$TMCLIFE / 0101 (TMC LIFE SCIENCES BERHAD) AGM Notes

1. Thomson Iskandar location is around 1km from SG-JB border. Target operational by 2030 because they are not just building the hospital, but even the utility infrastructure there.
3. Aim to increase growth in returns to shareholders.
4. Expand Ambulatory Care services across Malaysia.

5. Strategies for handling brain drain issue:
- work with universities, sponsor students, hire graduates
- performance based remuneration
- competitive packages, and allow their doctors to have 2 sessions a week in other hospitals (synergistic, as the Drs can refer cases back to THKD too)

6. Inflationary costs?
- Generally utilities costs are all up but margins are still maintaining in spite of higher staff costs. Depreciation of the new wing has started impacting the P&L. Staff costs target to be below 30% of revenue. Currently around ~27%. Going to double up the number of doctors by 2025... need to find more nurses. 4 nurses to 1 bed.

7. Done a number of first time surgeries/procedures in Malaysia/asia pacific. Abbott automation, 100% automated, no personnel intervention needed in handling the vials and test tubes. Focusing on women and paeds care.

8. Foreign to local patients: currently around 30% foreign, 70% local generally. In line with rest of market in Selangor area. Penang has more foreign patients, however very saturated in Penang already.

9. Current bed utilization is around ~66%. Looking to expand to 500 beds by 2025. Current number of beds with license is ~350.

10. Why opening of bed seems slowed down?
Not all beds are the same, the recent ones are HDU (something like more complex and critical cases). In general, still on track to meet target of 500 beds by 2025. Every time utilization reaches around ~65%, then new beds will be opened progressively. No point opening straightaway to 500 in one shot.

11. Thomson Iskandar expected operational by 2030. Focusing on THKD first, still have a parcel of land for next phase of expansion here before needing Thomson Iskandar.

12. TMC Fertility is expecting strong growth.


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It was an interesting AGM, because outside the venue they provided free basic health screening and showcased some of their products from the various business segments, which is always nice to see. For better or worse, I found out that I've definitely become "unfit" after starting work and leaving uni 😂

They provided lunch but unfortunately seems like nobody knew about it as it wasn't announced or mentioned, so it's sad that very likely a lot of the food will simply be wasted. I'm a big opponent against food waste, so it would be good if they either simply didn't provide it, or make clear what they are going to give. It's a small pet peeve, that's all.

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