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LRT3 starts service on stable footing

2 months ago

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by SHAHRIN AIZAT NOORSHAHRIZAM

THE Shah Alam LRT3 Line recorded a largely trouble-free debut today, with Prasarana Malaysia Bhd reporting only minor operational issues as it assesses passenger movement and station operations during the initial rollout.

Prasarana president and group chief executive officer Amir Hamdan said train services ran according to schedule, with stations operating smoothly and peak-hour train frequency maintained at approximately eight-minute intervals.

“So far, everything appears to be under control. During peak hours, the headway is around eight minutes, and operations as well as station facilities are functioning well.

“There are some minor feeder service issues, but nothing significant. It is normal when a new line opens. Once many people begin using the ticketing machines and fare gates, we will be able to identify what improvements need to be made,” he told reporters after taking a media ride from Glenmarie 2 station to Bandar Utama station.

Amir said the first day of service was crucial for observing commuter behaviour, particularly at interchange stations linking the new line with existing rail networks.

He observed how passengers move between the Shah Alam Line and the Kelana Jaya Line today to see if any improvements can be made.

He noted that public interest had exceeded expectations, with many commuters boarding the trains simply to experience the new line, alongside regular office workers and students travelling to their destinations.

“Earlier, when I travelled from Bandar Utama to Stadium Shah Alam, the trains were busy. Many passengers were taking videos and enjoying the experience.

“Some also told us that stations such as Kerjaya serve office areas, so they are looking forward to commuting to work more comfortably without having to drive, while also avoiding traffic congestion,” he said.

Prasarana estimates between 5,000 and 10,000 passengers used the Shah Alam Line during its opening morning, a figure Amir described as encouraging given that services commenced on a normal working and school day.

“When the MRT Putrajaya Line opened, the numbers were around that level (5,000 to 10,000 ridership) too, although it is a much larger system and covers a longer distance than the Shah Alam Line.

“Our first-year target is 67,000 passengers a day. Today is both a working day and a school day, so people will need time to get used to the new service. For me, 5,000 to 10,000 passengers on the first day this morning would be very encouraging,” Amir said.

On future enhancements, he said Prasarana has not yet decided whether to introduce a women-only coach on the Shah Alam Line, adding that such a move would depend on passenger feedback and demand studies.

He also said platform safety barriers would eventually be installed along the line as part of Prasarana’s wider network upgrade programme.

The first stations on the Kelana Jaya and Ampang lines are expected to receive the barriers by the end of August, with more installations to be completed by year-end and the remaining stations next year.

The 20-station Shah Alam Line is supported by 44 feeder buses and 40 Rapid KL On-Demand vans. Prasarana is offering free rides on both the rail service and feeder buses until July 31.

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PAC findings raise hard questions on healthcare affordability

2 months ago

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MORE and more Malaysians are worrying about their access to healthcare as they age. It is common today to meet people in their 60s, 70s and 80s who no longer see private medical insurance as a source of succour in old age. Some had done basic financial planning and had kept their policies for years, but they simply cannot afford the premiums today. The hikes have been too much and too sudden for them to bear.

Against that backdrop, it is time for the government to do something drastic to ensure Malaysians can grow old with some assurance that they will have access healthcare, whether through the public system or private insurance. This can no longer be treated merely as a dispute between insurers, hospitals and regulators. It has become a national issue because when private healthcare collapses, the burden eventually shifts to public hospitals.

A renewed push came from a lengthy report recently released by Parliament’s Public Accounts Committee (PAC), the financial watchdog of the federal government. In its 1,999-page report tabled in Parliament, the PAC examined rising health insurance premiums, private hospital charges and their impact on public healthcare. The key agencies under its scrutiny were the Ministry of Finance (MOF), Ministry of Health (MOH) and Bank Negara Malaysia (BNM).

One of the PAC’s key recommendations is for the three agencies to establish a new, independent governance structure for private healthcare to better protect consumers, including reviewing and regulating healthcare charges and health insurance benefits. It is a timely recommendation by the committee, chaired by Datuk Mas Ermieyati Samsudin.

There is really little hope for most Malaysians when it comes to rising healthcare costs. The nation requires a major shake-up to ensure the rakyat are cared for as they grow old, fall ill or lose the protection they thought they had.

