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THURSDAY | MAY 29, 2025

IHH Healthcare in expansion and transformation mode o Group to strengthen position across key markets and enter ambulatory care segment, and is on lookout for strategic acquisitions Ű BY JOHN GILBERT sunbiz@thesundaily.com

Petronas invested RM25 billion in Sarawak last year: Awang Tengah KUCHING: Petroliam Nasional Bhd (Petronas) invested RM25 billion in Sarawak last year, said Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan. Awang Tengah, who is also the Sarawak Minister for International Trade, Industry and Investment said these investments include nine first hydrocarbon discoveries and two major production mile stones – the Kasawari field at Block SK316 and the Jerun field at Block SK408. “Ongoing offshore development and exploration projects are in progress to ensure future energy security. “Petronas is intensifying frontier exploration through data enrich ment and strategic partnerships for seismic processing, reinforcing Sarawak’s role in Malaysia’s energy sector, supporting long-term energy security and economic growth,” he said during his minis try’s winding-up session at the State Legislative Assembly sitting here yesterday. Meanwhile, Awang Tengah said Sarawak recognises natural gas as a vital transition fuel in the global journey towards net-zero emissions and the state is committed to its responsible development. He added that the Sarawak Gas Road-map leverages Sarawak’s abundant natural gas resources, which constitute more than 60% of Malaysia’s reserves, to drive industrialisation, improve energy security and attract sustainable investment. “As part of this initiative, a RM100 million city gas trunkline in Bintulu will expand clean and affordable energy access for homes and businesses. The project is going to be implemented soon. “Meanwhile, the RM1 billion Samalaju Pipeline will transport 300 million standard cubic feet per day of gas from Bintulu to Samalaju Industrial Park. The installation of this gas pipeline is expected to be completed by the end of 2025,” he said. – Bernama

KUALA LUMPUR: IHH Healthcare Bhd will continue to strengthen its presence across the healthcare continuum in key markets such as Singapore and Hong Kong, ex panding 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. 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,

Dr Prem (left) with IHH Healthcare chairman Tan Sri Dr Nik Norzrul Thani N Hassan Thani at a press conference after the company’s annual general meeting yesterday.

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 develop ments in Turkiye and the US presidency of Donald Trump – have had an impact on us. “Despite these external chal lenges, 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 compre hensive 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, colono scopy, 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 pro grammes 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, develop ment and modern work tools to enable its people to deliver ex ceptional care and perform at their best.

Miti studying proposal to merge HDC and Matrade, says Tengku Zafrul KUALA LUMPUR: The Ministry of Investment, Trade and Industry (Miti) is studying the merger of Halal Development Corporation (HDC) and the Malaysia External Trade Develop ment Corporation (Matrade). “We want to strengthen the halal industry by focusing on halal development and do not want any overlap in terms of halal trade. Investment Development Authority would focus on investments in volving the halal industry. Miti announced recently that consolidation of functions and jobs is equitably managed. attention soon. He said the objectives to establish the commission will be announced after obtaining approval from the Cabinet meeting.

“The merger aims to enhance Malaysia’s leadership and competi tiveness in the global halal market, which is projected to reach US$5 trillion (RM21.25 trillion) by 2030,” Miti said in a statement. Meanwhile, Tengku Zafrul said the Malaysian Halal Council secret ariat has proposed the establish ment of a Halal Commission, which will be brought to the Cabinet’s

“We want Matrade to focus more on halal trade in terms of providing access to halal products, while we want to ensure that HDC focuses more on halal development,” he told reporters after the Asean-GCC Economic Forum 2025 here yes terday. Tengku Zafrul said the Malaysian

Matrade and HDC would be merging to form a stronger and more cohesive halal trade and industry ecosystem. The ministry said a pro-tem committee for the strategic merger has been established to align resources and operational frame works while ensuring that the

“At the moment, it is still in ‘circulation’ and we are gathering comments and feedback from other ministries. “Once approved, we will be able to provide clarity regarding the establishment of this commission,” he said. – Bernama

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz said the matter is under discussion because there were several other proposals put forward such as strengthening the country’s halal industry.