Thomson Medical - Maybank Research 2025-02-13: Facing Near-term Challenges, Downgrade To HOLD

• Thomson Medical reported 1HFY25 net loss of S$12.9m, mainly due to the poor performance in its Malaysian operations and increased interest expenses related to the acquisition of Fair Value Hospital in Vietnam.
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Rising opex and interest costs hit bottomline

• In 1HFY25, Thomson Medical’s turnover rose 18.4% y-o-y to S$199.1m, largely driven by the revenue contribution from Vietnam following the acquisition of Far East Medical Vietnam Limited (FEMVN) in Dec 2023. This 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.
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New CEO of Malaysian subsidiary to drive changes

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Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Previous report by Maybank:
2024-08-27 Thomson Medical Group - 2H24 Results Hit By Acquisition-Related Costs.

Price targets by other brokers at Thomson Medical Target Prices.

Listing of research reports at Thomson Medical Analyst Reports.

Relevant links:
Thomson Medical Share Price History,
Thomson Medical Announcements,
Thomson Medical Dividend Payout Dates & Corporate Actions,
Thomson Medical News