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Stocks to watch: HMC, IHH, Sheng Siong
Healthway Medical Corporation
THE Catalist-listed group has posted a loss of S$40.9 million for the three months as at end-December 2016, further widening from the S$904,000 loss in the same period a year ago.
This was largely due to higher allowance for doubtful loan, trade and other receivables, which grew to S$44.2 million in Q4 2016, from S$3.8 million in Q4 2015.
IHH Healthcare Berhad
THE healthcare giant is in the red for the fourth quarter with a net loss of RM42.5 million (S$13.5 million) owing to the recognition of one-off exceptional items, the bulk of which was due to forex losses on translation of non-Turkish lira borrowings.
The headline losses were due to unrealised foreign exchange loss of RM244.6 million, charges on its investment in Gleneagles Khubchandani Hospital in India and settlement for value-added tax claims in Turkey.
Stripping out exceptional items, profit after tax and minority interests improved 4 per cent to RM222.4 million over the quarter due to lower net financing costs with partial settlement of borrowings, higher foreign exchange gains and lower non-controlling interests' share of the profit over the period.
SUPERMARKET chain Sheng Siong Group has posted a 5.7 per cent increase in net profit for the fourth quarter on higher sales, but warned of lacklustre demand ahead.
Net profit for the three months ended Dec 31, 2016 stood at S$15.4 million, up from S$14.6 million a year ago.
Revenue rose 5.3 per cent to S$197 million for the quarter, due to the addition of new stores.