OUE Healthcare warns of H1 2024 loss

One reason for the loss is the disposal of vacant land in Kuala Lumpur.

OUE Healthcare expects a loss attributable to shareholders in H1 2024.

In a bourse filing, the company attributed its expected net loss to its one-off loss arising from the disposal of the vacant land in Kuala Lumpur, amongst others.

Startup costs and operating losses from its hospitals in China, the foreign exchange impact of a strong Singapore dollar, and higher financing costs from loans taken to fund the 2023 acquisition of Healthway Medical Corporation Limited's shares also affected the company's bottom line, according to their statement.

The company is finalising its unaudited financial results for the period and will release it on or before 14 August.

In the meantime, the company advised its shareholders and potential investors to exercise caution when dealing with its shares.

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