Malaysia's IHH eyes Thai hospital operator

PETALING JAYA: IHH Healthcare Bhd is believed to be looking at acquiring an 11.5% associate stake in Bangkok Dusit Medical Services Pcl (BDMS), the largest hospital operator listed on the Stock Exchange of Thailand, to gain a foothold in Thailand, sources said.

It is understood that the acquisition could be funded by a combination of cash and issuance of new shares.

The 11.5% stake in BDMS has a market value of 30.64 billion baht (RM3.27bil) based on the last closing price of the company’s shares at 17.20 baht.

IHH has a market capitalisation of RM39.26bil on Bursa Malaysia while it is valued at S$15bil (RM39.72bil) on the Singapore stock exchange.

The acquistion will be funded internally and externally, the quantum of which will be determined later by the company.

“IHH has been wanting to gain an entry into Thailand and this move would give it an instantaneous exposure to the country. Acquisition of an entire stake can take longer and will be more tedious in regulatory terms,” the source said.

“The IHH brand name is well recognised, especially since its successful IPO (initial public offering), and this acquisition will help it solidify its presence in Asia,” he added.

Analysts said that the acquisition made sense as the baht had been strenghtening in the past year against the ringgit and Singapore dollar.

“The healthcare sector excels on both fronts of being defensive in nature as earnings are backed by a growing exposure to insurance-based clients, and they can be viewed as growth companies as well,” said MIDF Research healthcare analyst Ahmad Annuar Rahman.

The purchase of the Thai asset could be a catalyst for the stock moving forward, he added.

The acquisition into BDMS will be the second associate stake buy for IHH after its 10.85% interest in India-based Apollo Hospital Enterprise Ltd.

At present share prices, BDMS is valued at a forecast FY14 ended Dec 31 price/earnings ratio of 36.52 times and price-to-book ratio of 5.82 times, according to Bloomberg data.

IHH was last traded at a forecast FY14 ended Dec 31 price/earnings ratio of 51.06 times and a price-to-book ratio of 2.07 times.

BDMS operates six major hospital groups in Thailand – Bangkok Hospitals, Samitivej Hospitals, BNH Hospital Phyathai Hospital, Paolo Memorial Hospital and the Royal Hospitals with a total of 29 hospitals – and two in Cambodia with a bed count of almost 5,000.

A presence in BDMS would also ease targeting of medical tourism dollars from the north Asean region for IHH indirectly, given the bigger similarity of country cultures of Cambodia, Laos, Myanmar and Vietnam to Thailand.

Source: http://www.thestar.com.my/Business/Business-News/2015/01/05/IHH-eyes-Thai-hospital-operator/?style=biz

IHH Q3'14

IHH Healthcare 2Q earnings rise 33%

Soutce: The Edge Financial Daily

IHH Q2'14

IHH 3年投资34亿增床位 放眼2017年达9000张

（吉隆坡20日讯）综合保健控股（IHH，5225，主板贸服股）总执行长陈诗龙指出，该公司将在未来3年内，投入34亿令吉增加3000张床位。
在今天的股东大会后，陈诗龙表示，目前该公司在区域内的床位共有6000张，并期望在2017年时，可增至9000张。
冀渗透中欧印度中国
“为此，我们将在未来3年内，投入34亿令吉，增加位于土耳其、印度、中国、大马和新加坡医院的床位。”
除了增加床位，他也计划通过收购和自行投资的方式，拓展现有市场的业务。
“我们希望继续渗透中欧、印度和中国市场。我们不排除任何方法，可以是通过收购，买下已有资产和业务的公司，也可以自行设立新医院。我们不限制于任何一种方式。”
今年业绩前景乐观
针对今年业绩表现，陈诗龙仅回应指前景乐观。
“2013财年的营业额和净利，都获得双位数的增长，而这股涨势延续至本财年首季，虽然那是领域的淡季。”
截至3月杪首季，综合保健控股净利上扬24.96%，报1亿5905万2000令吉；营业额则上扬8.18%，达17亿5761万2000令吉。
派息2仙获准
“我不允许公布业绩预测，但就今年的拓展计划、市场需求、有实力的管理层和强稳的业务基础，我对公司的前景向来保持乐观。”
此外，他也同时宣布，股东通过了派发2仙股息的建议，派发期在7月。
“上市后，媒体和股东们都不断在询问何时派息。随着我们首次派发股息，各位可期盼日后我们将最少派出20%净利的股息。”
现金丰无惧高外币贷款
目前，综合保健控股的外币贷款高达3亿5000万美元（11.3亿令吉），然而，该公司总财务长陈时豪对此并不感到担忧。
“美元贷款主要是来自土耳其业务发展。
由于土耳其里拉贷款利息高，而且最近流通率较为紧张，所以我们选择美金。”
他解释，公司手上拥有充裕的现金，且业务盈利贡献稳定，因而不会感到担忧。
“我们手上有约9000万美元（约2.9亿令吉）现金，而且医疗旅游业务每年稳定贡献约8000万美元（约2.6亿令吉），所以没有什么好担心的。”

