Latest news with #IHHHealthcareBhd
The Star
24-07-2025
- Business
- The Star
Trading ideas: IHH, EcoWorld, CLMT, HI Mobility, Evergreen, TT Vision, Sentoria, AME REIT, UOA REIT, Infomina
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. IHH Healthcare Bhd is consolidating its India hospital operations by integrating Fortis Healthcare Ltd and Gleneagles Healthcare India Pvt Ltd. Tan Sri Liew Kee Sin, executive chairman of Eco World Development Group Bhd , disposed of 100mn shares — representing a 3.4% stake — over 2 days, for an estimated RM190.0mn. Capitaland Malaysia Trust has completed its accelerated bookbuilding exercise to raise RM250.0mn in gross proceeds from its private placement. A total of 409.8mn new units at 61.0sen each will be issued under the private placement, representing a 6.9% discount to the market price. HI Mobility Bhd has denied claims that it reduced the salaries of its cross-border bus drivers, stating that all payments have been made in full and in accordance with employment contracts and statutory regulations. Evergreen Max Cash Capital Bhd has entered into a subscription agreement with DPK Private Equity Sdn Bhd to raise RM40.0mn. TT Vision Holdings Bhd has via its wholly-owned subsidiary TT Vision Technologies Sdn Bhd entered into a 60-year lease with Penang Development Corporation for a 3.6-acre plot in Bayan Lepas Industrial Park for RM25.1mn. Sentoria Group Bhd has reached a settlement with former CEO Datuk Loh Yuen Tuck in the Industrial Court. Under a consent award, Sentoria will pay RM142,800, and both parties will mutually release and discharge all claims against each other. AME Real Estate Investment Trust recorded a 11.5% YoY increase in net property income to RM12.7mn for 1QFY26, contributed by 2 new property acquisitions and higher rental rates from tenancy renewals. UOA Real Estate Investment Trust , which mainly manages commercial properties, saw its net rental income increase by 8.9% YoY to RM18.0mn for 2QFY25 driven by improved occupancies. Infomina Bhd has booked its first quarterly loss since its listing in November 2022, with a net loss of RM3.1mn in 4QFY25, which it attributed to a one-off RM10.0mn provision for doubtful debts related to a customer in the Philippines.
Barnama
23-07-2025
- Business
- Barnama
IHH Strengthens India Presence Through Fortis-Gleneagles Collaboration
KUALA LUMPUR, July 23 (Bernama) -- IHH Healthcare Bhd (IHH) has announced a strategic collaboration between its two Indian subsidiaries, Fortis Healthcare Ltd and Gleneagles Healthcare India Pvt Ltd, aimed at strengthening operational and financial synergies in the country. In a filing with Bursa Malaysia today, the group said the move involves an operation and maintenance services agreement under which Fortis will manage five out of six hospitals currently operated by Gleneagles India. 'This is a significant step towards strengthening IHH's pan-India healthcare platform with enhanced operational scale, clinical excellence, and geographical reach, while retaining their respective talent pool and autonomy in financial management.
The Star
09-07-2025
- Business
- The Star
IHH Healthcare eyes Indonesia, Vietnam for expansion
IHH Healthcare Bhd group chief executive officer Dr Prem Kumar Nair. — FAIHAN GHANI/The Star IHH Healthcare Bhd . is looking to potential new markets Indonesia and Vietnam as the Malaysian hospital operator continues building scale to offset rising healthcare costs in the region. Indonesia is attractive, thanks to its healthcare reforms and foreign ownership relaxation, while Vietnam has emerged as a booming market, according to Chief Executive Officer Prem Kumar Nair. "We get a lot of patients from Vietnam into our Singapore operations,' he said in an interview in Kuala Lumpur this week. The company currently operates more than 80 hospitals in 10 countries, including Singapore, India and China, and has been actively acquiring healthcare facilities in recent years. It bought Island Hospital Sdn. Bhd. in Malaysia in 2024. Its Turkish unit Acibadem and Indian affiliate Fortis Healthcare also purchased hospitals in their respective markets in the last two years. The company has $14 billion in market capitalization and is the most valuable listed hospital operator in Southeast Asia. The desire to widen expansion in the region comes as IHH looks to make up for rising import costs in the industry. The group is now procuring medical equipment, consumables and generic medications in bulk to cut costs on imported items, Prem Kumar said. IHH is also planning to consolidate its presence in China, according to Prem Kumar. It turned its clinic business into a profitable operation and is seeing rising number of patients at its hospital in Shanghai. Still, China's decision to ease restrictions on foreign investment in healthcare sector will not immediately sway IHH into expanding further in the world's second-largest economy. "In China, the public sector is a very big competitor to private healthcare,' he said. "We are the only foreign operator in China who has a combination of clinics, and an ecosystem, so we will build on it.' Read: China Opens More Manufacturing, Health Care to Foreign Money The company's priorities also include tapping growing opportunities in existing markets, where it's already committed to expanding hospital bed capacity by 33% from 2024 through 2028 - a 4,000 bed target. "There's no dearth of opportunities in the countries we operate,' he said. Beyond Hospitals IHH booked 6.29 billion ringgit ($1.48 billion) in first-quarter revenue, an increase of 5.7% from a year ago. Its profit slid 33% to 514 million ringgit, which the company attributed to exceptional accounting adjustments. Singapore, Turkey and Malaysia are currently its main revenue drivers, but the company expects India to become a major contributor in the coming years amid booming demand for private