KUALA LUMPUR: IHH Healthcare Bhd will continue to take proactive steps to mitigate the impact of the pandemic by diversifying into new revenue streams including Covid-19 related services, improving the case mix, and keeping tight cost and capital discipline while carrying out its public health obligations.
Managing director and chief executive officer Dr Kelvin Loh Chi-Keon said IHH had set a targeted strategy and outlook for each market, factoring in the continued impact from Covid-19 and anticipating further disruptions from subsequent outbreaks and renewed lockdowns.
“The group remains in a strong financial position with ample liquidity and cash flow and is well-placed to ride out the pandemic.
“IHH is confident that its longer term growth trajectory remains intact as it executes on its fefreshed strategy, ” he told a virtual media briefing on the group’s performance for the financial year ended Dec 31,2020 yesterday.
Loh said IHH had diversified earnings across 10 markets, giving it resilience as its markets were at different phases of the pandemic.
IHH announced that its net profit fell by almost half to M288.88mil in FY20 from RM551.48mil in the year before. — Bernama
Revenue declined by 10% to RM13.40bil from RM14.91bil previously due to the effects of the Covid-19 pandemic especially in the second quarter, it said in a filing with Bursa Malaysia. -- Bernama