OUE Healthcare expects to record a net loss in its 1HFY2024 ended June compared to the net profit it posted in 1HFY2023, the company says in a profit guidance.
This is mainly due to one-off loss arising from the disposal of the vacant land located in Kuala Lumpur, Malaysia, as announced by the company on May 15; startup costs and operating losses relating to its hospitals in China; foreign exchange impact arising from a strong Singapore dollar; and higher financing costs from loans taken to fund the acquisition of Healthway Medical’s shares in 2023.
Further details will be disclosed when the company announces its financial results for 1HFY2024 on or before 14 August 2024.
Shares in OUE LJ3 Healthcare closed 0.1 cent higher or 3.57% up on July 26 at 2.9 cents.
