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Thomson Medical back in the black but new projects need gestation and valuations are lofty

Amala Balakrishner
Amala Balakrishner3/18/2019 07:30 AM GMT+08  • 5 min read
Thomson Medical back in the black but new projects need gestation and valuations are lofty
SINGAPORE (Mar 15): In its first full year following the completion of its reverse takeover (RTO) deal in 2017, Thomson Medical Group, formerly known as Rowsley, has turned profitable as contributions from the newly acquired medical business kick in whi
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SINGAPORE (Mar 15): In its first full year following the completion of its reverse takeover (RTO) deal in 2017, Thomson Medical Group, formerly known as Rowsley, has turned profitable as contributions from the newly acquired medical business kick in while a lower impairment loss was made on goodwill for its underperforming real-estate business.

Its earnings may be nothing to shout about for now, but the company is moving ahead to generate growth from a broader range of medical services, delivered in new markets such as Malaysia.

At the results briefing, Roy Quek, the group CEO, said he was “happy” with the turnaround. This current year, the company will deliver on a wider range of services and will be profitable “for sure”, he added.

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