Source: NanYang

IHH dividend for Financial year 2013

IHH's earnings play catch-up

Source: The Edge Financial Daily

IHH bids for Australia healthcare firm?

SYDNEY: IHH Healthcare Bhd, Asia's largest hospital operator by market value, is considering making a A$5 billion (US$4.5 billion) offer for Australian healthcare firm Healthscope, a person familiar with the matter told Reuters on Tuesday.

 

The purchase would mark Malaysian-based IHH's first foray into Australia, where demand for healthcare services is growing rapidly due to an ageing population.

 

It would also offer a swift and lucrative exit for US buyout firms TPG and Carlyle Group Ltd which paid A$1.99 billion for Healthscope in 2010.

 

Healthscope executives and lead bankers Macquarie Group Ltd  and UBS AG recently met potential buyers in Asia, the person familiar with the matter said, adding that TPG and Carlyle had set a deadline for indicative bids in April.

 

TPG and Carlyle are also considering taking Healthcare public, said the person who declined to be identified due to the confidentiality of the process.

 

News of the potential IHH purchase was first reported by the Wall Street Journal.

 

When asked to comment, IHH said in a statement that it was "always looking at various value accretive opportunities to add to its portfolio". TPG and Carlyle declined to comment.

 

Earlier this year, Healthscope said it was considering several options for a sale process to cash in on strong demand for quality healthcare assets.

 

Stocks in Australian private health operators have surged so far this year, with Ramsay Health Care Ltd up almost 14 per cent and Sonic Healthcare Ltd gaining over seven per cent, compared to a one per cent gain in the broader index.

 

 IHH is 45 per cent owned by Malaysian sovereign fund Khazanah Nasional and joint-listed in Malaysia and Singapore. It operates hospitals across Asia and in Turkey, according to its website.

 

Earlier this year, TPG hired Ganen Sarvananthan, the former head of investments at Khazanah, as a partner and managing director in Asia.

 

Healthscope, which owns 44 private hospitals in Australia and pathology operations in Australia, Singapore, Malaysia and New Zealand, reported A$328 million in operating earnings before finance costs, income tax, depreciation and amortisation (EBITDA) for the year ending June 2013.-- Reuters

Read more: IHH bids for Australia healthcare firm? - Latest - New Straits Times http://www.nst.com.my/business/latest/ihh-bids-for-australia-healthcare-firm-1.507547#ixzz2vf5tA7pg

IHH Healthcare falls as investors lock in gains

KUALA LUMPUR: Shares of hospital operator IHH Healthcare Bhd fell to a low of RM3.73 on Monday as investors took profit despite reporting an improved fourth quarter net profit.

At 11.52am, IHH was down 10 sen to RM3.74 with 1.99 million shares traded.

The fall in the share price was also due to the weaker broader market, sparked by rising tensions in Ukraine and weaker Chinese economic data.

The FBM KLCI fell 13.60 points to 1,821.95. Turnover was 999.54 million shares valued at RM733.99mil. There were 177 gainers, 555 losers and 232 counters unchanged.

The biggest healthcare operator in Asia last week reported its fourth quarter net profit rose on-year by 47.03% to RM230.1mil while revenue rose 16.33% to RM1.78bil.

IHH is trading at a price-to-earnings of 48 times while it was trading at a forward 2014 valuation of 38 times, Bloomberg data showed.

Dealers said funds were taking the opportunity to sell into strength on the stock's historically high valuations which were at a huge premium compared with the benchmark FTSE Bursa Malaysia KL Composite Index's 17.2 times.

Public Invest Research, in its research note, said for FY13, revenue was within expectations at RM6.8bil (-3% on-year), accounting for 97% and 98% of its and consensus forecast respectively.

Net profit in FY13 fell 16% on-year to RM631mil (FY12: RM751mil), mainly due to higher staff costs, operating expenses and forex losses.

