Latest news with #522
The Star
6 days ago
- Business
- The Star
IHH revenue grows to RM6.29bil in 1Q25
PETALING JAYA: IHH Healthcare Bhd will be forging ahead with its expansion and growth strategies to meet the increasing demand for quality healthcare services locally and across the region. Following the acquisitions of Timberland Medical Centre in Sarawak and Island Hospital in Penang in 2024, the group said in a Bursa Malaysia filing that it had opened the 127-bed Acibadem Kartal Hospital in Turkiye in the first quarter ended March 31, 2025 (1Q25) and expects to complete the acquisition of the 228-bedded Shrimann Superspeciality Hospital in India during the year. For 1Q25, IHH's net profit dropped to RM514mil from RM768mil in the previous corresponding quarter, while revenue grew to RM6.29bil from RM5.96bil a year earlier. 'The growth in revenue was driven by a sustained demand for quality healthcare services, a case-mix of more acute patients and price adjustments to counter inflation. 'The consolidation of Island Hospital, which was acquired in November 2024, also contributed to the increase in revenue.' IHH said its Singapore hospital inpatient admissions decreased 6% to 14,493 in 1Q25 while its revenue per inpatient admission increased 10% to RM67,294. 'Malaysia's hospital inpatient admissions increased 6% at 62,406 in 1Q25 while its revenue per inpatient admission increased 6% to RM11,334. 'India's hospital inpatient admissions increased 7% to 78,485 in 1Q25 while its revenue per inpatient admission increased 4% to RM10,152.' Meanwhile, Turkiye and Europe hospital inpatient admissions was flat at 66,776 in 1Q25 while its revenue per inpatient admission increased 16% to RM13,522 with price adjustments, especially in Turkiye, to counter hyperinflation. While the demand for quality healthcare remains robust, IHH said ongoing industry-wide challenges including rising cost pressures as well as higher energy costs and staff costs. 'In addition, payor pressures from both public and private insurers continue to shape reimbursement dynamics in the industry.' To unlock value from its key markets and to address the industry-wide challenges, IHH said it has embarked on a multi-year transformation initiative to drive continuous improvement through seven focus areas. The areas are clinical excellence, patient experience, new care models, operational excellence, payor and regulator engagement, employee and doctor value proposition, and the advancement of technology, data, and artificial intelligence. 'The group remains in a good position given its strong track record in delivering high-quality and cost-effective healthcare. 'By leveraging operational synergies across its international network, the group remains confident in its ability to maintain cost efficiency while upholding its commitment to value-based healthcare.' Despite global economic and geopolitical headwinds, IHH said it remains well-poised to navigate uncertainties, underpinned by strong fundamentals, strategic growth initiatives, and long-term healthcare megatrends.
The Star
7 days ago
- Business
- The Star
IHH to forge ahead with expansion and growth strategies
PETALING JAYA: IHH Healthcare Bhd will be forging ahead with its expansion and growth strategies to meet the increasing demand for quality healthcare services locally and across the region. Following the acquisitions of Timberland Medical Centre in Sarawak and Island Hospital in Penang in 2024, the group said in a Bursa Malaysia filing that it had opened the 127-bed Acibadem Kartal Hospital in Turkey in the first quarter of 2025 (1Q25) and expects to complete the acquisition of the 228-bedded Shrimann Superspeciality Hospital in India during the year. For 1Q25 (ended March 31, 2025), IHH's net profit dropped to RM514mil from RM768mil in the previous corresponding quarter, while revenue grew to RM6.29bil from RM5.96bil a year earlier. 'The growth in revenue was driven by a sustained demand for quality healthcare services, a case-mix of more acute patients and price adjustments to counter inflation. 'The consolidation of Island Hospital, which was acquired in November 2024, also contributed to the increase in revenue.' IHH said its Singapore hospital inpatient admissions decreased 6% to 14,493 in Q15 while its revenue per inpatient admission increased 10% to RM67,294. 'Malaysia's hospital inpatient admissions increased 6% at 62,406 in 1Q25 while its revenue per inpatient admission increased 6% to RM11,334. 'India's hospital inpatient admissions increased 7% to 78,485 in 1Q25 while its revenue per inpatient admission increased 4% to RM10,152.' Meanwhile, Turkiye and Europe hospital inpatient admissions was flat at 66,776 in 1Q25 while its revenue per inpatient admission increased 16% to RM13,522 with price adjustments, especially in Turkiye, to counter hyperinflation. While the demand for quality healthcare remains robust, IHH said ongoing industry-wide challenges including rising cost pressures as well as higher energy costs and staff costs. 'In addition, payor pressures from both public and private insurers continue to shape reimbursement dynamics in the industry.' To unlock value from its key markets and to address the industry-wide challenges, IHH said it has embarked on a multi-year transformation initiative to drive continuous improvement through seven focus areas - clinical excellence, patient experience, new care models, operational excellence, payor and regulator engagement, employee and doctor value proposition, and the advancement of technology, data, and artificial intelligence. 'The group remains in a good position given its strong track record in delivering high-quality and cost-effective healthcare. 'By leveraging operational synergies across its international network, the group remains confident in its ability to maintain cost efficiency while upholding its commitment to value-based healthcare.' Despite global economic and geopolitical headwinds, IHH said it remains well-poised to navigate uncertainties, underpinned by strong fundamentals, strategic growth initiatives, and long-term healthcare megatrends.
IOL News
24-04-2025
- Business
- IOL News
First-time buyers dominate South African property market in 2025
First-time buyers now account for 72.71% of the South African property market, reflecting increased confidence and favourable conditions for new entrants in 2025. First-time buyers now make up 72.71% of the market – an increase from 71.34% the year before – suggesting growing confidence among new entrants, according to the latest home loan stats released by MyProperty Home Loans. The statistics, comparing March 2024 to March 2025, and the results point to significant changes in the South African property landscape. The stats reveal that most notably, despite financial pressure stemming from the March National Budget, there were also some wins for homebuyers. The stats show that one of the more positive developments was the increase in the transfer duty exemption threshold. This, coupled with a reduced interest rate and zero transfer duty on properties priced below R1.2 million, has created a more favourable environment for first-time buyers compared to the same time last year. According to the data, the average purchase price for first-time buyers has risen slightly from R1,188,663 to R1,215,522. Meanwhile, the average bond amount approved jumped significantly from R1,029,192 to R1,567,694. At the same time, the average deposit required across all buyer categories also saw a sharp increase, rising from R159,471 to R352, figures align with broader market shifts. The average age of first-time buyers now sits at 39, highlighting a trend towards older South Africans entering the property market for the first time – possibly a result of extended financial constraints or a shift in life planning priorities. Another encouraging sign for buyers is the prime lending rate, which decreased from 11.75% to 11%, offering some relief on monthly repayments. Additionally, bond approval rates by applicants' banks edged up slightly, from 52.24% to 52.61%, pointing to a marginally more favourable lending climate. 'The data reflects a resilient property market with first-time buyers leading the charge,' said Michael-Anne Abrahams of MyProperty Home Loans. 'With improved lending conditions and increased consumer confidence, now is an opportune time for prospective homeowners to enter the market". With more supportive policies and shifting buyer demographics, 2025 may shape up to be a pivotal year for property in South Africa. PERSONAL FINANCE
