for high-net-worth international clients to support the growth of Shanghai's medical tourism sector,' he added.
Perennial Holdings has five healthcare-centric transit-oriented developments typically integrating medical care, eldercare and hospitality components, connected to high-speed railway stations located in Tianjin, Kunming, Chengdu, Xi'an and Chongqing in China.
It manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 15 cities in China and Singapore. It is set to launch a private integrated rehabilitation and traditional Chinese medicine sanctuary in Singapore, the group said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
23 minutes ago
- Straits Times
Britain asks China to clarify contested embassy plan
Sign up now: Get ST's newsletters delivered to your inbox The project comes as the Labour government is looking to reset long-fraught ties with Beijing. LONDON - The British government on Aug 6 asked China to explain partially redacted plans it has submitted for its new London embassy project, which has fanned worries from residents and human rights advocates. China has sought for several years to move its embassy from the chic Marylebone district to a sprawling historic site in the shadow of the Tower of London. It would be the largest embassy complex in Britain, and the project comes as the Labour government is looking to reset long-fraught ties with Beijing. On Aug 6, Deputy Prime Minister Angela Rayner sent a letter to the firm DP9 that represents the Chinese government, requesting details on some documents transmitted during a public inquiry. Ms Rayner sought in particular details on portions of the plans that had been 'greyed-out' or 'redacted for security reasons'. The letter was published online by Luke de Pulford of the Interparliamentary Alliance on China, an international body, one of its copied recipients. The British government gave China until Aug 20 to respond. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Sport Son Heung-min joins Los Angeles FC in record MLS deal Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing The proposed embassy site, which Beijing bought in 2018 for a reported US$327 million (S$421 million), once housed the Royal Mint. It was earlier home to a Cistercian abbey built in 1348 but is currently derelict. In 2022, the local authority, Tower Hamlets Council, unanimously rejected China's plans, which include designs by the renowned firm David Chipperfield Architects. In July 2024, Beijing resubmitted the proposals almost entirely unchanged. AFP
Business Times
23 minutes ago
- Business Times
Major climate-GDP study under review after facing challenge
[WASHINGTON] A blockbuster study published in top science journal Nature last year warned that unchecked climate change could slash global GDP by a staggering 62 per cent by century's end, setting off alarm bells among financial institutions worldwide. But a re-analysis by Stanford University researchers in California, released on Wednesday, challenges that conclusion - finding the projected hit to be about three times smaller and broadly in line with earlier estimates, after excluding an anomalous result tied to Uzbekistan. The saga may culminate in a rare retraction, with Nature telling AFP it will have 'further information to share soon' - a move that would almost certainly be seized upon by climate-change skeptics. Both the original authors - who have acknowledged errors - and the Stanford team hoped the transparency of the review process would bolster, rather than undermine public confidence in science. Climate scientist Maximilian Kotz and co-authors at the renowned Potsdam Institute for Climate Impact Research (PIK), published the original research in April 2024, using datasets from 83 countries to assess how changes in temperature and precipitation affect economic growth. Influential paper A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up It became the second most cited climate paper of the year, according to the UK-based Carbon Brief outlet, and informed policy at the World Bank, International Monetary Fund, US federal government and others. AFP was among numerous media outlets to report on it. Yet the eye-popping claim that global GDP would be lowered by 62 per cent by the year 2100 under a high emissions scenario soon drew scrutiny. 'That's why our eyebrows went up because most people think that 20 per cent is a very big number,' scientist and economist Solomon Hsiang, one of the researchers behind the re-analysis, also published in Nature, told AFP. When they tried to replicate the results, Hsiang and his Stanford colleagues spotted serious anomalies in the data surrounding Uzbekistan. Specifically, there was a glaring mismatch in the provincial growth figures cited in the Potsdam paper and the national numbers reported for the same periods by the World Bank. 'When we dropped Uzbekistan, suddenly everything changed. And we were like, 'whoa, that's not supposed to happen,'' Hsiang said. 'We felt like we had to document it in this form because it's been used so widely in policy making.' The authors of the 2024 paper acknowledged methodological flaws, including currency exchange issues, and on Wednesday uploaded a corrected version, which has not yet been peer-reviewed. 'We're waiting for Nature to announce their further decision on what will happen next,' Kotz told AFP. He stressed that while 'there can be methodological issues and debate within the scientific community,' the bigger picture was unchanged: climate change will have substantial economic impacts in the decades ahead. Undeniable climate impact Frances Moore, an associate professor in environmental economics at the University of California, Davis, who was not involved in either the original paper or the re-analysis, agreed. She told AFP the correction did not alter overall policy implications. Projections of an economic slowdown by the year 2100 are 'extremely bad' regardless of the Kotz-led study, she said, and 'greatly exceed the costs of reducing greenhouse gas emissions to stabilize the climate, many times over.' 'Future work to identify specific mechanisms by which variation in climate affects economic output over the medium and long-term is critical to both better understand these findings and prepare society to respond to coming climate disruption,' she also noted. Asked whether Nature would be retracting the Potsdam paper, Karl Ziemelis, the journal's physical sciences editor, did not answer directly but said an editor's note was added to the paper in November 2024 'as soon as we became aware of an issue' with the data and methodology. 'We are in the final stages of this process and will have further information to share soon,' he told AFP. The episode comes at a delicate time for climate science, under heavy fire from the US government under President Donald Trump's second term, as misinformation about the impacts of human-driven greenhouse gases abounds. Yet even in this environment, Hsiang argued, the episode showed the robust nature of the scientific method. 'One team of scientists checking other scientists' work and finding mistakes, the other team acknowledging it, correcting the record, this is the best version of science.' AFP
