Singapore: Q1 profits slump at Raffles Medical

First quarter profits have slumped at Raffles Medical Group (RMG), the largest private medical group practice in Singapore, thanks to startup costs in China. Profits for the quarter fell 11.2% to S$13.7m (US$10.1m) on revenues that grew 6.7% to S$128.3m. The decline in profits is due to the startup costs at the 700-bed Raffles Hospital…