Zoom Video Communications' third-quarter revenue growth rate slowed to 35 per cent as demand for its video-conferencing tools eased from the pandemic-fuelled heights last year, sending its shares down about 6 per cent on Monday.
Revenue was at US$1.05 billion (S$1.4 billion) in the quarter ended Oct 31, Zoom said, after rising 54 per cent in the previous quarter and surging 360 per cent a year earlier.
The stock, a pandemic winner, fell to US$227.50 in extended trading, after having lost about 28 per cent this year.
IHH Healthcare, a Kuala Lumpur-based hospital group, is considering the potential sale of its Parkway China unit, in a deal that could value the chain at as much as US$1 billion (S$1.36 billion), said people familiar with the situation. They said it is in talks with potential advisers on a possible sale of the unit.
Taikang Insurance Group and Shanghai Hongxin Medical Investment Holding are weighing whether to take part, the people said. Taikang is a minority shareholder in the Malaysian firm's China portfolio, while Shanghai Hongxin holds a stake in one of its hospitals, according to a statement.
Sea Ltd is expected to see an upside in its revenue due to potential growth in its gaming, e-commerce and fintech businesses, said DBS Group Research. In a report yesterday, the brokerage maintained a "buy" call on the Singapore-based consumer Internet firm and raised the target price from US$390 to US$402, on higher valuation from its e-commerce business. The higher price is based on an adjustment to the valuations of Sea's e-commerce, gaming and fintech segments. Analyst Sachin Mittal is hopeful its e-commerce business will be a "hyper-growth story".
THE BUSINESS TIMES