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Healthway Medical chalks up a profit in Q1

HEALTHWAY Medical Corp (HMC) was in the black in the first quarter with a profit of S$116,000, versus losses of S$504,000 a year ago.

Revenue jumped nearly 24 per cent year on year to S$28.66 million, mainly due to the increase in revenue from its primary healthcare segment and specialist & wellness healthcare segments.

In an update on the independent reviewer that had been brought in to look into the extensions of loans by the group to Healthway Medical Enterprises and Wei Yi Shi Ye Co to establish whether there are any breaches of the Singapore Exchange listing rules, HMC said that the independent reviewer, BDO, had completed its review. "The company and the independent reviewer are working closely to finalise the report so as to meet the deadline of June 30, 2018," it said.

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