"Nonetheless, excluding exceptional items such as valuation gains and forex losses, FY13 net profit of RM649mil exceeded our expectations at 107% of full year forecast, albeit within consensus," it said.

However, Public Invest Research said it had an Underperform rating on IHH Healthcare and target price of RM3.52.

Source: http://www.thestar.com.my/Business/Business-News/2014/03/03/IHH-Healthcare-falls-as-investors-lock-in-gains/

IHH expansion on track

Source: The Edge Financial Daily

IHH dividend policy 'not less than 20%'

IHH Healthcare posts earnings of RM631.16m in FY13

KUALA LUMPUR: IHH Healthcare posted earnings of RM631.16mil in the financial year ended Dec 31, 2013 compared with RM750.79mil in FY12 when there were exceptional items.

It said on Thursday its revenue fell 2.9% to RM6.75bil from RM6.96bil. However, earnings before interest, tax, depreciation, amortisation, exchange differences & other non-operational items (EBITDA) increased 6% to RM1.66bil.

"Stripping out one-off effects of the sale of Novena medical suites in 2012, contribution from PLife REIT and exceptional items, the group's underlying operational performance saw strong growth, with revenue up 18% to RM6.75bil.

"EBITDA increased 32% to RM1.5bil and profit after tax and minority interests (PATAMI) rose a significant 70% to RM602.50mil," it said.

IHH Healthcare said the strong revenue and EBITDA performance were due to organic growth of existing operations and ramping up of new hospitals.

It explained that both Mount Elizabeth Novena Hospital and Acibadem Ankara Hospitalachieved positive EBITDA in 2013.

IHH Healthcare also consolidated full 12 months of Acibadem Holdings performance in 2013 compared with 11 months in 2012 when the group acquired Acibadem Holdings on Jan 24, 2012.

It added the group recovered about RM22mil in relation to prior year tax and investment tax allowances of RM22.9mil to offset the incremental depreciation and finance costs from three new hospitals in Singapore and Turkey upon completion of construction in 2012.

In the fourth quarter ended Dec 31, 2013, it posted net profit of RM230.10mil, up 47% from RM156.51mil a year ago. Its revenue rose 16.5% to RM1.78bil from RM1.527bil. Earnings per share were 2.83 sen compared with 1.94 sen.

IHH Healthcare also announced a dividend policy of no less than 20% of the group's PATAMI excluding exceptional items. It recommended a first and final single tier cash dividend of 2.0 sen for FY13.

Source: http://www.thestar.com.my/Business/Business-News/2014/02/27/IHH-Healthcare-posts-earnings-of-RM631m-in-FY13/

IHH Q4'13

Finally, IHH is going to declare 2 cents dividend for financial year 2013.  At the same time, IHH announced a dividend policy of no less than 20%.

IHH Q3'13

New managing director, CEO for IHH Healthcare

KUALA LUMPUR: IHH Healthcare’s executive director Dr Tan See Leng will be the new managing director and CEO with effect from Jan 1, 2014.

The healthcare group said on Monday Dr Tan, who has more than 25 years of experience in the healthcare industry, will succeed Dr Lim Cheok Peng under the group’s leadership succession.

As for Dr Lim, IHH said he would be designated as senior advisor to the board, continuing his more than 25 years of association with the group.

“Dr Lim is also expected to work as an advisor to IHH's major shareholder, Khazanah Nasional Bhd, in some of its wellness investments, whereby some area of interaction and synergies with IHH's businesses may be developed,” it said.

IHH said Dr Tan is currently group CEO and managing director of Parkway Pantai Ltd, the group's largest operating subsidiary.

It added Dr Tan would continue to serve as group CEO of Parkway Pantai Ltd. He had been involved in all major initiatives undertaken by the group since IHH was incorporated in May 2010.

Source: http://www.thestar.com.my/Business/Business-News/2013/10/14/New-managing-director-CEO-for-IHH-Healthcare.aspx

