Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Wednesday, October 15, 2014

TMCLife ... WIll Lim Consolidate His Healthcare Projects Under TMC?

It operates its flagship hospital and fertility centre, Tropicana Medical Centre in Kota Damansara and the TMC Fertility Centre in Damansara Utama, with branches located in Kepong, Puchong, Penang and JB.

In Aug 2010 Peter Lim first acquired a 29.6% stake in the company. On Aug 7 2014 he launched a mandatory takeover offer with offer price at rm0.48 per share for the remaining 40.76% stake that he does not own. To date (Oct 2014) he owns 76.57% of shares in TMC. Though he does not comply with Bursa’s listing requirement of having at least 25% public shareholding spread, Lim has expressed his intention to keep TMC listed and would rectify the public shareholding spread.

With Lim owning other hospitals in the region, most notably Singapore’s leading healthcare provider – Thomson Medical Centre, it would be interesting to see whether Lim would consolidate some of his Malaysian healthcare projects under TMC. Thomson Medical Centre Ltd was previously listed in Singapore but privatized by Lim in 2010.

Notably Lim is teaming up with the Johor royal family to build a USD1.6 billion medical themed integrated complex in JB with supporting medical infra, apartments and entertainment outlets.

Its book value stood at rm0.169. TMC Life has net cash of rm30.6 million.

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