Healthway Medical Corporation widens Q4 loss on allowance for doubtful loan receivables

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HEALTHWAY Medical Corporation on Friday posted a loss of S$40.9 million for the three months as at end-December 2016, further widening from the S$904,000 loss in the same period a year ago.

As the fourth quarter figures were impacted by higher allowance for doubtful loan, trade and other receivables, which expanded to S$44.2 million in 2016, from S$3.8 million in 2015.

Revenue for the quarter came in marginally higher at S$23.4 million.

Loss per share in Q4 FY16 was 1.66 Singapore cents, compared with 0.04 S cent in the year-ago period.

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