【IHH Q0F 交流专区】综合保健控股 IHH HEALTHCARE BERHAD

天然夜行者

進了sti後，股價暴升，看來值得長期持有
可惜上市時間太短，難分析

icy97

IHH Healthcare sets up Shanghai investment holding company
http://www.theedgesingapore.com/the-daily-edge/business/40132-ihh-healthcare-sets-up-shanghai-investment-holding-company.html

Tue, 25 Sep 21:05
IHH Healthcare Bhd. said indirect wholly-owned subsidiary, Shanghai Shu Kang Hospital Investment Management Co., has established a 100%-owned special purpose investment holding company called Shanghai Mai Kang Hospital Investment Management Co. in China. Shanghai Mai Kang will have an initial registered capital of RMB41.32 million ($8 million).

icy97

IHH flat; Start-up costs could hurt margins: Nomura
http://www.theedgesingapore.com/the-daily-edge/business/42528-ihh-flat-start-up-costs-could-hurt-margins-nomura.html

Wed, 30 Jan 12:05
IHH (Q0F.SG) is flat at $1.33, despite a generally buoyant market, after dropping 3.3% on Tuesday, with three analysts saying they weren't aware of a reason for the decline.

IHH's expansion plans are on track, but start-up costs should exert pressure on margins, creating a drag on FY13 EPS growth, Nomura says in a note after a company visit.

"Management conceded that its expansion in Turkey and Singapore will continue to drag margins but core operations remain strong as volumes and average selling prices are progressing well."

The house views IHH's valuations as expensive relative to its growth prospects, and notes its EPS forecasts and target price are below consensus;

"We see risks to consensus earnings, particularly arising from greater-than-expected losses at Mount Elizabeth Novena." It expects Mount Elizabeth Novena break-even at the operating level in 2015, while a slower economy could affect patient admissions, with potential further drag from competition from the Farrer Park Hospital completion this year.

It keeps a Reduce call with MYR2.81 ($1.13) target on the Malaysian-listed share (5225.KU). Its Malaysian share is up 0.9% at MYR3.24.

icy97

IHH Healthcare net jumps almost fourfold after Turkey expansion
http://www.theedgesingapore.com/the-daily-edge/business/42918-ihh-healthcare-net-jumps-almost-fourfold-after-turkey-expansion.html

Wed, 27 Feb 08:19  
IHH Healthcare Bhd., Asia’s biggest hospitals operator, said fourth-quarter profit rose almost fourfold, boosted by first-time contributions from Turkey and one-time gains.

Net income surged to 195.9 million ringgit ($78 million), or 2.43 sen per share, in the three months ended December 31, from 52 million ringgit, or 0.95 sen per share, a year earlier, according to a stock exchange filing in Kuala Lumpur yesterday. Revenue advanced 79% to 1.52 billion ringgit.

IHH, controlled by Khazanah Nasional Bhd. and Mitsui & Co., raised about US$2 billion through an initial public offering last year in Kuala Lumpur and Singapore. It operates hospitals under brands including Gleneagles and Mount Elizabeth in Asia and last year expanded into Europe by acquiring Acibadem Saglik Hizmetleri & Ticaret AS, Turkey’s largest hospital group.

“We see opportunities in the region for the year ahead and will continue to build on our past year’s performance and are looking for new opportunities in countries like Vietnam, Turkey and Abu Dhabi,” IHH Chairman Abu Bakar Suleiman told reporters in Kuala Lumpur yesterday.

IHH, the world’s second-biggest health-care provider by market value, has risen 22% from its 2.80 ringgit offer price in July, closing unchanged at 3.41 ringgit in Kuala Lumpur yesterday ahead of the earnings announcement.

It’s rated the equivalent of buy by nine out of 23 analysts whose ratings are compiled by Bloomberg. Five recommended selling the stock.

