Thomson Medical warns of H1 loss on poorer Malaysia performance
It has been hit by the termination and discounts of certain insurance contracts
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THOMSON Medical expects to report a loss after tax for the six months ended Dec 31, 2024, following a preliminary review of the unaudited financial results.
This is mainly due to poorer performance of its Malaysia market, partly resulting from the termination and discounts of certain insurance contracts, it said in a bourse filing on Friday (Jan 24).
The hospital operator also had increased interest expenses from the acquisition of Far East Medical Vietnam, as well as cessation of projects in Singapore.
Further details of the financial performance for its first half will be disclosed on or before Feb 14, it said.
Shares of Thomson Medical closed flat at S$0.049 on Friday, before the announcement.
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