0548 GMT - Thomson Medical Group is unlikely to turn profitable in the short term, Maybank Research's Eric Ong says in a report. The Singapore-listed company posted a fiscal 1H net loss of S$12.9 million, with the magnitude of the loss catching the analyst off guard. The poor performance of its Malaysian operations and increased interest expenses related to the acquisition of FV Hospital in Vietnam were the main contributors. The healthcare-services provider probably needs more time to fully reap the benefits of maximizing its assets and enhancing margins in its key markets, Ong adds. The brokerage downgrades the stock to hold from buy and cuts the target price to S$0.05 from S$0.06. Shares are 2.2% lower at S$0.044. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 00:48 ET (05:48 GMT)
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