Ramkhamhaeng Hospital's Consolidation of Thonburi Healthcare Group's Financials May Take Some Time -- Market Talk

Dow Jones12-10

0602 GMT - Ramkhamhaeng Hospital's consolidation of Thonburi Healthcare Group's financials might take some time, CGS International's Kasem Prunratanamala says in a research report. Management recently said it started consolidating THG's financials in August, the analyst says, noting the hospital had increased its stake in THG to 49.99% from 24.99%. However, THG's net profit that Ramkhamhaeng Hospital consolidated in 3Q since August was only THB1.7 million, based on the brokerage's calculation. Hence, interest costs from Ramkhamhaeng Hospital's capital injection into THG outweigh the benefit of owning the stake in THG at this stage. The brokerage keeps the stock's hold rating, but raises the target price to THB18.20 from THB17.90 to reflect valuation roll-forward. Shares last closed at THB17.90. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 10, 2025 01:02 ET (06:02 GMT)

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However, THG's net profit that Ramkhamhaeng Hospital consolidated in 3Q since August was only THB1.7 million, based on the brokerage's calculation. Hence, interest costs from Ramkhamhaeng Hospital's capital injection into THG outweigh the benefit of owning the stake in THG at this stage. The brokerage keeps the stock's hold rating, but raises the target price to THB18.20 from THB17.90 to reflect valuation roll-forward. Shares last closed at THB17.90. 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Management recently said it started consolidating THG's financials in August, the analyst says, noting the hospital had increased its stake in THG to 49.99% from 24.99%. However, THG's net profit that Ramkhamhaeng Hospital consolidated in 3Q since August was only THB1.7 million, based on the brokerage's calculation. Hence, interest costs from Ramkhamhaeng Hospital's capital injection into THG outweigh the benefit of owning the stake in THG at this stage. The brokerage keeps the stock's hold rating, but raises the target price to THB18.20 from THB17.90 to reflect valuation roll-forward. Shares last closed at THB17.90. 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However, THG's net profit that Ramkhamhaeng Hospital consolidated in 3Q since August was only THB1.7 million, based on the brokerage's calculation. Hence, interest costs from Ramkhamhaeng Hospital's capital injection into THG outweigh the benefit of owning the stake in THG at this stage. The brokerage keeps the stock's hold rating, but raises the target price to THB18.20 from THB17.90 to reflect valuation roll-forward. Shares last closed at THB17.90. 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