Quarterly earnings were boosted by exceptional items including a 31.6 million-ringgit valuation gain on its investment properties and a 41.7 million ringgit write-back on an earlier impairment loss, the filing showed.

icy97

IHH Healthcare to jointly built hospital in Hongkong for $805mil
http://www.theedgesingapore.com/the-daily-edge/business/43117-ihh-healthcare-to-jointly-built-hospital-in-hongkong-for-805mil.html

Wed, 13 Mar 21:47
IHH Healthcare Bhd says GHK successfully won the public tender for the acquisition of a site in Hong Kong to build, develop and operate of a private hospital.

The project will involve a capital investment of HK$5 billion ($805 million) which is inclusive of land cost amounting to HK$1.7 billion.

GHK is a 60%-owned subsidiary of Parkway HK Holdings while Media Year Investments owns the remaining 40%. Parkway HK is a wholly-owned indirect subsidiary of IHH.

The site is located at Aberdeen Inland Lot No. 458, Nam Fung Path, Wong Chuk Hang, Hong Kong, with a total site area and maximum gross floor area of 27,500 square metres and 46,750 square metres respectively.



The hospital is expected to be fully operation by late 2016. The hospital will provide a full range of clinical service with more than 15 specialties, including general medicine, general surgery, orthopaedics, and gynaecology, and others, with a total bed capacity of 500 beds.



The Li Ka Shing Faculty of Medicine of The University of Hong Kong will act as the clinical partner of the Hospital and oversee its clinical governance, professional standards, appointment of doctors and the training of doctors, nurses and allied healthcare staff.



IHH Healthcare said the project will be funded by internally generated funds and bank borrowings.

icy97

综合保健控股在香港购地建医院
http://www.sharesinv.com/zh/articles/37811/

2013年03月14日
综合保健控股(IHH Healthcare)的子公司GHK Hospital Ltd完成以16亿9,000万港元收购香港一幅地皮，以建设及经营一家新的私人医院。GHK是由公司旗下的百汇香港控股持有60%股权及Media Year Investments持有40%股权；后者是香港上市公司新创建集团(NWS Holdings)的全资子公司。新医院的总资本为50亿港元，包括收购地皮的成本。该地皮的面积为2万7,500平方米，最大总楼面面积为4万6,750万平方米。新医院将与香港大学李嘉诚医学院合作监督临床管理、专业标准及委任和培训医疗人员等事项。新医院定于2016年末竣工及开业，并将拥有500个床位。

启示：展望未来，医院在开业后，料将从2016年起为公司带来盈利。香港是经济发达及人口老龄化的一个地区。

天然夜行者

被踢出STI了

franklyss

天然夜行者 发表于 19-3-2013 11:40 AM
被踢出STI了

你哪里拿这个”被踢出STI“的消息， 可以分享

天然夜行者

franklyss 发表于 19-3-2013 02:12 PM
你哪里拿这个”被踢出STI“的消息， 可以分享

被thaibev取代了，注意新闻吧

franklyss

天然夜行者 发表于 19-3-2013 02:21 PM
被thaibev取代了，注意新闻吧

哪一个网站，分享一下

天然夜行者

franklyss 发表于 19-3-2013 10:39 PM
哪一个网站，分享一下

http://www.straitstimes.com/brea ... index-march-18-2013
http://en.wikipedia.org/wiki/Straits_Times_Index

icy97

Name of Announcer *	IHH HEALTHCARE BERHAD
Company Registration No.	901914-V
Announcement submitted on behalf of	IHH HEALTHCARE BERHAD
Announcement is submitted with respect to *	IHH HEALTHCARE BERHAD
Announcement is submitted by *	MICHELE KYTHE LIM BENG SZE
Designation *	COMPANY SECRETARY
Date & Time of Broadcast	16-Aug-2013 19:13:27
Announcement No.	00135

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

Announcement Title *

ACQUISITION OF 60% EQUITY INTEREST IN HUI XING HOSPITAL INVESTMENT MANAGEMENT CO. LTD BY SHANGHAI MAI KANG HOSPITAL INVESTMENT MANAGEMENT CO., LTD, AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF IHH HEALTHCARE BERHAD

Description

The attached announcement was made on Bursa Malaysia Securities Berhad on 16 August 2013. The initial public offering of IHH Healthcare Berhad was sponsored by CIMB Bank Berhad, Singapore Branch and DBS Bank Ltd. (the Singapore Issue Managers). The Singapore Issue Managers assume no responsibility for the contents of this announcement.

