KUALA LUMPUR (Sept 9): IHH Healthcare Bhd's share price rose as much as 38 sen or 5.94% to a record high of RM6.78 today.
On market close, the stock pared some gains to close at RM6.61, with some 31.02 million shares traded, giving it a market capitalisation of RM58.03 billion. It was the fifth top gainer on the local bourse. Year to date (YTD), its share price has risen about 20%.
In a filing with Bursa today, IHH Healthcare noted that the Employees Provident Fund (EPF) disposed of a total of 1.99 million shares and acquired a further 350,000 shares in the company on Sept 3.
As it stands, the EPF currently has a 8.85% direct stake in IHH Healthcare.
As at March 31, 2021, the largest shareholder of IHH Healthcare was Japan's Mitsui & Co Ltd through its wholly-owned subsidiary MBK Healthcare Management Pte Ltd with a 32.9% stake in the company, followed by Malaysian sovereign wealth fund Khazanah Nasional Bhd through its wholly-owned subsidiary Pulau Memutik Ventures Sdn Bhd with a 25.8% stake.
It should be noted that in November 2018, Khazanah sold a 16% stake or 1.4 billion shares in IHH Healthcare to Mitsui for RM8.42 billion or RM6 per share as part of its ongoing divestment exercise to offload “non-critical, non-strategic” assets. Since then, there had been talks of the state-controlled investment arm divesting out of IHH Healthcare.
However, in May 2021, Khazanah managing director Datuk Shahril Ridza Ridzuan dismissed the rumour, telling The Edge that Khazanah was not selling its remaining stake and that there had not been any offers to buy.
Last month, IHH Healthcare announced that it returned to the black for the second quarter ended June 30, 2021 (2QFY21) as it posted a net profit of RM483.31 million, versus a net loss of RM120.64 million a year earlier, on the back of stronger earnings before interest, taxes, depreciation and amortisation (EBITDA).
Quarterly revenue jumped 66.47% to RM4.27 billion from RM2.56 billion for 2QFY20 as more patients returned to the group’s hospitals for treatment in some markets, including Malaysia, Singapore, India and Turkey, as lockdowns gradually eased.
For the first half ended June 30, 2021 (1HFY21), IHH Healthcare recorded a net profit of RM858.93 million, versus a net loss of RM440.43 million for the previous January-June period, as revenue rose 34.24% to RM8.22 billion from RM6.12 billion.