[%AOll%] 
Research by RHB
Buy - TP RM8

"Advancing Towards a New Level Of Success; Stay BUY"

Stay BUY, with higher MYR8 TP (SOP) from MYR7.90, 27% upside. 1H24 core earnings of MYR839.8m were slightly ahead of our but missed consensus estimates – at 51% and 46% of FY24F earnings. The stronger- than-expected results were driven by sustained demand for healthcare services, better case-mix of more acute patients, and timely price adjustments to counter against inflation. We continue to like IHH Healthcare due to its reputable regional footprint across key regions, expansion pipeline (+33% bed capacity by 2028), and resilient demand for healthcare services.

Analyst:
Oong Chun Sung 
[%mhdj%]

$KLSE-IHH 
Research by RHB
Buy - TP RM8

"Advancing Towards a New Level Of Success; Stay BUY"

Stay BUY, with higher MYR8 TP (SOP) from MYR7.90, 27% upside. 1H24 core earnings of MYR839.8m were slightly ahead of our but missed consensus estimates – at 51% and 46% of FY24F earnings. The stronger- than-expected results were driven by sustained demand for healthcare services, better case-mix of more acute patients, and timely price adjustments to counter against inflation. We continue to like IHH Healthcare due to its reputable regional footprint across key regions, expansion pipeline (+33% bed capacity by 2028), and resilient demand for healthcare services.

Analyst:
Oong Chun Sung 
chun.sung@rhbgroup.com