Attachments

IHH_Announcement_Acquisition_of_Hui_Xing_Hospital_Investment_Management_Co_Ltd_16082013.pdf

icy97

IHH said to consider $5.7 bil bid for Australia's healthscope
Source: Bloomberg   |   Publish date: Tue, 11 Mar 14:24
http://www.theedgesingapore.com/the-daily-edge/business/47555-ihh-said-to-consider-57-bil-bid-for-australias-healthscope.html

IHH Healthcare, Asia’s biggest hospital operator, is weighing a bid of as much as A$5 billion ($5.7 billion) for Healthscope, the Australian health-care provider owned by TPG Capital and Carlyle Group LP, said two people familiar with the matter.

TPG and Carlyle have put plans for an initial share sale of Australia’s second-largest private hospital operator on hold and will start taking bids for the company in April, one of the people said. Healthscope’s operating company without its hospital properties could be valued at A$4 billion, the people said, asking not to be identified as the process is private.

IHH, 44% owned by Malaysia’s sovereign wealth fund Khazanah Nasional, has been expanding through acquisitions to benefit from rising demand for medical services in Asia and Europe. It bought Singapore’s Parkway Holdings Ltd. in 2010 and completed the purchase of a 60% stake in Acibadem Saglik Hizmetleri & Ticaret AS, Turkey’s largest hospital group, in 2012, according to data compiled by Bloomberg.

“It’s good for IHH to put a foot in the Australian market,” James Lau, who helps manage US$300 million ($380 million) as director of portfolio investment at Pheim Asset Management Sdn. in Kuala Lumpur, said by phone. “The synergy is there, but the challenge is to extract value from the deal without stumbling.”

A US$4.5 billion acquisition would be the biggest by a Malaysian company since December 2012, data compiled by Bloomberg show.

IHH is always looking at “value-accretive opportunities” to add to its holdings, it said in an e-mailed response to questions. The Kuala Lumpur-based company declined to comment on specific transactions.

Spokeswomen for Carlyle and TPG declined to comment. The Wall Street Journal first reported the talks yesterday, citing people familiar with the matter.

IHH runs 33 hospitals as well as medical centers, clinics and other health-care businesses across nine countries including Vietnam, India and China, its website shows. The company’s shares have rallied 38% since its July 2012 initial public offering in Kuala Lumpur.

Healthscope operates 44 hospitals including the Prince of Wales Private Hospital in Sydney and Melbourne Private Hospital, according to its website. It also runs pathology centers in Australia, New Zealand, Malaysia and Singapore.

The two U.S. private equity firms bought Healthscope for A$2.7 billion in 2010, beating KKR & Co. to what was then was Australia’s biggest buyout in eight years. Ramsay Health Care Ltd. is the country’s largest private hospital operator.

icy97

综合保健控股：在医疗旅游领域大展拳脚
大马交易所 | 2014年05月05日
文 : Brian Brinker
http://www.sharesinv.com/zh/articles/46627/

综合保健控股(IHH Healthcare)为全球其中一家大型医疗业者，公司旗下的医疗机构遍布欧洲、亚洲和中东。虽然它目前面对一些短期挑战，但医疗旅游领域的长期增长应能令公司更上一层楼。

马来西亚是世界主要的医疗旅游中心之一，其国内有许多知名医疗机构，如IHH的医院。IHH的客户多为医疗旅客以及国内的富人。

IHH的总部设在马来西亚，它在国内经营多间医疗机构。马来西亚政府也大力推动医疗旅游领域的发展，所采取的措施包括进行推广活动、提供优惠和制定有利的条例。马来西亚的医疗旅游业估计在2013年至2017年间将以12.8%的年复合增长率(CAGR)增长。

