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The Sun
28-05-2025
- Business
- The Sun
IHH Healthcare in transformation and expansion mode
KUALA LUMPUR: IHH Healthcare Bhd will continue to strengthen its presence across the healthcare continuum in key markets such as Singapore and Hong Kong, expanding into the ambulatory care segment alongside its existing primary care clinics. On the inorganic growth front, the group is on the lookout for strategic acquisitions, including hospitals in Malaysia, India and Turkiye. Group CEO Dr Prem Kumar Nair said while underperforming assets in China represent only a small fraction of IHH's overall portfolio, they have recently shown signs of improvement. 'In fact, the group remains optimistic about its prospects in China and is set to invest in a major ambulatory care centre in Shanghai,' he told reporters after the company's annual general meeting today. Dr Prem said what is particularly significant at this stage is the recognition that IHH must undergo – a comprehensive transformation to achieve many of its strategic goals. 'As a well-established organisation, some of our hospitals have been serving communities for decades – Punggol East in Singapore, Gleneagles with a 65-year legacy, Mount Elizabeth approaching 50 years, as well as Gleneagles Penang and Pantai Hospital Kuala Lumpur, both with over half a century of service. 'Given this legacy, we are now shifting our focus towards key transformation areas. 'One of the most important is the introduction of a new care model, which we have already begun implementing in markets like Singapore and Hong Kong. We are also actively encouraging other countries within our network to adopt this forward-looking approach to healthcare delivery,' Dr Prem said. The group's revenue in FY24 increased 16% to RM24.4 billion, and earnings before interest, taxes, depreciation and amortisation) stood at RM5.4 billion, a 17% growth from FY23. Profit after tax and minority Interest (Patmi) declined 10% to RM2.7 billion, mainly due to the one-off gain from the disposal of the International Medical University in 2023. Excluding extraordinary items, Patmi grew 32% from a year ago to RM1.7 billion. Return-on-equity (ROE) growth remains a key focus, and on the back of the strong financial performance, IHH declared a total of 10 sen per share in ordinary dividends in FY24, an increase from 9 sen per share in FY23. 'Many have asked whether factors like tariffs and geopolitical uncertainty – including developments in Turkiye and the US presidency of Donald Trump – have had an impact on us. 'Despite these external challenges, we have demonstrated strong resilience, delivering double-digit revenue and profit growth and achieving an ROE of 9%, edging closer to our target of double-digit ROE,' Dr Prem said. He said IHH's success is defined by meeting or exceeding a comprehensive set of indicators for each value-driven care procedure. Currently, the group is tracking eight high-volume procedures under this framework – including total knee replacement, colonoscopy, and breast cancer – monitoring over 360 indicators every month. These procedures account for about 20% of all inpatient admissions across the network, representing a significant portion of patient care and clinical activity. 'By next year, we plan to expand this programme to include two additional procedures, such as Caesarean sections, allowing more patients to benefit from outcome-driven care. 'To achieve and elevate the level of quality we aim for, we are making strategic investments in cutting-edge medical equipment and improved infrastructure,' Dr Prem said. As a group, he pointed out, IHH reinvests its profits into clinical research, quality improvement programmes and innovations aimed at enhancing patient outcomes. The company has embraced technology-driven care, such as ProtonBeam therapy for cancer treatment, and is creating seamless digital experiences to elevate service quality, including through the MyHealth360 app, which gives patients direct access to their healthcare. Equally important, Dr Prem said, IHH is committed to empowering both patients and staff by investing in continuous learning, development and modern work tools to enable its people to deliver exceptional care and perform at their best.