CNA
an hour ago
- CNA
Commentary: Need a prata or a Ferrari? There are vending machines for that
SINGAPORE: Walk through any MRT station, mall, or even hospital in Singapore today and chances are, you'll see a vending machine or three. What used to be a niche fixture for drinks, potato chips and candy bars has evolved into a retail model in its own right. Banana cake from Johor Bahru's Hiap Joo, Mao Shan Wang durians from Kaki Kaki and even hot roti prata with curry from Springleaf Prata Place are now available on-demand, 24/7, while stocks last. There's no store, no staff, just a digital interface and a glass window. So, what's behind this rise? Is this temporary, or the future of retail? According to data analytics firm Euromonitor International, Singapore recorded S$117 million (US$90 million) in vending machine sales last year, up from S$100 million in 2019. The figure is projected to reach S$124 million by end-2025. Globally, consultancy firm Precedence Research forecasts that the vending machine market size could grow to US$45 billion by 2034 from an estimated US$23 billion this year. From those numbers, it is clear vending machines are becoming commercially viable and entrenched in our daily lives. WHY VENDING MACHINES ARE GAINING TRACTION Part of their appeal lies in their high efficiency and low cost. In a city known for higher rents, vending machines offer brands a cost-effective way to reach consumers without the overhead of a full retail operation. There are no staff to schedule, no point-of-sale systems to maintain and no need to lock up at the end of the day. A single machine in a busy location can generate steady revenue with minimal manpower. Vending machines are also cost-effective for testing new markets or maintaining a presence in high-traffic areas. Second, they align with Singapore's appetite for round-the-clock convenience. In a country where internet banking, online grocery shopping and QR code payments are part of daily life, Singaporeans are no strangers to the self-service model. Vending machines – which are always on, always stocked (ideally) and increasingly able to serve niche needs – now dispense everything from flowers, clothes, laundry detergent and even luxury cars. There are also vending machines that allow you to see a doctor, get a medical certificate and medication. And then, there is the fandom factor. PopMart and Labubu-style machines, for example, sell 'blind-box' items with the appeal of collectible surprise. Like Japan's gachapon machines, they play on mystery, expectation and the thrill of possibility, turning what would otherwise be a simple purchase into an entire experience. ARE WE HEADED TOWARD A VENDING-ONLY FUTURE? Still, while vending machines are clearly gaining ground, it's unlikely they will replace physical shops anytime soon. Product fit is a consideration. Some products do not lend themselves to the vending application. For example, fresh food has a limited shelf life, and delicate items like make-up can be damaged during dispensing. While vending machines work well for sealed snacks, drinks, collectibles and pre-packed meals, they fall short for things that require human interaction, education or guidance. Even with advances in artificial intelligence and personalised interfaces, some elements of the retail experience remain distinctly human and irreplaceable. Some products require customer education before purchase. For example, skincare, health supplements, tech gadgets and baby products often need guidance or clarification about ingredients, side effects or compatibility. In these cases, customers usually prefer face-to-face engagement to ask questions and clarify doubts. These are things that a vending machine cannot do - yet. Moreover, vending machines offer reach, but not depth. A brand can distribute its product but can't build a community or tell its story like a well-designed pop-up or store. For start-ups or lifestyle brands, physical touchpoints remain key to building trust and identity. POTENTIAL PITFALLS TO WATCH Although vending machines are less expensive than brick-and-mortar stores, they still require significant upfront capital. A new vending machine can cost between S$5,000 and S$10,000. For those who lease the machines instead, rental rates can cost up to S$800 a month. There are also expenses for hardware, licensing, software, maintenance and the logistics needed for regular replenishment, not to mention losses from wear and tear, technical issues or vandalism. Customer support is also an issue. When things go wrong, be it a jammed dispenser or a failed payment, there's no staff on-site to fix the issue. Without a way to resolve issues instantly, instant recourse, brand loyalty can suffer. A case in point: Amazon Dash Buttons. Designed to simplify reordering household products, they were discontinued after users found them unintuitive, lacked feedback mechanisms, and caused accidental orders. Another example is Stockwell (formerly known as Bodega). The AI vending machine, founded in 2017 by former Google employees, installed smart vending machines in offices and apartment lobbies in the United States, aiming to replace convenience stores. According to TechCrunch reports, Stockwell was unable to find a sustainable or scalable model for its vending machines, despite raising over US$45 million. They ultimately decided to shut down operations in 2020. A HYBRID FUTURE For all their efficiency, vending machines are not the future of retail. They are, instead, part of its evolution. Vending machines will become one of many tools in a brand's playbook. For instance, a bakery might use them to sell bestsellers after hours. A cosmetics brand might place machines in MRT stations to distribute limited-edition samples and drive buzz. A supermarket might offload fast-moving items to vending machines nearby, while staff focus on higher-value interactions. Healthcare providers could deploy machines in remote areas to improve medication access and continuity of care. More broadly, vending machines reflect a bigger trend: retail unbundling. Just as entertainment moved from free-to-air TV to cable to Netflix and TikTok clips, retail is being broken down into moments. Rather than competing with vending machines, stores may evolve into experience hubs where customers can explore, sample and benefit from the kind of personalised service only people can provide. You don't need a storefront to sell. But if you want to build a brand, tell a story or win loyalty, you still need more than a machine.
