UEM EdgentaBhd, a total asset solutions provider, is banking on its healthcare support business to continuously drive revenue and profit growth in the current financial year ending Dec 31, 2019.
CEO Datuk AzmirMerican said the firm considers tremendous business possibilities in Singapore after the country’s Ministry of Health’s continuing re-clustering of health care facilities, resulting in countless fresh tenders being awarded.
He said the healthcare aid department had taken part in the tenders, winning agreements valued more than RM500 million effectively.
“The tendering method from the restructured clinics is not yet complete, there will be more tendering and we will be participating.
“More (agreements) we should be prepared to win… But generally, our healthcare company is expanding quite vigorously, “he informed the company’s outlook press conference for the second quarter of this year.
Revenue from UEM Edgenta grew 10.4% to RM1.11 billion in the first quarter of 2019 (1H19) from the same era last year primarily motivated by greater income contribution from the department of healthcare assistance.
The division’s revenue rose year-on-year by 19.7% to RM548.3 million owing to fresh initiatives obtained from its Singapore and Taiwan regional activities.
The department added 51% from 46% reported a year earlier to the total revenue of the company in 1H19.
Azmir did not rule out the option for the company to explore business possibilities in Indonesia’s healthcare industry for a long-term sustainability approach.
He said the firm would work with local competitors on the construction of the republic’s companies, which he called an “appealing market.”