IHH stock up 2% to RM5.93 after heavy trading on Friday 


IHH Healthcare Bhd stocks rose another 11 sen or 1.9% to RM5.95 at 11.15am today after witnessing a heavy selling on Friday. More than 700,000 shares had exchanged hands in the early part of today’s trading.

On Friday, close to 40 million shares exchanged hands when the share ended up 2 sen to RM5.82.

The stock has 21 ‘buy’ calls from the research fraternity, with two ‘hold’ and no ‘sell’ recommendations.

For the financial year ended Dec 31, 2022 (FY22), IHH reported a net profit of RM1.55 billion on a turnover of RM17.99 billion. THe net profit was down 16.9% from a year earlier due to the impairment loss relating to the group’s assets and goodwill in China.

IHH’s top shareholders are Mitsui Co Ltd with a 32.8% stake, Pulau Memutik Ven Sdn Bhd (25.94%) and Employees Provident Fund Board (10.6%). It has a market capitalisation of RM52.22 billion.