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Health Services

IHH Healthcare Bhd.

Company Background

IHH Healthcare runs 37 private hospitals in 10 countries, including China and India. Its facilities have a total of more than 6,000 beds.

Headquartered in Malaysia, the company also sees Singapore and Turkey as its home markets. Its hospitals in these three countries attract affluent patients from across Southeast Asia and the Middle East. The group's Mount Elizabeth and Gleneagles hospitals in Singapore are considered particularly prestigious, thanks to their state-of-the-art medical equipment.

IHH is 44% owned by Khazanah Nasional, an investment arm of the Malaysian government. Khazanah in 2010 defeated a rival bid from India's Fortis Healthcare to take control of Parkway Holdings, a then-listed Singaporean company, which owned hospitals in Malaysia and Singapore. Today, Parkway is a wholly owned IHH subsidiary.

IHH is listed in both Malaysia and Singapore. The group is led by CEO Tan See Leng, who is also a doctor. Tan joined Parkway in 2004 and held various high-ranking positions before the company slid under IHH's umbrella.

Globally, IHH is the second-largest health care operator by market capitalization. Japanese trading house Mitsui & Co. is a major shareholder.

Business Summary

IHH Healthcare Bhd. operates as an investment holding company. The firm engages in the provision of healthcare services. It operates through the following geographical segments: Singapore, Malaysia, India, North Asia, Acibadem Holdings, IMU Health and PLife REIT. The company was founded on May 21, 2010 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2019 MYRUSD
Revenue14,912.48M3,599.45M
Gross Profit3,677.11M887.55M
Operating income1,685.73M406.88M
Income before tax968.61M233.79M
Net income463.30M111.82M
EBITDA3,041.22M734.06M
Diluted EPS0.050.01
Dividends Per Share0.040.00
Total Assets45,111.62M11,028.38M
Total liabilities19,175.82M4,687.89M
Total equity22,339.53M5,461.32M
Operating cash flow2,595.44M626.46M
Currency in MYRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 8,455.46M 10,021.88M 11,142.63M 11,520.93M 14,912.48M
Gross Profit 2,327.18M 2,657.91M 2,620.19M 2,884.52M 3,677.11M
Operating income 1,210.55M 1,227.74M 1,068.88M 1,203.24M 1,685.73M
Income before tax 1,203.25M 860.94M 1,162.33M 739.05M 968.61M
Net income 933.90M 612.35M 931.31M 541.84M 463.30M
EBITDA 1,900.05M 2,026.87M 2,046.96M 2,142.40M 3,041.22M
Diluted EPS 0.11 0.07 0.11 0.06 0.05
Dividends Per Share 0.03 0.03 0.03 0.03 0.04
Total Assets 35,517.48M 37,200.39M 38,925.48M 45,020.85M 45,111.62M
Total liabilities 11,280.78M 13,307.23M 15,183.41M 18,827.09M 19,175.82M
Total equity 22,155.73M 21,985.74M 21,890.16M 21,994.00M 22,339.53M
Operating cash flow 1,863.97M 1,730.45M 2,006.03M 1,562.71M 2,595.44M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,162.70M 2,419.15M 2,591.60M 2,854.98M 3,599.45M
Gross Profit 595.23M 641.58M 609.41M 714.80M 887.55M
Operating income 309.63M 296.36M 248.60M 298.17M 406.88M
Income before tax 307.76M 207.82M 270.34M 183.14M 233.79M
Net income 238.86M 147.81M 216.60M 134.27M 111.82M
EBITDA 485.98M 489.26M 476.09M 530.90M 734.06M
Diluted EPS 0.02 0.01 0.02 0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 8,272.38M 8,292.55M 9,618.35M 10,894.33M 11,028.38M
Total liabilities 2,627.40M 2,966.39M 3,751.77M 4,555.86M 4,687.89M
Total equity 5,160.29M 4,900.96M 5,408.98M 5,322.20M 5,461.32M
Operating cash flow 476.75M 417.70M 466.57M 387.25M 626.46M

Valuation Measures

Dec 2019
PER103.59
ROA1.02%
ROE2.09%
Operating margin11.30%
Profit margin3.10%

Key executives

  • CEO, MD & Non-Independent Executive Director: Chi-Keon Kelvin Loh
  • Group Chief Operating Officer: Sim Heng Joo Joe
  • Group Chief Financial Officer: Soon Teck Low
  • Group Head-Internal Audit: Audrey Huang
  • Vice President-Investor Relations: Penelope Koh

Shareholders

  • Mitsui & Co., Ltd. (32.9%)
  • Khazanah Nasional Bhd. (Investment Company) (26.0%)
  • Employees Provident Fund (9.4%)
  • Permodalan Nasional Bhd. (5.1%)
  • AYDINLAR MEHMET ALI (4.8%)
  • Kumpulan Wang Persaraan (3.0%)
  • Public Mutual Bhd. (1.7%)
  • Kuwait Investment Authority (Investment Management) (1.6%)
  • The Vanguard Group, Inc. (1.2%)
  • AYDINLAR FAMILY (1.1%)

Contact Details

Related Companies

  • Northern TK Venture Pte Ltd.
  • IHH Healthcare Bhd. (Singapore)
  • Centre For Digestive & Kidney Diseases India Pvt Ltd.
  • Acibadem Saglik Yatirimlari Holding AS
  • Indah Capital Ltd.
  • Shanghai Mai Kang Hospital Investment Management Co. Ltd.
  • Bodrum Tedavi Hizmetleri A.S
  • Integrated Healthcare Turkey Yatirimlari Ltd.
  • Gleneagles Development Pte Ltd.
  • Integrated Healthcare Holdings Ltd.
  • Acibadem Saglik Hizmetleri ve Ticaret AS
  • Pantai Holdings Sdn. Bhd.
  • Parkway Holdings Ltd.

Competitors

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