前来马来西亚的医疗旅客来自许多国家，排在前十位的为印尼、印度、日本、中国、英国、美国、利比亚、孟加拉、澳洲和尼泊尔。

除了马来西亚之外，IHH也通过收购的方式在新加坡和土耳其经营医院。公司的其他主要市场包括中国、香港和印度。它在越南、汶莱、阿联酋和马其顿也有业务。

医疗旅游业目前是一个相当蓬勃的市场，其在2012年的市场规模为105亿美元。到了2019年，医疗旅游业的市场规模估计将达到325亿美元，其在2013年至2019年间的CAGR将达到17.9%。马来西亚、土耳其和新加坡都为发展较迅速的市场。

IHH的医疗机构都设在新兴和中等收入国家，这些市场的增长潜力可令公司受惠。另外，一些国家高昂的医疗费用(如美国)和漫长的候诊时间(如加拿大)，可能会使来自富裕国家的医疗旅客增加。

综上所述，IHH的前景看来相当不错。

公司简介

IHH于2012年同时在大马交易所(Bursa Malaysia)和新加坡交易所(Singapore Exchange)挂牌上市，以市值计算，公司是全球第二大医疗业者，它一共在九个国家营运，其33间医院共有5,000个床位。公司接下来将增添多3,700个床位。

公司的三大市场为马来西亚、新加坡和土耳其，它认为这三个国家为医疗旅游业的重要据点，能够吸引到周边国家的医疗旅客。负责公司新加坡业务的百汇班底(Parkway Pantai)在2012年接待了约5万5,251名病人。其马来西亚和土耳其业务(后者由Acibadem控股负责经营)在同一年接待的病人分别为15万8,990人和11万2,394人。

财务表现

公司的FY13收入从FY12的70亿令吉略微下跌至68亿令吉。公司的税前盈利跌幅较大，其FY13税前盈利从FY12的11亿令吉下跌至8亿8,160万令吉。

但在计入脱售诺维娜医疗套房的收益和一些特别项目后，公司的FY13核心营收实际上提高18%至67亿令吉。其息前税前折旧与摊销前盈利(EBITDA)增加32%至15亿令吉，税后盈利增加70%至6亿零250万令吉。

公司的4Q13净利年比增加了47%至2亿3,010万令吉，因第四季收入提高16.5%至18亿令吉。

近期发展

• 公司不久前取消了以46亿美元(148亿令吉)收购澳洲医疗业者Healthscope的计划，因为Healthscope选择公开售股亿筹集40亿澳元
• 公司公布了新的派息政策，其派息比率将不会低于税及少数股东权益后盈利(PATMI)的20%
• 公司在香港建造的医院在不久前动工，这座医院将设有500个床位
• 马来西亚政府为医疗领域拨出221亿令吉作为营运和发展开支，这些款项将用来设立更多医疗机构，公司将能因此而受惠。医疗费用提高也能惠及公司
• 分析师评级和利好因素
  

大马证券研究给予公司“持守”评级，目标价为3.60令吉。肯纳格研究(Kenanga)也给予公司“持守”评级，但其目标价为3.86令吉。

丰隆投资银行研究维持其“持守”评级，目标价为3.72令吉。丰隆表示，虽然公司无法成功收购Healthscope，但它可参与Healthscope的IPO计划或成为基础投资者，以进军澳洲这个成熟市场。

大部分研究机构都指出，尽管公司持续在马来西亚和土耳其扩充业务，其主要市场的人口逐渐老化及医疗需求提高都对它有利，但其股票目前的估值偏高。马来亚投资银行研究预计公司的毛利率将在2014年持续提高，因为其在新加坡(诺维娜)和土耳其(安卡拉和博德鲁姆)的新医院将投入运作。马来亚投资银行研究给予公司“持守”评级，目标价为3.80令吉(以1.5倍的本益比增长计算)。

icy97

综合保健控股的前景佳，但估值略微昂贵
Tradeable | 2014年06月04日
文 : 林思杰
http://www.sharesinv.com/zh/articles/47351/

