The Trendlines Group warns that a US$7.9 million write-off will send it into the red for it 1HFY2022 ended June 30.
The company, which invests in various start-ups, will impair the value of one of its portfolio companies Stimatix GI, in which it holds a 28.14% stake.
Stimatix, which makes products for colostomy management, is controlled by German healthcare company B. Braun Group, which is “refocusing” aspects of its product portfolio.
To date, Trendlines has been paid some US$2.7 million in dividends and sales of assets of Stimatix.
The write-off was first announced on July 14.
Trendlines is expected to report its results on Aug 10.
See also: IHH Healthcare’s 3QFY2024 patmi remains flat at RM534 mil
Trendlines’ SGX quoted shares last traded at 9.3 cents.