Findings

The committee found that BNM’s role in regulating the stability of insurance and takaful operators is strong but reactive. It also noted that the central bank has no legal instrument to control treatment costs at private hospitals. This is the critical gap. Premiums

rise because claims increases, and claims increase because private treatment costs continue to climb. Yet the regulator’s reach does not fully extend to the source of the cost pressure.

On closed risk pools, the PAC noted that the practice of closing older risk pools while offering lower premiums to new policyholders unfairly penalises loyal customers. Their premiums rise sharply as the older pool shrinks and becomes more claims-sensitive. On repricing shocks, the committee said the current pricing model can result in sudden premium increases of between 40% and 70% in a single revision. We have heard this before, have we not?

As far as private hospitals and treatment charge structures are concerned, the committee noted the absence of standardised hospital billing, meaning actual costs are not transparent. It said medicine prices are deliberately marked up to cover operating costs that are not charged directly, such as utilities and nursing services. This leaves patients and policyholders with little visibility into what they are actually paying for.

On the unbundling of charges, the PAC noted that some hospitals separately and creatively bill patients for basic items such as clinical waste disposal, pillow-cases, and alcohol swabs, costs that should ordinarily be included in basic room charges. The committee also captured the issue of price discrimination involving guaranty letters, or GLs, noting that hospitals impose much higher treatment charges on patients using GLs compared than on those paying cash or using pay-and-claim arrangements.

For doctors, however, the report offers some reprieve. It found that doctors’ professional fees are not the main cause of healthcare inflation.

“Doctors’ professional fees have been regulated and frozen since 2013. The main cause of inflation is the surge in non-professional components such as laboratory tests, medical equipment, utility costs and defensive medical practice,” the report said.

The PAC also examined the pharmaceutical supply chain and monopoly issues. It highlighted excessive mark-ups, noting very high median mark-ups along the supply chain. In some cases, generic medicines in hospitals are priced higher than branded innovator medicines. That is a troubling finding because generic medicines are intended to make healthcare more affordable, not become another source of inflated costs.

Recommendations

The PAC released 17 recommendations in the report. BNM has been asked to strengthen risk pooling requirements across similar cohorts, including closed portfolios, while ensuring their effectiveness continues to be monitored. It has also been urged to issue more detailed and uniform operational guidelines, including a standardised FAQ, to prevent insurance companies from manipulating interpretations of interim measures.

The committee also wants the central bank to take firm punitive action against any insurance operator found to have manipulated interpretations or failed to comply with interim measures to the detriment of policyholders’ welfare and interests.

It must also ensure that the insurance and takaful industry moves towards smaller and more stable annual premium adjustments, or incremental annual repricing, to avoid major financial shocks for policyholders. Finally, BNM has been asked to review premium settings by cohort and adopt a carefully calibrated approach to strengthen fairness in risk sharing while maintaining long-term affordability and sustainability.

There is more in the report to unpack, but the central point is hard to miss: Corrective action cannot wait. The findings are already on the table. The question now is whether Putrajaya, BNM, MOH, MOF, insurers and private hospitals are prepared to act before more Malaysians are priced out of healthcare in their old age.

Habhajan Singh is the corporate editor of The Malaysian Reserve.

This article first appeared in The Malaysian Reserve weekly print edition

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Business News

Sealink pushes for higher 41 sen offer as Carimin privatisation talks heat up

2 months ago

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An initial assessment finds the proposed share price falls below the company’s underlying value

by RUPINDER SINGH

SEALINK International Bhd has escalated its pushback against Carimin Petroleum Bhd’s privatisation proposal, requesting an upward revision to the 41 sen per share offer after concluding that the valuation does not adequately reflect its asset base and financial performance.

The development marks a clear intensification in negotiations following Carimin Petroleum’s May 12 proposal to privatise Sealink International via a members’ scheme of arrangement in a cash deal valued at about RM165 million.

Under the proposal, Carimin Petroleum which already holds a 19.5% stake or 97.5 million shares plans to acquire the remaining 80.5% stake, or 402.5 million shares, at 41 sen each.

From Extension Request to Valuation Challenge

The latest push for a higher price follows earlier signs that Sealink International’s board required additional time to assess the offer.

