- Thomson Medical Group (SGX:A50)’s 2H24 headline PATMI of S$13.4m (-2.5% y-o-y) came in below our projection, mainly due to higher-than-expected opex and finance costs following the completion of acquisition of FV Hospital in Vietnam. This was partly offset by reversal of impairment losses on investment property & development property recognised previously.
Vietnam hospital provides strong addition
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- However, the increase was partially offset by the cessation of project-related services, such as managing the vaccination centres and the Transitional Care Facilities (TCF) in Singapore in Dec 2023, as well as lower patient loads and case intensity, termination of certain customer contracts and discounts given to customers in Malaysia.
Broadening its reach to be a regional player
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- To drive synergies across its Southeast Asia footprint, Thomson Medical is also expanding its doctor network, enhancing digital patient engagement and sharing clinical expertise across its key markets.
More government support for new parents
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