IHH Healthcare's net income jumps 27% to $3.8m in Q2

The application of MFRS 129 boosted the company's income.

SGX-listed IHH Healthcare posted a net income of $3.8m (RM12.1m) in Q2, translating to a 27% year-on-year increase.

In a bourse filing, the company said the application of the Malaysian Financial Reporting Standards (MFRS) 129 helped it gain $91.8m (RM295.5m), which, in turn, boosted net income in Q2.

The company's revenue likewise grew in Q2, rising 2% YoY to $1.4b (RM4.4b) due to continued growth in its key markets and a return of both local and foreign patients.

"The ramp-up of Gleneagles Hong Kong Hospital (“GHK”) and contribution from General Hospital Acibadem Bel Medic (“Bel Medic”) acquired in July 2021 also played a part, though this was partially offset by the expected tapering of COVID-19 related services," added IHH Healthcare.

Given its strong Q2 performance, IHH Healthcare said it is confident that it will be able to ride out near-term challenges and "deliver long-term sustainable growth for all stakeholders."

1 SGD = 3.22 RM

Follow the link for more news on

IHH Healthcare

Net property income

Also Read

Singaporeans' physical well-being at highest level since 2019

SingHealth partners with OutcomesAI to integrate AI into medical workflows

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit