IHH Healthcare - UOB Kay Hian 2025-10-21: Defensive Medicine In a Risk-On Market

• Neutral Budget 2026 impact to IHH Healthcare – The 2.6% increase in allocation to the Ministry of Health marks a moderation from the double-digit growth seen in previous years. The absence of major new private hospital-related policies is largely in line with expectations.

• - Read this at SGinvestors.io -

Expect 2H25 earnings to be firmer.

• IHH Healthcare’s 1H25 earnings of RM844m accounts for 47% of our full-year earnings forecast. However, we expect a firmer set of earnings in 2H25 to shore up overall earnings. This is due to:

  1. - Read this at SGinvestors.io -
  2. a ramp-up of its new hospitals along with the integration of acquired Bayender Healthcare (three hospitals) and more stable macro conditions, and
  3. the integration of Fortis and Gleneagles India will result in synergies through standardised procurement, IT and cost optimisation.

Status quo with Fortis unchanged.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-05-28 IHH Healthcare 1Q26 - Stable Fundamentals, Limited Upside.

Price targets by 3 other brokers at IHH Healthcare Target Prices.

Listing of research reports at IHH Healthcare Analyst Reports.

Relevant links:
IHH Healthcare Share Price History,
IHH Healthcare Announcements,
IHH Healthcare Dividend Payout Dates & Corporate Actions,
IHH Healthcare News