- Amid rising policy intervention in Malaysia’s private healthcare sector, we view IHH Healthcare as an effective hedge against domestic reset risks, supported by its geographically diversified earnings base.
- - Read this at SGinvestors.io -
Key positioning.
- We like IHH Healthcare for its disciplined execution, strong regional footprint, and focus on a more affluent patient mix, which together underpins earnings resilience.
- We view the group as a premium hedge in the current operating environment, given focus on higher-equity cases, larger exposure in the medical tourism space (particularly post the Island Hospital acquisition), and expected expansion in margins, in addition to its diversified portfolio hospital base.
Earnings revision and outlook.
- - Read this at SGinvestors.io -
- While Malaysia stands out as the bright spot, India stays on its margin convergence trajectory, and Singapore’s normalisation hinges on the Mount Elizabeth Orchard ramp-up.
Maintain BUY, higher SOP-derived MYR9.52 target price from MYR9.14, 10% upside.
- Read more at SGinvestors.io.
