29903 - Q and M

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Summary of Proposed Investment

Project Number

29903

Company Name

Q & M DENTAL GROUP (SINGAPORE) LIMITED

Date SPI Disclosed

Feb 24, 2011

Country

China

Industry

Health, Education and Life Sciences

Projected Board Date

Mar 31, 2011

Status

Completed

Sector

Hospitals and Clinics

Date Revised SPI Disclosed

Apr 27, 2011

Department

Gbl Ind, Manufact, Agribus & Services

Environmental Category

B - Limited

Previous Events

Approved : Mar 24, 2011
Signed : Apr 27, 2011
Invested : May 15, 2012

Project Description

Q & M is Singapore’s largest private dental healthcare group with clinics located island-wide. It was listed on the main board of the Singapore Exchange Securities Trading Limited on November 26, 2009. Q & M Dental Group (Singapore) Limited’s (“Q & M”)’s strategy in China is to first establish a network of reputable dental clinics in the first and second tier cities. Once Q & M achieves its objectives of transferring technology, operational practices and skills in the cities, it will work with established local Chinese partners to expand its services beyond main urban areas and to the frontier markets. To date, Q & M has signed agreements to establish joint ventures with two dental clinic groups in China, and it has also entered into binding master agreements with two Chinese dental equipment companies.

This project is expected to improve access to high quality dental care in China where standards are generally low. There will be regional transfer of best management and clinical practices from Q & M''s operations in Singapore to facilities in China. This project will also create employment opportunities for dental workers in China and allow them to work in a high-quality, safe clinical environment.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	15.0
Equity	0.0

Development Impact

- Increasing access to high quality dental care: Demand for dental care in China is increasing, yet standards are reported to be generally low. This project will include skills transfer from Singapore.

- Regional integration of best practices: Best management and clinical practices will be transferred from Q & M''s operations in Singapore to its facilities in China.

- Employment generation: This project will provide employment opportunities to additional dental workers in China and allow them to work in a high-quality, safe clinical environment.

- Long-term capital provider: IFC is providing funding terms otherwise unavailable in the market, yet essential for long-term healthcare projects.

- Financial resources mobilization: IFC would bring additional credibility and discipline to the Q & M which will enable it to secure new equity and debt financing in the future for its expansion plan in China.

- Knowledge sharing: Q & M values IFC''s knowledge of the private healthcare sector in China and developing countries globally. IFC will introduce the group to the leading thinkers and operators in the international health arena.

This Project involves Q & M investing into JV dental clinics and dental laboratories equipment manufacturing facilities. Key E&S issues include E&S management system to be set up in China; quality and sustainability of water resources; emissions to the environment – air, water and subsurface; solid, hazardous, biomedical and infectious medical waste and materials management, including transportation; life and fire safety provisions of clinics; community and staff occupational health and safety; community engagement; construction management and land acquisition. The scope of the appraisal will include looking at: existing operations of the Chinese JV partner(s) (if any) and their systems, and proposed JV operations in Yiwu and Shenzhen. This project has been provisionally assigned category B and will require 30 days disclosure prior to board.

Contacts

For Inquiries About the Project, Contact

Mr. Vitters Sim
Chief Financial Officer
Q & M Dental Group (Singapore) Limited
67 Ayer Rajah Crescent, #05-12/14
Ayer Rajah Industrial Estate
Singapore 139950
Tel: 65-6779-7371
Fax: 65-6778-6781
http: www.qandm.com.sg/

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Washington DC 20433
Tel: 202-473-3800
Fax: 202-974-4384
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Local Access of Project Documentation

The Environmental and Social Review Summary (ESRS) and Environmental & Social Action Plan (ESAP) are posted on Q & M’s corporate website (www.qandm.com.sg/)

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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