The Sun
28-05-2025
- Business
- The Sun
IHH Healhcare in transformation and expansion mode
KUALA LUMPUR: IHH Healthcare Bhd will continue to strengthen its presence across the healthcare continuum in key markets such as Singapore and Hong Kong, expanding into the ambulatory care segment alongside its existing primary care clinics. On the inorganic growth front, the group is on the lookout for strategic acquisitions, including hospitals in Malaysia, India and Turkiye. Group CEO Dr Prem Kumar Nair said while underperforming assets in China represent only a small fraction of IHH's overall portfolio, they have recently shown signs of improvement. 'In fact, the group remains optimistic about its prospects in China and is set to invest in a major ambulatory care centre in Shanghai,' he told reporters after the company's annual general meeting yesterday. Prem said what is particularly significant at this stage is the recognition that IHH must undergo – a comprehensive transformation to achieve many of its strategic goals. 'As a well-established organisation, some of our hospitals have been serving communities for decades – Punggol East in Singapore, Gleneagles with a 65-year legacy, Mount Elizabeth approaching 50 years, as well as Gleneagles Penang and Pantai Hospital Kuala Lumpur, both with over half a century of service. 'Given this legacy, we are now shifting our focus towards key transformation areas. 'One of the most important is the introduction of a new care model, which we have already begun implementing in markets like Singapore and Hong Kong. We are also actively encouraging other countries within our network to adopt this forward-looking approach to healthcare delivery,' Prem said. The group's revenue in FY24 increased 16% to RM24.4 billion, and earnings before interest, taxes, depreciation and amortisation) stood at RM5.4 billion, a 17% growth from FY23. Profit after tax and minority Interest (Patmi) declined 10% to RM2.7 billion, mainly due to the one-off gain from the disposal of the International Medical University in 2023. Excluding extraordinary items, Patmi grew 32% from a year ago to RM1.7 billion. Return-on-equity (ROE) growth remains a key focus, and on the back of the strong financial performance, IHH declared a total of 10 sen per share in ordinary dividends in FY24, an increase from 9 sen per share in FY23. 'Many have asked whether factors like tariffs and geopolitical uncertainty – including developments in Turkiye and the US presidency of Donald Trump – have had an impact on us. 'Despite these external challenges, we have demonstrated strong resilience, delivering double-digit revenue and profit growth and achieving an ROE of 9%, edging closer to our target of double-digit ROE,' Prem said. He said IHH's success is defined by meeting or exceeding a comprehensive set of indicators for each value-driven care procedure. Currently, the group is tracking eight high-volume procedures under this framework – including total knee replacement, colonoscopy, and breast cancer – monitoring over 360 indicators every month. These procedures account for about 20% of all inpatient admissions across the network, representing a significant portion of patient care and clinical activity. 'By next year, we plan to expand this programme to include two additional procedures, such as Caesarean sections, allowing more patients to benefit from outcome-driven care. 'To achieve and elevate the level of quality we aim for, we are making strategic investments in cutting-edge medical equipment and improved infrastructure,' Prem said. As a group, he pointed out, IHH reinvests its profits into clinical research, quality improvement programmes and innovations aimed at enhancing patient outcomes. The company has embraced technology-driven care, such as ProtonBeam therapy for cancer treatment, and is creating seamless digital experiences to elevate service quality, including through the MyHealth360 app, which gives patients direct access to their healthcare. Equally important, Prem said, IHH is committed to empowering both patients and staff by investing in continuous learning, development and modern work tools to enable its people to deliver exceptional care and perform at their best.
Daily Express
23-05-2025
- Business
- Daily Express
EXIM Bank backs Mac World's gulf expansion
Published on: Friday, May 23, 2025 Published on: Fri, May 23, 2025 By: Bernama Text Size: Kuala Lumpur: The Export-Import Bank of Malaysia Bhd (EXIM Bank) has inked a financing agreement with Mac World Food Industries LLC, a subsidiary of Mac World Group, to support its expansion into the Gulf Cooperation Council (GCC) market. The deal was signed during the Islamic Development Bank (IsDB) Annual Meeting in Algiers, Algeria, on May 21, 2025, and witnessed by the Malaysian Ambassador to Algeria, Rizany Irwan Muhamad Mazlan. Under the deal, EXIM Bank will provide shariah-compliant financing to support the construction and operation of Mac World's state-of-the-art packaging facility in Dubai Industrial City. The 9,287-square-metre site will strengthen Mac World's capabilities as a regional leader in edible cooking oils, driving growth across the United Arab Emirates and GCC markets. 