Divestment, foreign exchange gains lift IHH's Q2 profit
Net profit rises 8% to RM246.1m, as group reaps RM54.8m gain from sale of 90% stake in Shenton Insurance
Add BT as a preferred sourceSingapore
GAINS from a divestment and foreign exchange helped lift mainboard-listed IHH Healthcare Berhad's second- quarter net profit by 8 per cent to RM246.1 million (S$82.8 million) year on year.
The group recorded a RM54.8 million gain from the divestment of its 90 per cent stake in Shenton Insurance. There was also an exchange gain of RM7.5 million relating to Acibadem Holdings' non-Turkish lira borrowings in Q2 2016, compared to losses of RM22 million a year ago.
TRENDING NOW
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Should you sacrifice some CPF Life income in favour of ILPs? Tread carefully