On May 20, the company requested a 60-day extension from the original May 26 deadline to consider Carimin Petroleum’s proposal, stating that the additional time was necessary for proper evaluation.

At that stage, Carimin Petro- leum said its offer represented a 20.6% premium to Sealink International’s last traded price of 34 sen prior to the announcement.

It also indicated that even if the privatisation did not proceed, it intended to increase its stake in

Sealink International to as much as 32.5% at a maximum price of 41 sen, subject to takeover rules.

In its latest filing, Sealink International said the board, excluding executive chairman Lo Ling, ED Lim Yew Hoe, and independent non-ED Lim Litt, had formally written to Carimin Petroleum seeking a higher offer price.

The board’s position was based on a preliminary desktop valuation of Sealink International’s material assets, which it said indicated the 41 sen offer does not fully reflect the group’s underlying value.

However, Lim Litt objected to the timing of the request for a higher price, arguing that the board should first obtain the independent adviser’s opinion before engaging Carimin Petroleum on valuation matters.

Sealink International added that it has yet to reach a final decision on the proposal and will continue evaluating the offer, including any response from Carimin Petroleum as well as the independent advisor’s recommendation.

Valuation Support from Fundamentals

As at end-March, Sealink International’s net asset value stood at 45.44 sen per share, above the offer price. The group was also in a net cash position of RM11.36 million, with RM42.57 million in cash against RM31.21 million in borrowings.

These metrics have strengthened the board’s position that the current offer may undervalue the company’s underlying assets.

Sealink International has appointed NewParadigm Securities Sdn Bhd as independent advisor to evaluate the scheme of arrangement, while Affin Hwang Investment Bank Bhd is acting as principal advisor. The independent advisor will assess the equity value of the scheme shares based on earnings and asset-based methodologies.

The board said its final recommendation will be made after comparing Carimin Petroleum’s offer against the independent advisor’s valuation.

Carimin Acknowledges Request

Meanwhile, Carimin Petroleum has confirmed it received Sealink International’s letter requesting a revision of the offer price and said further announcements will be made in due course.

The proposed privatisation remains subject to approvals and shareholder consideration, with the outcome likely to hinge on whether Carimin Petroleum is willing to lift its offer in response to Sealink International’s valuation gap argument.

The transaction, if completed, will result in Sealink International becoming a wholly owned subsidiary of Carimin Petroleum and subsequently delisted from Bursa Malaysia.

This article first appeared in The Malaysian Reserve weekly print edition

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News

LRT3 capacity is enough to meet demand, says Hasbi

2 months ago

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by HIDAYATH HISHAM

THE government has assured that the Light Rail Transit 3 (LRT3) line has sufficient capacity to meet user demand, with its 22 three-car train sets able to carry up to 223,560 passengers a day.

Deputy Transport Minister Datuk Hasbi Habibollah said current projections show daily ridership is expected to reach 67,000 passengers in the first year of operations, well below the line’s maximum daily capacity.

“The 22 three-car train sets used for LRT3 are expected to accommodate about 6,210 passengers per hour per direction, or 223,560 passengers a day.

“The projected daily ridership in the opening year is 67,000 passengers. As such, LRT3’s service capacity is sufficient to meet users’ needs,” he said in the Dewan Rakyat today.

Hasbi was replying to a supplementary question from Permatang Pauh MP Muhammad Fawwaz Mohamad Jan on whether the cost-cutting exercise for LRT3 would lead to future congestion during peak hours, similar to what users of the Kelana Jaya Line have experienced.

Muhammad Fawwaz had cited the Finance Ministry’s 2018 statement that the LRT3 project cost was reduced by nearly 47%, from RM36.6 billion to RM16.6 billion, to save government expenditure.

He mentioned the review also involved reducing the number of train sets from 42 to 22, reducing the size of the depot, redesigning stations according to LRT standards and making several other adjustments.

Hasbi said passenger capacity projections had been taken into account during the 2018 project review, and the current capacity is expected to be sufficient based on projected ridership growth.

He said the government also has plans for the second phase of the LRT3 project, involving the construction of five additional stations and the addition of seven train sets to increase capacity when needed.

Although the original platforms planned for six-car trains were revised to four-car trains after the review, Hasbi said the trains will initially operate with three cars, leaving room for capacity expansion in future.

