By Chester Tay IHH Healthcare Bhd. swung to a web loss within the first quarter, dragged by a goodwill impairment on subsidiary Ravindrana
By Chester Tay
IHH Healthcare Bhd. swung to a web loss within the first quarter, dragged by a goodwill impairment on subsidiary Ravindranath GE Medical Associates Pte. and foreign-exchange losses.
IHH’s web loss was 319.eight million ringgit ($74.5 million), whereas income was MYR3.56 billion, down 2.4% from a 12 months earlier, the hospital operator mentioned in a stock-exchange submitting Monday.
The Malaysia-listed group expects greater prices of operations from supply-chain disruptions attributable to Covid-19 and wage inflation from persevering with competitors for expert healthcare staff in its residence markets.
Given the slowdown in affected person volumes caused by the pandemic, the group mentioned it reviewed its capital expenditure to defer purchases and capital-expansion tasks which might be non-critical.
With the gradual easing of motion restrictions that began in June, native affected person volumes have began to get well, it mentioned.
IHH Healthcare expects the progressive restoration to proceed, barring disruptions from subsequent waves of Covid-19 outbreaks and the potential renewal of lockdowns.
Write to Chester Tay at [email protected]