'Building on its impressive RM1.7 billion sales in 2024, this strategic investment positions Mac World for sustained growth and market leadership. 'By sourcing raw materials from Malaysia, Mac World strengthens Malaysian upstream supply chains while scaling its downstream processing capabilities in the Middle East, strengthening Malaysia's footprint in the global halal economy,' the bank said in a statement on Thursday. Advertisement In 2024, EXIM Bank has a market exposure of RM248.5 million in the Middle East, and this agreement further strengthens its foothold in the region, reinforcing Malaysia's global influence in the thriving halal industry. EXIM Bank president and chief executive officer Nurbayu Kasim Chang said the bank is ready to fuel the momentum in strengthening Malaysia's presence in high-growth markets like the Gulf region. 'Our tailored, shariah-compliant solution propels their regional expansion while reinforcing Malaysia's leadership in Islamic finance and the halal economy,' she said. Mac World Group chairman and managing director Abraham Thomas said the company's mission to bring premium Malaysian halal food products to the world is now active in over 80 countries through their trusted brands. 'This new facility in the UAE will play a pivotal role in serving the growing demand in the GCC region and is projected to contribute over US$100 million in annual revenue,' he said. In 2024, Malaysia's halal industry generated RM62 billion, projected to grow to RM500 billion by 2030, contributing 11 per cent to gross domestic product and creating 700,000 job opportunities, reinforcing Malaysia's role as a powerhouse in the global halal economy. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Barnama
22-05-2025
- Business
- Barnama
EXIM Bank Malaysia Supports Mac World Industries' Expansion Into The Gulf Region With Strategic Financing
ALGERIA, May 22 (Bernama) -- The Export-Import Bank of Malaysia Berhad (EXIM Bank) today formalised a financing deal with Mac World Food Industries L.L.C (Mac World), a subsidiary of Mac World Group, to fuel its expansion into the Gulf Cooperation Council (GCC) market. Signed at the Islamic Development Bank (IsDB) Annual Meeting in Algiers and witnessed by Malaysian Ambassador HE Rizany Irwan, the agreement highlights Malaysia's drive to propel its halal industry globally. This is a part of Halal Development Corporation (HDC) and EXIM Bank's initiative to link Malaysian businesses with international halal market opportunities. EXIM Bank is supporting Mac World's ambitious expansion with Shariah-compliant financing, to support the construction and operational needs of its cutting-edge packaging facility in Dubai Industrial City. The 9,287-square-metre site will strengthen Mac World's capabilities as a regional leader in edible cooking oils, driving growth across the UAE and GCC markets. Building on its impressive RM1.7 billion sales in 2024, this strategic investment positions Mac World for sustained growth and market leadership.
The Sun
20-05-2025
- Business
- The Sun
Airaz Technologies ordered to pay Siti Khadijah apparel RM1.7 million for infringing rid of Telekung Harmoni design
KUALA LUMPUR: The High Court here has ordered Airaz Technologies Sdn Bhd (Airaz) to pay RM1.7 million in damages to Siti Khadijah Apparel Sdn Bhd for copying and infringing the latter's registered Telekung Harmoni design. Judge Adlin Abdul Majid issued the order during an online damages assessment proceeding last March 6. Lawyer Ahmad Hafiz Zubir, representing Siti Khadijah Apparel and its director, Padzilah Enda, said the court ordered Airaz Technologies to pay RM1,216,015.20 in profits from the sale of the Telekung Suqainah products, which infringed the Telekung Harmoni design. 'The court also ordered Airaz Technologies to pay RM500,000 in compensatory and exemplary damages and RM5,000 in costs to Siti Khadijah Apparel,' the lawyer said when contacted today. On February 8 last year, Judge Azlan Sulaiman allowed a countersuit by Siti Khadijah Apparel and Padzilah after finding that Telekung Suqainah, owned by Airaz Technologies, imitated and infringed the industrial design of Telekung Harmoni. Judge Azlan also dismissed the suit filed by Airaz Technologies against Siti Khadijah Apparel and Padzilah seeking to revoke the registration of Siti Khadijah's Harmony telekung industrial designs. Airaz Technologies filed the suit on June 2, 2022, seeking to revoke the registered industrial designs of Siti Khadijah's Harmony telekung and for it to be removed from the Industrial Design Registration Record. On December 14, 2022, Siti Khadijah Apparel and Padzilah filed a countersuit claiming that there was a significant similarity in the design and pattern on the head and chin of Telekung Suqainah to Siti Khadijah's Harmoni telekung. Siti Khadijah Apparel claimed that the actions by Airaz Technologies in selling, advertising and distributing the Telekung Suqainah violated its industrial design rights and applied for a declaration order that Airaz Technologies violated the industrial design of its telekung design under Section 32 of the Industrial Design Act 1996.