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2 months ago 0 comments

PR Newswire

How can a company navigate business cycles and achieve lasting success: Chairman and President of Midea Group

2 months ago

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GUANGZHOU, China, June 29, 2026 /PRNewswire/ — This is a news report from South:

Starting June 27, Guangdong will launch the “Beacon Over Lingnan” video series across major online platforms. The first episode features a dialogue with Fang Hongbo, Chairman and President of Midea Group. Join us as we get to know the leader of this Fortune Global 500 company.

The first season of “Beacon Over Lingnan” consists of 20 episodes divided into four chapters: economy, culture, science and education, and people’s livelihood. Twenty guests will share their thoughts on work and life, telling stories of Guangdong, the Greater Bay Area, and China from their personal perspectives.

SOURCE South

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2 months ago 0 comments

Business News

Axiata’s FY26 earnings seen jumping 46%

2 months ago

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CIMB Securities Sdn Bhd has resumed coverage on Axiata Group Bhd with a ‘Buy’ call and a lower sum-of-parts target price (TP) of RM2.55, citing strong earnings growth prospects and potential asset monetisation as key catalysts.

The research house forecasts Axiata’s core net profit to surge 46% year-on-year (YoY) in financial year 2026 (FY26), driven mainly by stronger contributions from its Indonesian unit XLSmart and associate CelcomDigi Bhd, underpinned by merger synergies.

Earnings are expected to continue expanding by 18% to 21% annually in FY27 and FY28.

CIMB Securities said Axiata’s dividend outlook remains attractive, with yields projected at 5.6% to 6.6% over FY26 to FY28, based on management’s target to increase dividend per share by at least 10% annually to between 11 sen and 13 sen.

It noted that potential monetisation of Axiata’s infrastructure assets, particularly tower unit E dotco Group Sdn Bhd, could further strengthen the group’s balance sheet and improve dividend-paying capacity.

“On a business-as-usual basis, we foresee a strong core net profit growth outlook for Axiata,” CIMB Securities said in a note last week.

The brokerage said Edotco’s monetisation remains on track for completion this year, although it now assigns a lower valuation multiple of seven times enterprise value to EBITDA, compared with eight times previously, reflecting weaker frontier market tower valuations.

Based on this, CIMB Securities estimates Axiata could receive RM4.3 billion in cash, equivalent to 47 sen per share, from a potential sale.

This could reduce Axiata’s net debt-to-EBITDA ratio to 0.9 times by end-FY26, from 2.5 times currently.

If the group maintains a post-sale net debt-to-EBITDA target of two times, it could unlock up to RM3.9 billion in additional debt headroom for fresh investments or higher shareholder returns, CIMB Securities said.

The brokerage added that Axiata’s planned FY26-FY28 dividends are “firmly supported” by operating company dividend inflows and deferred cash proceeds from the XLS merger and the sale of Ncell.

It also estimated that an Edotco sale and lower debt levels could raise Axiata’s annual dividend- paying capacity by an additional one sen per share. — TMR

This article first appeared in The Malaysian Reserve weekly print edition

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Business News

XL Holdings plans placement for Giant Mini growth

2 months ago

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XLH intends to open 20 new Giant Mini outlets across the Klang Valley between 4Q26 and 4Q27 (Pic courtesy of Giant Malaysia’s Facebook)

MAIN Market-listed XL Holdings Bhd (XLH) has proposed a private placement of up to 10% of its total issued shares to independent third-party investors, aiming to raise up to RM42.95 million.

The exercise is intended to fund the group’s aggressive expansion into the retail and wholesale grocery segment under the Giant Mini brand.

The fundraising follows XLH’s strategic pivot into grocery retail, it said in a filing with Bursa Malaysia.

The group was previously anchored in edible foods such as ready-to-serve meals, fish farming, ornamental fish merchandise, pineapple cultivation, and edible bird’s nest trading, before announcing its diversification into grocery retail on May 25.

The strategy accelerated after its wholly owned subsidiary XL Retail Sdn Bhd, formerly known as XL Farming, completed the RM15 million acquisition of 34 Giant Mini outlets across the Klang Valley from Jutaria Gemilang Sdn Bhd on May 31.

XLH intends to channel 70% of gross proceeds into the grocery segment.

