SINGAPORE (Apr 9): Medical services provider HC Surgical Specialists saw its earnings surge five-fold to $4.5 million for the 3Q19 ended February, from $0.9 million a year ago.
This was mainly attributable to a fair value gain on financial assets of $2.9 million during the quarter, arising due to recognition of financial assets following a reclassification in line with the group’s adoption of new financial reporting standards.
In 3Q19, HC Surgical registered a gain of $0.3 million on disposal of investment in an associate, related to the disposal of 4 million MediNex shares in connection with MediNex’s IPO share placement.
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