$RAFFLES MEDICAL GROUP LTD(BSL.SI)$...I think the market has over-reacted to the news of vaccine testingrequirements change at Changi Airport. 

Presently passenger level at Changi has only recovered to c.4% of pre-COVID level. So even with reduced testing, there will be increasing number of tests that need to be done as the passenger number continues to recover.

For near-term, I think RM’s business has been very well supported and I expect an excellent quarter or half-yearearnings report ahead.

For mid-/long-term, RM will benefit from medical tourism recovery, growthin telemedicine and healthcare, and continuing hospital expansion.

Nevertheless, RM’s share price has had a very good run-up YTD, I also think people aretaking some profit off. That is fine.