Latest news with #RM6.29
Barnama
6 days ago
- Business
- Barnama
IHH Healthcare Shares Down After Posting Lower First Quarter Net Profit
BUSINESS KUALA LUMPUR, May 30 (Bernama) -- IHH Healthcare Bhd shares fell in the mid-morning trading session after the hospital operator posted a lower net profit in the first quarter of its 2025 financial year (1Q FY2025). At 10.58 am, IHH dropped six sen to RM6.85, with 2.23 million shares changing hands. IHH's net profit fell to RM514 million in 1Q FY2025 from RM768 million in 1Q FY2024, while revenue rose to RM6.29 billion from RM5.96 billion. The improved revenue was due to gains in the hospital and healthcare segments, as well as Parkway Life REIT (PLife REIT), the company stated. Public Investment Bank Bhd (Public IB) and Hong Leong Investment Bank Bhd (HLIB) said IHH's first quarter results were in line with both their expectations and those of the market, and they have maintained their earnings forecasts for the healthcare provider for the fiscal years 2025 and 2026. Public IB said IHH's capacity expansion plans remain firmly on track, with a targeted increase of over 30 per cent in bed capacity to nearly 4,000 beds by 2028, with about 1,000 beds added in FY2024. In 1Q FY2025, it noted that IHH expanded its footprint with the opening of the 127-bed Acibadem Kartal Hospital in Turkey and is on track to complete the acquisition of the 228-bed Shrimann Superspeciality Hospital in India by FY2025. Additionally, bed capacity at the Mount Elizabeth Orchard Hospital in Singapore is gradually being restored as part of a three-year renovation project scheduled for completion in 2025. 'Despite headwinds, particularly from rising operating and energy costs, we believe the resilient demand for quality healthcare services, supported by IHH's strong fundamentals and focused strategic initiatives, positions it well to deliver sustainable growth amid global macroeconomic uncertainties. 'We reiterate our outperform call on IHH with an unchanged sum-of-the-parts-based target price (TP) of RM8.64,' it added.
New Straits Times
7 days ago
- Business
- New Straits Times
IHH healthcare Q1 net profit falls to RM514mil
KUALA LUMPUR: IHH Healthcare Bhd has recorded a drop in net profit to RM514 million in the first quarter of its financial year ending Dec 31, 2025 (1Q FY2025) from RM768 million in 1Q FY2024. Revenue for the quarter under review rose to RM6.29 billion from RM5.96 billion last year, due to gains in the hospital and healthcare segments and Parkway Life REIT (PLife REIT), the company said in a filing with Bursa Malaysia. "Hospital and healthcare revenue in 1Q FY2025 increased by 7.0 per cent to RM6.05 billion, driven by 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," it said. IHH Healthcare added that PLife REIT's external revenue for 1Q FY2025 rose 15 per cent to RM45 million, driven by contributions from the 11 nursing home properties in France acquired in December 2024. The company remains in a strong position, given its track record in delivering high-quality and cost-effective healthcare. By leveraging operational synergies across its international network, IHH Healthcare remains confident in its ability to maintain cost efficiency while upholding its commitment to value-based healthcare. "Despite global economic and geopolitical headwinds, the group remains well poised to navigate uncertainties, underpinned by strong fundamentals, strategic growth initiatives, and long-term healthcare megatrends," it said
Yahoo
24-03-2025
- Yahoo
Singapore police arrest 25, seize S$1.9m in island-wide crackdown on scams
SINGAPORE, March 23 — Singapore authorities have arrested 25 individuals and placed 65 others under investigation following a large-scale anti-scam operation conducted between mid-February and early March. The police, working alongside local banks, also seized approximately S$1.9 million (RM6.29 million) in suspected scam proceeds. In a statement yesterday, the Singapore Police Force said the operation targeted individuals involved in government official impersonation scams, investment scams, and job scams. More than 300 bank accounts linked to illicit fund transfers were identified and frozen, it added. The raids were carried out across the island to apprehend those suspected of allowing scammers to use their bank accounts for money laundering. Among those arrested were five women and 20 men, aged between 18 and 40. Authorities also collaborated with social media platforms and telecommunications firms to disrupt over 1,300 online enablers and deactivate more than 1,700 phone lines associated with scam activities. Scam losses in Singapore reached a record high of S$1.1 billion in 2024, with government official impersonation, investment, and job scams accounting for more than half of the total losses.
