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Worst over for IHH Healthcare's new Gleneagles HK, says CIMB

PC Lee
PC Lee1/8/2018 03:45 PM GMT+08  • 2 min read
Worst over for IHH Healthcare's new Gleneagles HK, says CIMB
SINGAPORE (Jan 8): CIMB is maintaining its "add" call on IHH Healthcare with higher target of $2.35 given the worst could be over for the newly-opened Gleneagles HK.
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SINGAPORE (Jan 8): CIMB is maintaining its "add" call on IHH Healthcare with higher target of $2.35 given the worst could be over for the newly-opened Gleneagles HK.

CIMB says Gleneagles HK's quarterly EBITDA losses have been narrowing, aided by a gradual shift from "bread and butter" services to higher intensity specifications, increasing line-up of insurance providers and greater awareness in the domestic market.

Meanwhile, strong Singapore and Malaysia hospital operations provide a sustainable earnings base for the group, underpinned by favourable macro trends.

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