XLH plans to allocate 70% of gross proceeds from the placement to the grocery segment.

Under the maximum scenario of RM42.95 million raised, RM30.07 million will be channelled into expanding the business, assuming full exercise of 159.11 million Warrants B at an exercise price of 53 sen and resale of 532,000 treasury shares.

Of this RM30.07 million allocation, RM10.52 million will be used to establish new Giant Mini outlets and another RM10.52 million will be directed towards inventory, including fresh produce and fast-moving consumer goods.

A further RM4.51 million will be allocated for refurbishment of the existing 34 outlets, RM3.01 million for the setup of a Klang Valley warehouse, and RM1.5 million for machinery and equipment such as IT systems and forklifts.

XLH intends to open 20 new Giant Mini outlets across the Klang Valley between the fourth quarter of 2026 (4Q26) and 4Q27.

Refurbishment works on the existing outlets, covering upgrades to lighting, flooring, structures and cash counters, will begin in 4Q26 and are expected to be completed by 3Q27.

To support its expanded supply chain, the group has identified a warehouse in Kota Damansara, Selangor for acquisition at an estimated RM15 million, to be funded via bank borrowings.

A portion of the place- ment proceeds, amounting to RM3.01 million, will be used to equip the facility with racking systems, flooring and electrical infrastructure.

The remaining proceeds will be deployed for working capital requirements including procurement, supplier payments and administrative expenses, as well as corporate expenses of RM120,000.

Based on an illustrative issue price of 65 sen per share, representing a 9% discount to XLH’s five-day volume-weighted average price of 71.43 sen as at June 12, the group’s capital structure will expand significantly under the maximum scenario.

Shares in issue will rise to 726.85 million, increasing share capital to RM369.39 million.

Substantial shareholder and executive chairman Ng Min Lin’s direct stake will be diluted from 27.90% to 25.36%.

Assuming full exercise of his 67.97 million Warrants B, his post-placement stake will stand at 28.59%.

Net asset per share is expected to improve slightly from 47 sen to 50 sen, while gearing is projected to remain negligible at below 0.01 times.

While the placement is expected to dilute earnings per share in the near term, XLH expects the integration of its retail network to generate operating synergies.

The Giant Mini outlets are expected to serve as direct distribution channels for its ready-to-serve meals and pineapple-based products, enhancing margins and strengthening recurring revenue visibility.

The expansion comes amid a recovery in Malaysia’s consumer sector, with retail trade reaching RM71 billion in April 2026, representing a 6.3% year-on-year (YoY) increase driven by non-specialised stores, mini-marts and convenience retail formats.

XLH also enters this expansion phase with stronger financial performance, having recorded a 54.7% increase in revenue to RM109.1 million and a 50.4% rise in profit before tax to RM10.4 million for the financial year ended April 30, 2025 (FY265).

Subject to regulatory approvals, applications are expected to be submitted within a month, with completion of the private placement targeted for 3Q26. — TMR

This article first appeared in The Malaysian Reserve weekly print edition

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2 months ago 0 comments

Corporate Malaysia News

Kaotim MediKad boosts access to affordable medical protection

2 months ago

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Eligible customers can enjoy immediate medical protection, with waiting periods for selected illnesses waived upon issuance of a new certificate

by FAREZZA HANUM RASHID

SYARIKAT Takaful Malaysia Keluarga Berhad (Takaful Malaysia) is introducing the Kaotim MediKad Campaign, aimed at helping eligible Malaysians secure medical takaful coverage through a simplified and digital-first experience.

Running from May 4 to June 30, 2026, the campaign is designed for those who already hold an existing individual medical takaful certificate or medical insurance policy with takaful or insurance companies other than Takaful Malaysia and are seeking an alternative medical protection solution that is straightforward, affordable and convenient to access.

At the centre of the campaign is Kaotim MediKad, a digital-first medical takaful protection plan offered by Takaful Malaysia with monthly contributions starting from as low as RM38 a month (based on a female aged 11-15 — age next birthday with a standard profile). Customers who choose the annual payment mode are also entitled to a 10% discount on contributions.

The plan is structured to provide essential medical protection while maintaining affordability for a broader segment of Malaysians. In addition to hospitalisation and surgical coverage, Kaotim MediKad also includes selected outpatient benefits, subject to the annual limits of the selected plan.

