pck chart, page-2668

Singapore is an interesting market entry strategy for APAC. The way I see it, It's more of a POC to see how the tech fair before pivoting to another region. Here's a rough picture of "market size" - namely google maps agedcare faciities in Singapore. I count 20 here. I believe Painchek signed up contract with a property developer for a facility that is not yet built. Existing facilities would not want to try something new without seeing outcomes. Singaporeans are like that. I used to live around Clementi Especially ran around the Ghim Moh Senior Care Centre in the morning fk it was humid. The elderly people there surprisingly have healthy routines in the morning but I did see plenty in wheelchairs. From my experience, I saw news showing that cost of agedcare is going up therefore many children live with their parents even when they are 40. Also, everyone are willing to download health related apps. I don't think you can exclude the opportunity here but you don't want to over-hype it aswell. Why opportunity, well Indonesia, Malaysia, Thailand and Philippines are right next door with larger populations. Indonesia could be interesting to look at, but I haven't done research on number of beds, number of people with dementia etc... If I was management I would go for the largest addressable opportunity in SEA after proving utility in Singapore.

However, their prime objectives are Phillips, current government trial, FDA and share care launch. Then they can look at expanding in Europe followed by North America. By then the facility in Singapore would be completed. I think PD's strategy is very well timed for APAC growth as by the time they re-enter Singapore they would have gained market share in Europe and North America. They will come back to Singapore with more ammunition