SUBSCRIBERS

Brokers' take

Published Wed, Nov 28, 2018 · 09:50 PM

IHH Healthcare | Buy Target price: RM6.35 (S$2.09) Nov 28 close: S$1.71 DBS Group Research, Nov 28

Headline net profit fell 86 per cent for the first nine months of 2018, year-on-year (y-o-y), to RM118 million, largely impacted by higher exchange translation losses following the sharp depreciation of the Turkish lira especially in Q3 2018 and the absence of a one-off RM555 million gain from the disposal of its stake in Apollo Hospitals which was recognised in 1H 2017. This is partially offset by foreign exchange gains (approximately RM23 million) arising from the strengthening US dollar on the group's US dollar-denominated cash balances in the first nine months of 2018. Going forward, given that IHH can now raise its stake in Acibadem to 90 per cent following the exercise of options by founder Charimand and his wife, management can soon proceed to capitalise the existing US$250 million equivalent of subordinated loans. Management ex…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here