BMI View: Unlike other developed Asia Pacific countries, we note that the Singaporean government is seeking to increase its share of healthcare expenditure in light of the ageing population’s rising demand for healthcare. Such commitment provides growth opportunities for pharmaceutical, health and health-related providers. We maintain that long-term growth potential will be limited by the small population in the country, but investors can make use of Singapore as a springboard to conduct business in the South East Asia region. Headline Expenditure Projections ? Pharmaceuticals: SGD940mn (US$770mn) in 2012 to SGD1.0bn (US$830mn) in 2013; +7.5% in local currency terms and +7.9% …
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