• 1Q14收入和盈利都取得不错增长
• 公司必须解决受外汇波动影响的问题
• 基于全球人口逐渐老化，公司的前景向好
  

第一季收入和盈利都增长

综合保健控股(IHH Healthcare Berhad)截至2014年3月31日的首季收入从去年同期的16亿令吉增加8%至18亿令吉。其息前税前折旧与摊销前盈利(EBITDA)从3亿9,420万令吉增加11%至4亿3,650万令吉，税及少数股东权益后盈利(PATMI)则从1亿2,730万令吉则从1亿2,730万令吉提高25%至1亿5,910万令吉。

公司的收入提高是因为住院病人增加、业务的单位收入提高以及Acibadem Atakent医院在2014年1月开业。

EBITDA提高是因为既有业务取得增长，以及多家在FY12开业的医院带来盈利，如伊丽莎白山诺维娜医院、Acibadem Ankara和Acibadem Bodrum。

受外汇波动影响

综合保健控股在9个国家(包括越南、印度和中国)经营33家医院、医疗中心、诊所和其他医疗机构。

由于公司的业务遍布多个国家，包括亚洲、中欧与东欧、中东和北非地区，因此它会受到外汇波动的影响，要比较其不同季度的表现也变得比较困难。

公司采取了一些措施来减低外汇风险，包括以所在国家的货币借贷，或者借贷当地货币作为海外投资。公司通过Acibadem控股来控制其资金，利用从医疗旅客取得的现金来偿还债务和支付贷款利息。

前景

公司的优点之一是财务状况良好，现金流多，能够执行其扩充计划。公司预计在2014年将继续取得盈利增长。目前，全球都面对人口老化问题。上了年纪就容易有病痛，这是很自然的事。随着人口逐渐老化，需要医疗服务的人也会随之增加。

医疗服务的需求将大幅增加，这是一个不争的事实。问题就在于，供应是否能赶得上需求，笔者认为市场目前是出于供不应求的状况。所以，综合保健控股应能继续取得增长，其盈利将随之增加。

股价动向分析


公司的股价目前正迈向其2013年以来的1.65元主要阻力位。这只股曾在2013年多次尝试突破这个阻力位，却未能成功，之后回撤至1.42元的主要支持水平。历史数据显示，这只股难以突破1.65元的主要阻力水平。

投资者不妨留意这只股能否在接下来几周成功突破阻力位。若无法突破阻力位，短线投资者可考虑趁这只股进入跌势来获利。长期投资者则可选择等待股价突破阻力位，或者等到股价再度跌至1.42元的主要支持水平才考虑进场。

icy97

新加坡恐壟斷市場 阻綜合保收購Radlink
財經16 Mar 2015 17:12
http://www.chinapress.com.my/node/606696

（吉隆坡16日訊）新加坡競爭委員會（CCS）以減低市場競爭力為由，阻止綜合保健控股（IHH，5225，主要板貿服）收購Radlink亞洲公司全數股權。

根據新加坡競爭委員會文告指出，這項收購案將影響市場實質競爭，因此不通過這項收購案，這也是該委員會首次臨時決定阻止一項併購案。

“併購完成后，綜合保健控股間接子公司百匯（Parkway）將通過持有30%股權的新加坡Positron Tracers公司，以及持有100%股權的Radlink亞洲，成為新加坡唯一的放射性藥物供應商。”

該委員會指出，在未來兩到三年內，沒有潛在放射性藥物供應商進入新加坡市場，換言之，合併后不會有實際競爭。

根據上週五報導，綜合保健控股因買賣協議無法達成先決條件，取消以3億4650萬令吉收購新加坡Radlink亞洲，后者為新加坡最大型門診診斷成像供應商。