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Thomson Medical directors take 20% fee cut, managers forgo bonus
WITH effect from June 1, the board of Thomson Medical Group (TMG) will take a 20 per cent cut in directors’ fees.
Meanwhile, the senior management have volunteered to forgo their annual wage increment, performance bonus and annual wage supplement (also called the “13th month payment”) this year, the healthcare group said on Thursday.
These are among the “preemptive steps” TMG is taking to ensure the viability of the business and protect employees’ jobs during the Covid-19 pandemic, it added.
The group, which operates in Singapore and Malaysia, is also adopting other cost-cutting measures and continues to “fine-tune” daily operations and strategies along with the evolving business environment.
Demand for TMG’s obstetric services in Singapore remains healthy, but several of the group’s service and satellite clinics remain closed during the “circuit-breaker” period while others are operating under significantly restricted conditions.
In Malaysia, the movement control order has reduced patient loads at the hospital and fertility operations, as people postpone their non-emergency treatments.
TMG said it expects obstetric services in Singapore to stay healthy, while demand for some of its services across the group will likely gradually pick up when control measures are progressively relaxed in the locations in which it operates.
The counter was trading flat at 5.9 Singapore cents as at 9.11am on Thursday.