Clearbridge Health Ltd. responded to SGX queries on its FY2025 unaudited results, outlining ongoing difficulties faced by the purchaser, Lunadorii, in obtaining operational and financial control of Indonesian units PT Indo Genesis Medika and PT Tirta Medika Jaya since the acquisition completed on 7 October 2022. The company said the purchaser has faced non-cooperation from former management, restricted access to records and offices, frozen bank accounts, and locked corporate records at Indonesia’s Ministry of Law and Human Rights requiring unanimous shareholder consent to unlock, which has not been obtained. Clearbridge noted the Jakarta High Court ruled on 13 August 2025 in favour of the purchaser and IGM on the validity of a 2022 shareholders’ meeting, but an appeal is pending at the Indonesian Supreme Court, making the timeline uncertain. It also explained a fair value loss on bonds was based on a 5-year DCF using the purchaser’s historical and 9-month 2025 financials, and said it has fully provided for loans to the disposed entities due to limited visibility on repayment, while retaining options to exercise conversion or exchange rights under the bonds.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Clearbridge Health Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: SB0Y4CW0JC0VXLU3) on March 12, 2026, and is solely responsible for the information contained therein.
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