Cordlife expects 2024 net loss due to suspension of SG operations

The suspension was pursuant to the Ministry of Health's notices.

Cordlife Group Limited is expecting to report a loss for the financial year 2024 based on a preliminary assessment of its unaudited financial results.

The company said it is due to the suspension of the group’s Singapore operations under notices from the Ministry of Health (MOH) from 15 December 2023 up to 14 September 2024.

The net loss was also linked to the conditional resumption of cord blood banking service operations in a controlled manner of 30 units per month of new cord blood from 15 September 2024 to 13 January 2025.

Moreover, the MOH panel authorized refunds and fee waivers for clients whose stored items were impacted by High-Risk Tank temperature fluctuations.

As previously disclosed, the company estimates that these would decrease revenue and profit before tax by approximately $9.7m.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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