IHH Healthcare's Q4 net earnings dive to RM40.6m

Singapore

HIGHER net interest expenses and depreciation from new hospital projects hurt mainboard-listed IHH Healthcare's fourth quarter underlying profit, but new chief executive and managing director Kelvin Loh has vowed for a strategy refresh and portfolio review to make 2020 a "year of change".

Fourth-quarter net profit excluding exceptional items fell 15 per cent year-on-year to RM289.8 million (S$96 million) as additional loans were taken for the Fortis acquisition and working capital while subsidiary Acibadem's euro bank loans and interest were swapped into the appreciating Turkish lira.