IHH Healthcare (IHH)

Bloomberg reports IHH Healthcare is mulling the sale of its Chinese assets for US$1 billion

PLife REIT and IHH in strategic collaboration for Singapore hospitals.

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The tightening of Covid-19 movement measures is expected to curtail patient volumes in Malaysia and Singapore.

IHH’s Singapore market saw revenue improve by 14% y-o-y to RM1.16 billion mainly due to Covid-19-related services rendered.

Shares in Kuala Lumpur closed up 7.7% following the Bloomberg News report, their biggest intraday move since March 2020.

Deliberations are ongoing and there is no certainty that IHH will proceed with a transaction, according to insiders.

This translates to basic earnings per share (EPS) of 3.28 sen for the quarter, compared to EPS of 2.44 sen a year ago.

“We believe IHH has sufficient financial strength to tide it through the difficult times, as it also works to defer its non-critical expansion plans and further pare down its non-lira debt exposure,” says CGS-CIMB analyst Ngoh Yi Sin.

Private healthcare operator IHH Healthcare reported a net loss of RM319.8 million ($103.8 million) for 1Q20, from the RM89.5 million profit a year ago.