healthcare. With 35 hospitals, India already has IHH's biggest in-country network. Prem Kumar said he was focused on growing out-of-hospital care in IHH's markets - including ambulatory surgical and care centers, along with primary care centers - to help control cost pressures. The group currently operates 60 healthcare facilities that aren't hospitals. "If we depend on hospitals alone, healthcare costs are going to rise tremendously,' he said. Singapore already has such an ecosystem in place while Hong Kong is headed in that direction, Prem Kumar said. Still, its home market of Malaysia doesn't allow hospital operators to also run other healthcare facilities. IHH plans to make representations to Malaysia's Health Ministry in hopes the rule will be changed. "We definitely want to move, in Malaysia, into the out-of-hospital sector in a big way as well,' he said. IHH shares have declined 8.4% so far this year, while Malaysia's benchmark stock index has fallen around 7% amid concerns over US tariffs. - Bloomberg
New Straits Times
29-06-2025
- Health
- New Straits Times
IHH launches S$5mil grant to drive global research and Innovation
KUALA LUMPUR: IHH Healthcare Bhd has launched a transformative S$5 million research grant and innovation sandbox programme to accelerate clinical research and innovation across its global network. Disbursed over five years, the fund supports IHH clinicians and employees in conducting clinical research and testing new ideas aimed at tackling key health challenges and improving patient care. IHH noted that depending on the strength of proposals and the interest level, the SGD5 million fund has the potential to grow further. It said the first grant call in March this year focused on oncology and chronic diseases, two of the most critical fronts in our fight to improve global health. IHH Healthcare group chief executive officer Dr Prem Kumar Nair said the launch of the first research grant and innovation sandbox marks a pivotal step in the group's multiyear transformation journey to become a global healthcare leader. He added that by investing in its clinicians and employees, IHH is turning ideas into impact from within, creating solutions that improve lives and elevate care for communities around the world. "For a start, we are focusing on oncology and chronic disease, two of the most urgent and complex challenges facing healthcare today. "I am inspired by the ingenuity of our teams and the calibre of ideas they have brought forward. "I look forward to seeing each of our shortlisted projects reach its full potential," he said in a statement. Out of 55 submissions, the Grant Governance Committee, comprising senior management and domain experts from across IHH, shortlisted seven research grant projects and eight innovation sandbox applications. Under the clinical research track, each project is expected to be completed within one year – or up to a maximum of two years for complex cases – with findings and outcomes published as part of the wider healthcare literature on oncology and chronic diseases. The projects under the Innovation Sandbox track will prioritise ideas that demonstrate clear impact, such as scalability across IHH markets, cost savings, improved patient outcomes and better patient experience. The group will open its next call for submissions in September this year, continuing its commitment to empowering its people to shape the future of healthcare from within.
The Sun
27-06-2025
- Business
- The Sun
IHH Healthcare launches S$5m programme to spur clinical research, innovation in global network
PETALING JAYA: Integrated healthcare provider IHH Healthcare Bhd has launched a transformative S$5 million (RM16.5 million) Research Grant and Innovation Sandbox Programme to accelerate clinical research and innovation across its global network. Disbursed over five years, the fund empowers IHH clinicians and employees to pursue impactful clinical research and pilot innovative ideas from the ground up, addressing critical health issues and driving advancements that improve patient experiences and outcomes. Depending on the strength of the proposals and the level of interest, the S$5 million fund has the potential to grow further. Group CEO Dr Prem Kumar Nair said, 'The launch of our first research grant and innovation sandbox marks a pivotal step in our multiyear transformation journey to become a global healthcare leader. 'By investing in our clinicians and employees, we are turning ideas into impact from within, creating solutions that improve lives and elevate care for communities around the world. 'For a start, we are focusing on oncology and chronic disease, two of the most urgent and complex challenges facing healthcare today. 'I am inspired by the ingenuity of our teams and the calibre of ideas they have brought forward. I look forward to seeing each of our shortlisted projects reach their full potential,' he said in a statement. The first grant call in March this year focused on oncology and chronic diseases, two of the most critical fronts in our fight to improve global health. Out of 55 submissions, the Grant Governance Committee, comprising senior management and domain experts from across IHH, shortlisted seven research grant projects and eight innovation sandbox projects. Under the clinical research track, each project is expected to be completed within one year, or up to a maximum of two years for complex cases, with findings and outcomes published as part of the wider healthcare literature on oncology and chronic diseases. The projects under the innovation sandbox track will prioritise ideas that demonstrate clear impact, such as scalability across IHH markets, cost savings, improved patient outcomes and better patient experience. The group will open its next call for submissions in September, continuing its commitment to empowering its people to shape the future of healthcare from within.
