Singapore Institute of Advanced Medicine posts 1H FY26 loss of S$11.6m, negative working capital but pins going concern on rights issue and debt conversion
Summary:
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Group revenue rose 3% to S$8.26 million for the six months ended 31 December 2025, driven mainly by higher clinical and medical services fees across diagnostics and radiation therapy.
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Net loss after tax narrowed 8% to S$11.62 million from S$12.65 million a year earlier, as lower staff costs and operating expenses partially offset higher finance costs.
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The Group reported negative working capital of S$16.94 million, with current liabilities of S$23.27 million exceeding current assets of S$6.33 million and net cash of S$2.86 million.
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Management and the Board prepared the accounts on a going-concern basis, citing up to S$3 million director support, a proposed rights-cum-warrants issue that could raise up to S$14.9 million, and a planned S$23.4 million shareholder debt conversion, all subject to approvals and execution.
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Subsequent to the period, the company received S$3.90 million in prepayments from shareholders backing the rights issue and is seeking a whitewash waiver from the Securities Industry Council to facilitate the recapitalisation.