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Stocks to watch: RMG, Vard Holdings, IHC

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Raffles Medical Group

THE healthcare provider has reported that its FY2016 net profit edged up 1.3 per cent year on year to S$70.2 million, as growth in revenue was weighed down by higher consumption of inventories and consumables as sales of medical supplies and services grew.

Higher operating costs and staff expenses were due to the expansion of its existing operations and new medical centre at Holland Village.

Revenue was up 15.4 per cent to S$473.6 million, driven by growth in healthcare and hospital services due to higher patient load.

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Vard Holdings

THE shipbuilder has responded to queries by the Singapore Exchange (SGX), saying that the value of the contract for the design and construction of a krill fishing vessel for Aker BioMarine is roughly 750 million kroner (S$127.4 million).

The contract was announced by Vard on Feb 14 but it did not disclose the sum and said that the contract was subject to conditions.

International Healthway Corporation

The company on Monday morning filed a suspension request with the local bourse, saying that there are potential concerns arising from the redemption in relation to its multicurrency medium term note programme.

The development follows IHC's filing on Saturday which said that noteholders of the programme are entitled to redeem their bonds due to a change in the ownership of the company.

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