Raffles Medical

Raffles Medical: Earnings to Remain Under Pressure in 2022 but Long-Term Prospects Remain Attractive

Equity Bottom-Up
199 Views, 11 May 2022 05:26
EXECUTIVE SUMMARY
  • Raffles Medical (RFMD SP) is a private medical provider in Singapore. The company owns and operates a network of medical clinics and hospitals.
  • The company’s earnings saw a boost in 2021 driven by demand for Covid-19 related services such as PCR tests, vaccine administration and operation of Cov-19 treatment facilities.
  • With Singapore reopening borders post Covid, we expect foreign patient volume to see a recovery, however, lower revenue from Covid related services would negatively impact earnings in 2022.
detail (7-minute read)
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Shifara Samsudeen, ACMA, CGMA
Equity Analyst
LightStream Research
JapanIndustrialsEquity Bottom-UpEquity Capital Markets

A chartered management accountant with more than 10 years of rich experience in investment research and financial analys... 

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