IHH sees continued impact from Covid-19


  • Corporate News
  • Friday, 28 Aug 2020

Occupancies at the group’s hospitals in Malaysia, Singapore and Turkey recovered to about 80% of pre-pandemic levels in June

PETALING JAYA: IHH Healthcare Bhd expects continued impact from the Covid-19 pandemic for the rest of 2020, especially if there are further outbreaks and renewed lockdowns.

However, the leading premium healthcare provider told Bursa that beginning June, local patient volumes and occupancy had recovered to between 40% and 60% with the easing of local movement restrictions.

Occupancies at the group’s hospitals in Malaysia, Singapore and Turkey recovered to about 80% of pre-pandemic levels in June.

It added that occupancies in India recovered to 65%.

For its second quarter ended June 30,2020, IHH Healthcare posted a RM120.6mil loss.

This compares with a RM185mil net profit a year ago.

Revenue was nearly 30% year-on-year lower at RM2.56bil.

For the six months under review, IHH Healthcare posted a RM440.4mil loss.

This compares with a RM274.5mil net profit a year ago.

Revenue, meanwhile, dropped 16% to RM6.1bil.

In a filing with Bursa Malaysia, the leading premium healthcare provider said due to the Covid-19 pandemic since late January 2020, patients had postponed non-urgent and non-essential treatment and visits to hospitals.

There was a drop in foreign patient volume especially from March 2020 onwards, due to the various travel restrictions imposed due to the virus outbreak.

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IHH Healthcare , hospitals , Malaysia , Singapore , Turkey , Covid-19 ,

   

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