Invest Malaysia 2013 - Corporate Presentation Slides

AXIS Real Estate Investment Trust.pdf
AirAsia Berhad.pdf
Alliance Financial Group.pdf
Astro Malaysia Holdings Berhad.pdf
Ayala Land Inc.pdf
Bangkok Expressway PLC.pdf
Bank Central Asia.pdf
Bumitama Agri Ltd.pdf
Dialog Group Berhad.pdf
Digi Berhad.pdf
Felda Global Ventures Holdings Berhad.pdf
Glomac Berhad.pdf
Hartalega Berhad.pdf
IHH Healthcare Berhad.pdf
IOI Corporation.pdf
Jobstreet Corporation Berhad.pdf
Jollibee Foods Corporation.pdf
Kossan Rubber Industries Berhad.pdf
MISC Berhad.pdf
MMC Corporation Berhad.pdf
Mah Sing Group Berhad.pdf
Malayan Banking Berhad.pdf
Malaysia Airport Holdings Berhad.pdf
Malaysia Marine and Heavy Engineering Holdings Berhad.pdf
Maxis Berhad.pdf
Media Chinese International Ltd.pdf
OldTown Berhad.pdf
Perisai Petroleum Teknologi Berhad.pdf
Public Bank Berhad.pdf
SP Setia Berhad.pdf
SapuraKencana Petroleum Bhd.pdf
Sime Darby Berhad.pdf
Somboon Advance Technology.pdf
Starhill Global Real Estate Investment Trust.pdf
Sunway Berhad.pdf
Sunway Real Estate Investment Trust.pdf
TIME dotCom Bhd.pdf
Telekom Malaysia Berhad.pdf
Tenaga Nasional Berhad.pdf
Top Glove Berhad .pdf
Tropicana Corporation Berhad.pdf
UEM Land Holdings Berhad.pdf
UMW Holdings Berhad.pdf
UOA Development Berhad.pdf
WCT Berhad.pdf
YTL Corporation Bhd.pdf

Source: http://www.investmalaysiaconference.com/index.php

IHH has no plans to divest stake in Apollo for now

IHH to add 3,300 beds in 5 years, mulls re-entering Indonesia

KUALA LUMPUR: IHH Healthcare Bhd aims to grow its top line by "solid double digits" by end-Dec 31 as it plans to add 3,300 more beds in the next five and venture into new markets.

"We are considering a re-entry into markets such as Indonesia," managing director Dr Lim Cheok Peng said after the AGM on Tuesday.

Asia's largest hospital operator plans to grow existing capacity and penetrate new markets internationally.

IHH was also re-looking Indonesia, although its hospitals in Singapore currently see more patients from that country.

 

Source: http://biz.thestar.com.my/news/story.asp?file=/2013/6/25/business/20130625132033&sec=business

IHH confident of growth this year

IHH Healthcare Bhd, Asia's largest hospital operator, is optimistic on growth this year, bolstered by a strong pipeline of expansion and greenfield projects across multiple markets.

The company is currently undertaking four expansion and three greenfield projects in Malaysia, which are on track for completion and will commence operations from the second half of 2014 to mid-2015.

Managing director Dr Lim Cheok Peng said once fully operational, these projects would add 800 hospital beds to its current capacity of 2,052 beds.

He said group revenue in the first quarter ended March 31, 2013 increased to RM1.62 billion from RM1.26 billion in the previous corresponding period.

"If we can maintain that momentum, revenue will double this year, adding that last year group revenue soared 110 per cent to RM7 billion," he told reporters after the company's maiden annual general meeting today.

The four hospitals that are currently undertaking expansion are Gleneagles Medical Centre Penang, Pantai Hospital Kuala Lumpur, Pantai Hospital Klang and Gleneagles Kuala Lumpur, while the greenfield projects are Gleneagles Kota Kinabalu, Pantai Hospital Manjung and Gleangles Medini.

The company is also expanding in international markets, namely in Turkey, where it is undertaking expansion projects in two hospitals and two greenfield projects.

Lim said the group would also penetrate into the former British colony, Hong Kong, with a greenfield project which is scheduled for commencement in three years.

For the group's next phase of growth, it would be making a headway into China and India to capitalise on the huge population base there.

"We already have our foot in the door with Gleneagles Khubchandani in Mumbai and various clinics in the pipeline, and the next few years will see us looking for even more opportunities there," he added.-- Bernama

Read more: IHH confident of growth this yearhttp://www.btimes.com.my/Current_News/BTIMES/articles/20130625153825/Article/#ixzz2XEDktQ3m

IHH gets clinic licence in China

PETALING JAYA: IHH Healthcare Bhd's unit Parkway (Shanghai) Hospital Management Ltd has received a licence from the China authorities to establish a wholly owned enterprise reinvestment clinic named Suzhou Industrial Park Yuan Hui Clinic Co Ltd.

The licence was valid from May 29 till May 28, 2033 and the clinic had a registered capital of 3 million yuan (RM1.5mil), it told Bursa Malaysia.

 

Source: http://biz.thestar.com.my/news/story.asp?file=/2013/6/1/business/13186584&sec=business