To further enhance protection, customers may choose the MediBooster rider, which increases annual coverage limits up to RM1.1 million.

One of the key features of Kaotim MediKad is its fully digital customer journey. Through the Kaotim platform, customers can register, subscribe and manage their medical takaful coverage directly online without relying on third-party intermediaries.

The campaign also introduces several benefits designed to make medical coverage more accessible for eligible applicants.

Among the most notable is the waiver of the usual waiting periods that commonly apply to medical plans. Under the Kaotim MediKad Campaign, eligible customers may enjoy immediate medical protection where the standard waiting periods of 120 days for specific illnesses and the 30 days for other illnesses are waived upon issuance of a new certificate, subject to underwriting approval and the campaign’s terms and conditions.

The campaign also includes a one-month contribution rebate for certificates that remain active for three consecutive months from the certificate issuance date.

For customers who choose for monthly contribution payments, the fourth month’s contribution will be waived automatically. Meanwhile, customers who choose annual payment mode will receive the equivalent rebate amount offset against their next contribution due.

Another consumer-friendly aspect of the campaign is its simplified onboarding process. Eligible applicants are not required to undergo a medical check-up, subject to underwriting assessment and approval as a standard case.

The campaign is open to customers who subscribe to a new Kaotim MediKad certificate during the campaign period and who already have an existing individual medical takaful certificate or medical insurance policy with another takaful or insurance company, excluding Takaful Malaysia.

To qualify, the existing medical coverage must have been continuously in force for more than four months at the time of application. Applicants must also be assessed and approved by Takaful Malaysia’s underwriting as standard cases without loadings or exclusions applied.

According to Takaful Malaysia, these requirements are intended to ensure responsible underwriting practices while enabling eligible consumers to enjoy the campaign benefits.

Applications can be made through the Kaotim MediKad online portal at medikad.kaotim.my or 6. Takaful myCare Centre (TMCC) branches nationwide.

At the same time, the availability of physical branches ensures support remains accessible for customers who may prefer face-to-face assistance.

As part of the application process, customers are required to truthfully declare their existing medical takaful or insurance coverage with another provider and acknowledge the relevant campaign disclosure under the “Aqad, Declaration and Authorisation by Proposed Participant” section before payment is made.

This disclosure is intended to ensure transparency and help customers understand the campaign mechanics, eligibility criteria and underwriting requirements associated with immediate coverage benefits.

Beyond the main campaign, Kaotim is also running a Customer Get Customer referral initiative that rewards existing customers for successful referrals.

Under the referral programme, customers can receive a RM40 Touch ’n Go eWallet Reload PIN for each successful Kaotim MediKad referral. Additional rewards are also offered for every five successful subscriptions, subject to terms and conditions.

The introduction of the Kaotim MediKad Campaign comes at a time when healthcare inflation and medical treatment costs remain a key concern among Malaysians.

By combining affordable contributions, digital accessibility and selected campaign incentives, Takaful Malaysia aims to lower the barriers to medical takaful participation while supporting broader awareness on the importance of healthcare protection.

Takaful Malaysia emphasises that all applications remain subject to underwriting assessment and approval, in line with responsible risk management practices.

The campaign does not guarantee automatic acceptance, nor does it imply unlimited coverage for all illnesses or treatments. Coverage remains subject to the terms, conditions and annual limits of the selected plan.

For Malaysians seeking a more accessible and digitally enabled approach to medical protection, the Kaotim MediKad Campaign offers an opportunity to explore medical takaful coverage with added flexibility and convenience during the campaign period.

