Broker: DBS
Date of Report: Inferred to be FY25 results release (exact date not specified, inferred to be recent based on “more updates to come after the briefing this morning”)

Excerpt from DBS report.

Report Summary

• Raffles Medical Group reported FY25 PATMI of SGD70.6mn (+13.4% y/y) on SGD765.3mn of revenue (+1.8% y/y), supported by higher patient volumes, improved bill sizes, and operational efficiencies.
• The Singapore operations remain resilient and anchor the group’s stability and cash flow, funding expansion in China and the insurance segment.
• China operations are narrowing losses with rising patient volumes and deeper local collaborations, while Raffles Health Insurance saw improved profitability from contract repricing and disciplined expense control.
• Board proposed a higher final dividend of 3.0 Scents (up from 2.5 Scents).
• DBS maintains a BUY call with a target price of SGD1.32, with more updates expected after the company briefing.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com.sg