Kuala Lumpur, March 29: Southeast Asian healthcare sector, LYC Healthcare Berhad (“LYC Healthcare”), a key player in the healthcare industry specializing in mother and child care services, has announced that its subsidiary, LYC Medicare Singapore Limited (“LYC Medicare Singapore”), is set to make its mark on the Singapore Exchange Limited (“SGX”) Catalist Board.
The subsidiary, in which LYC Healthcare holds a 64.5 per cent stake, has lodged a preliminary offer document with the SGX, a step managed by Evolve Capital Advisory Private Limited as the Sponsor.
This move represents a strategic effort by LYC Healthcare to extend its renowned healthcare services beyond Malaysia, aiming to tap into the dynamic healthcare market of Singapore.
By adhering to the stringent regulatory standards of the SGX, LYC Healthcare not only showcases its commitment to excellence but also paves the way for further growth and expansion opportunities.
The initiative is seen as a pivotal step in LYC Healthcare’s strategy to enhance its liquidity and access to capital markets, while also boosting its brand presence within the Singaporean market.
This is expected to increase consumer and investor awareness in the region, fostering a stronger connection with the community.
Sui Dong Hoe, Managing Director and Group Chief Executive Officer of LYC Healthcare, expressed his enthusiasm for this new chapter, stating, “The lodging of LYC Medicare Singapore’s offer document with the SGX marks a crucial milestone in our expansion journey. Our vision is to solidify our position in the Southeast Asian healthcare landscape, and this initiative is a testament to our commitment towards that goal. We are confident that this venture will not only enhance our brand’s presence in Singapore but also fortify our mission to deliver superior healthcare services across the region.”
As of the close of trading today, LYC Healthcare’s shares stood at RM0.185, reflecting a total market capitalization of RM128.1 million, signaling strong investor confidence in the company’s strategic direction and future prospects.
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