This article first appeared in The Malaysian Reserve weekly print edition

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Markets News

Petronas Chemicals upgraded to Buy, target price up at RM5.56

2 months ago

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PETRONAS Chemicals Group Bhd is evaluating the divestment of its 50% stake in Pengerang Petrochemical Company Sdn Bhd (PPC) by end-2026, potentially removing a significant earnings drag and unlocking value through a special dividend. Meanwhile, the renewal of a major olefins & derivatives customer’s under term contract underscores increasing demand for supply security. We lower our FY26 urea average selling price assumption to USD550/metric tonne (MT) (from USD700/MT), resulting in a 22% cut to our FY26 earnings forecast, while maintaining FY27-FY28. Following the recent share price correction, we believe the risk-reward has become more compelling. Upgrade Petronas Chemicals to Buy (from Hold) with a revised target price of RM5.56 (from RM5.63), based on a 1.2x price to book value multiple (near 5-year average). – HLIB Research, a unit of Hong Leong Investment Bank Bhd (June 29, 2026)

(Calls by analysts tracked by Bloomberg: 9 Buy, 9 Hold, 3 Sell; Consensus target price: RM5.54)

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2 months ago 0 comments

PR Newswire

International Health Innovation & Exchange Association (IHIEA) Launches in Hong Kong and Unveils Six-Point Action Blueprint

2 months ago

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Focusing on cross-border healthcare, continuing medical education, innovation translation, Global Medical Excellence Center certification, data collaboration and standards for emerging technologies

HONG KONG, June 29, 2026 /PRNewswire/ — The International Health Innovation & Exchange Association (IHIEA) held its launch press conference in Hong Kong today, formally announcing the platform’s establishment and unveiling its future-oriented Six-Point Action Blueprint. Based in Hong Kong, connected to the Guangdong-Hong Kong-Macao Greater Bay Area, oriented toward Asia and linked with the world, IHIEA aims to build an international collaborative platform for healthcare innovation that connects clinical practice, research, industry, capital, regulatory systems and payment mechanisms, helping medical innovations be translated into clinical and social value more efficiently, safely and sustainably.

On the occasion of the Association’s establishment, Mr John KC Lee, Chief Executive of the Hong Kong Special Administrative Region, sent an inscription to offer encouragement: “With brilliant strategy and great talent, benevolence reaches the four seas; With new vision and fine medicine, blessings spread to all directions.” At the press conference, Dr Leong Che Hung, GBM, GBS, OBE, JP, former Chairman of the Hospital Authority, attended as Honorary Chairman of IHIEA, joining distinguished guests from healthcare, academia, industry and public affairs to witness the formal launch of IHIEA.

IHIEA Co-founder and CEO Mr Dennis Lu said at the press conference that IHIEA was not established to add another “microphone” to the healthcare sector, but to build a “central processor” that genuinely addresses industry pain points. Through systematic integration of resources, IHIEA seeks to promote high-quality collaboration across critical links in the medical innovation chain.

He noted that the global healthcare industry is entering a period of deep restructuring. Demand for cross-border healthcare continues to grow, while frontier biotechnology, AI healthcare and real-world data are advancing rapidly. At the same time, the tension between the speed of technological development and the building of institutions, standards and trust systems is becoming increasingly apparent. “Technology is advancing faster and faster, while trust is being built more and more slowly; there are more and more breakthroughs in laboratories, but the outcomes that truly reach patients remain limited,” he said.

He pointed out that the core question facing medical innovation today is no longer “how to invent a new technology”. Rather, it is about building a sustainable, executable, and accountable coordination mechanism and social contract around key links such as investment, validation, regulation, pricing, payments, and broad-based adoption. IHIEA was created in this context, with the goal of helping medical innovation migrate from “concept formation” to being “clinically usable, system-governable, publicly trusted and service-accessible”.

Mr Lu further explained that Hong Kong has unique strengths in this process. Hong Kong not only has an international professional services system, a rule-of-law and compliance environment, but also forms close synergies with the Guangdong-Hong Kong-Macao Greater Bay Area, combining the ability to align with international standards with the advantages of Asian clinical application scenarios. “Hong Kong’s value lies not only in connecting the world, but also in adding value to innovation and validating it for the world,” he said. In the future, Hong Kong should not only serve as a transit point for innovation resources, but also become a calibrator of medical standards, an accelerator for translational outcomes and an amplifier of industry trust.

Around these objectives, IHIEA announced that it will fully advance the following six key action areas:

1. Upgrading Cross-Border Healthcare Services

IHIEA will support Hong Kong in developing into a major Asia-Pacific hub for high-quality international medical tourism and medical exchange. It will promote higher-level integration between premium healthcare services and regional resources, and improve the overall standard of cross-border healthcare across processes, standards, service experience, and compliance. IHIEA believes that the key to cross-border healthcare is not only “bringing patients in”, but also “coordinating action and building a system of trust”.

