IHH Healthcare posts over 50% net income drop in Q3

Its net income stood at RM251.8m (S$77.16m).

IHH Healthcare reported its net income declined by 54% to RM251.8m (S$77.16m) in the third quarter of the year, linked to the high-base effect from the same quarter in 2021 amongst others.

“Our headline profits decreased by 54% due to a high base in Q3 2021 that saw a recognition of higher deferred tax assets of RM248.2m (S$74.2m). This was coupled with higher depreciation and amortisation due to MFRS 129-related adjustments and foreign exchange losses in Q3 2022,” Kelvin Loh, Managing Director and CEO, IHH Healthcare, said.

“However, our core operating performance improved. Like-for-like, Net Operating Income for Q3 2022 improved 6% to RM374.2m (S$114.64m) and revenue was up 4% as we pivoted well out of the pandemic.”

The company’s revenue went up by 3% year-on-year to RM4.6b (S$1.4b) over the same period.

This was driven by the return of both local and foreign patients, IHH Healthcare noted as well as the ramp up of the Gleneagles Hong Kong Hospital and contribution from the General Hospital Acibadem Bel Medic and Ortopedia Hospital.

Follow the link for more news on

IHH Healthcare

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia