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HC Surgical posts fivefold increase in 3Q earnings to $4.5 mil led by one-off fair value gain

Stanislaus Jude Chan
Stanislaus Jude Chan4/9/2019 06:50 PM GMT+08  • 3 min read
HC Surgical posts fivefold increase in 3Q earnings to $4.5 mil led by one-off fair value gain
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.
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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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