2. Building an International Continuing Medical Education (CME) Hub

IHIEA will actively support Hong Kong in building a continuing medical education platform that serves the Asia-Pacific and connects with the world. The platform will bring together frontier medical knowledge, clinical standards and professional training in Hong Kong and extend them to Asia-Pacific markets, further strengthening Hong Kong’s international influence in medical education and professional capacity building, and meeting the needs of tens of millions of doctors and nurses across Asia-Pacific.

3. Building a Regional Medical Innovation Translation Ecosystem

Focusing on key links such as innovative technology incubation, translational medicine, the regional establishment of international unicorn enterprises, multi-center clinical trials in the Greater Bay Area, approval coordination and payment connectivity, IHIEA will promote a more complete, efficient and resilient innovation translation system, enabling research outcomes to move more smoothly from laboratories into clinical practice and patient care.

4. Advancing the GMEC Assessment and Certification System

IHIEA will work with relevant institutions to advance the GMEC (Global Medical Excellence Center) Assessment and Certification System, and explore the establishment of a cross-regional, benchmarkable, quantifiable and continuously improving evaluation framework for medical excellence centers. This will help high-level clinical services and hospital management capabilities move toward higher international standards.

5. Exploring an “International Medical Data Hub” Cooperation Framework

Leveraging Hong Kong’s institutional and locational advantages, IHIEA will explore high-quality medical data collaboration in line with the principles of usability, control, traceability, and accountability. This will help real-world data better serve scientific research, clinical practice, approvals, payment and health management, while increasing data value and public trust in parallel.

6. Leading Standards Development for Emerging Medical Technologies

In emerging fields such as AI healthcare and frontier biotechnology, IHIEA will work with academia, industry, and relevant professional communities to advance standards, systems, ethical consensus, and responsibility frameworks. IHIEA believes that standards should not become an obstacle to innovation but should serve as a runway, providing clear boundaries and long-term support for the healthy development of new technologies.

Notably, as an important initiative for IHIEA to serve Hong Kong society and help shape healthcare trends in Asia-Pacific, the International Heart Failure and Cardiomyopathy Committee, a specialized committee under IHIEA, was also launched in Hong Kong on the same day. Bringing together renowned medical experts and scholars from China and overseas, the committee marks a substantive step forward for IHIEA in promoting frontier exchange and standards development in specialized medical fields.

At the press conference, Mr Lu made three public commitments on behalf of IHIEA: first, the cooperation IHIEA promotes must be “verifiable”, based on evidence, metrics and outcomes; second, the standards IHIEA advocates must be “executable”, capable of entering real-world settings and solving real problems; and third, the resources IHIEA connects must be “accountable”, with compliance and ethics always serving as prerequisites.

He emphasized that IHIEA will not focus only on how many events it organizes or how many partnerships it signs, but on whether it can genuinely help the industry form new consensus and collaboration mechanisms, and establish a more mature, reliable and sustainable balance between innovation and safety, efficiency and fairness, commercial return and medical ethics.

“Truly mature medical innovation is not only about whether something can be developed. It must also be affordable, governable, trusted and financially accessible,” he explained. “The destination of medical progress has never been the demonstration of technology itself. It is to ensure that every ordinary person, at life’s most vulnerable moments, still has dignity, choice and hope.”

Mr Lu said the formal establishment of IHIEA marks the launch of a future-oriented framework for medical innovation collaboration. Going forward, IHIEA will continue to make innovation its foundation, Hong Kong its anchor, standards its pathway and trust its goal, working with more partners to promote the high-quality development of the regional healthcare industry.

About the International Health Innovation & Exchange Association

The International Health Innovation & Exchange Association (IHIEA) is a Hong Kong-headquartered non-profit international academic and industry collaboration organization. IHIEA brings together leading institutions and professionals from the global healthcare industry, academia and investment community, and is committed to building an internationally influential platform for healthcare innovation and development. IHIEA aims to advance international cooperation and standards development for emerging medical technologies, empower the industry, partners and the wider community of healthcare professionals, ultimately improve public health and wellbeing, and provide innovative solutions to global and regional healthcare challenges.

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SOURCE International Health Innovation & Exchange Association (IHIEA)

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