Latest news with #RM866mil
The Star
11-08-2025
- Business
- The Star
Shah Alam warehouse projects expected to propel IJM earnings
PETALING JAYA: IJM Corp Bhd 's earnings momentum will continue to be underpinned by its outstanding order book as progress on its two ongoing warehouse-related jobs in Shah Alam remain 'quite commendable'. RHB Research said it took a look at the progress of IJM's two ongoing warehouse-related jobs in Shah Alam and was upbeat on the progress so far. 'The presence of Maersk's 2.1 million square-foot storage and office site in Section 26, Shah Alam, is a testament to the importance of the area in fulfilling logistics needs and this should help IJM secure new jobs within the area in the future,' the research house said in a report yesterday. The group's first job in Shah Alam, awarded in June 2023, is worth RM654mil and is for the design, execution and construction of phase one of the Shah Alam International Logistics Hub (SAILH), commissioned by Global Vision Logistics. Phase one of SAILH includes a four-storey warehouse complex, a four-storey multilevel parking facility and a single-storey office alongside ancillary buildings. The second warehouse-related job in Shah Alam is worth RM584mil, awarded in June 2024 by Strategic Sonata for the construction of Plot A of a logistics hub (Plot A hub) in Section 15. This project is situated across from GDB Holdings' RM866mil job for Plot B of the same logistics hub, also awarded by Strategic Sonata. RHB Research said progress has been quite commendable, especially for the Plot A hub. While the research house said it did not observe many 'high structures during our previous visit in March', progress had picked up in July, with many cranes being deployed, turning the area into the 'Valley of Cranes'. 'Based on our estimates, both projects – SAILH and Plot A Hub – are roughly 60% to 80% done, respectively, and should reach completion in the first half of 2026,' the research house said. RHB Research believes that any sizeable data centre job win in the near term would propel IJM above its current trading level (financial year 2026 forecast price-to-earnings ratio of 19.8 times), as it is currently the most undervalued among key peers. A key downside risk, however, is the failure to secure contracts in a timely manner. RHB Research has a 'buy' call on IJM Corp with a target price of RM3.73.
The Star
03-06-2025
- Health
- The Star
‘Top-tier, patient-centred care at an affordable price'
GEORGE TOWN: Travelling across the sea to Penang is more than just a medical journey for these Indonesian patients, it is a trip filled with comfort, care and hope. Over the past few years, one such patient, known only as VDJ, has been making regular visits to a cancer hospital, a decision she says has brought her not only affordable treatment but also peace of mind. 'The doctors are professional, the nurses are compassionate, and the treatment costs are much more reasonable compared to other countries. I feel safe and well cared for every time I come here,' said the 50-year-old businesswoman from Jakarta. Back in Indonesia, VDJ had access to similar treatments, but she felt compelled to seek a second opinion in Malaysia. Now, her medical visits are combined with holidays in Penang. Like VDJ, 59-year-old E. Purba has also made Penang her preferred destination for treatment, citing affordability and excellent service as key reasons for her continued treatment at the hospital over the past three years. 'The care here is good. My family and friends have also had positive experiences,' she said. Stories like theirs reflect a growing trend as more international patients look beyond their borders for healthcare, and many are finding what they need in Malaysia. Consultant clinical oncologist Dr Rakesh Raman noted that Malaysia's healthcare infrastructure is on par with that of the West. 'Many hospitals here offer top-tier care using the latest medical technology, which is comparable to what's available in the United States and other leading western countries. 'I always tell patients that they would receive the same quality of treatment in the US or Europe, but at a much higher cost there,' he said. Dr Rakesh said that Malaysia offers tremendous value to international patients, particularly from neighbouring countries like Indonesia, who often find that the quality of care exceeds what is available locally. Health Minister Datuk Seri Dr Dzulkefly Ahmad recently highlighted in a Facebook post about Malaysia's strong performance in medical tourism, noting that the country has outperformed competitors like Singapore, India and Turkiye. As of March this year, Malaysia had welcomed 1.52 million international healthcare travellers, surpassing pre-pandemic levels and generating significant revenue. According to the Malaysian Healthcare Travel Council, the central region of Kuala Lumpur and Selangor led as the country's medical tourism hub, attracting about 560,700 international patients and generating RM886mil in revenue from January to November last year. The northern region, including Penang, ranked second with 453,000 international patients and RM866mil in revenue during the same period. Johor and Melaka, in the southern region came third, drawing 180,180 patients and generating RM253mil in revenue. Chief Minister Chow Kon Yeow, when contacted, said Penang's appeal as a top healthcare destination lies in its internationally accredited hospitals, skilled medical professionals, and a patient experience that blends clinical excellence with Malaysia's renowned hospitality. To further strengthen its healthcare ecosystem, Chow said Penang is advancing the development of Batu Kawan MediCity, a 95.43ha healthcare and wellness hub with a projected gross development value of over RM10bil. He said the first phase, valued at RM2bil, will comprise specialist hospitals, diagnostic and rehabilitation centres, as well as integrated commercial and residential components. 'This landmark project is poised to attract world-class healthcare investments and elevate Penang's standing as a regional hub for high-value medical services, wellness tourism and healthcare innovation,' Chow said. 'We will continue working towards strengthening Penang's position as a trusted destination for quality, accessible and patient-centred care,' he added.
