[%ZqoD%] 
Research by RHB
BUY – TP RM 8.00

" Expanding Its Footprint In The Pearl Of The Orient; BUY”

IHH Healthcare entered into a sale and purchase agreement with Comprehensive Care (CCSB) for the proposed acquisition of Island Hospital Penang (IHSB) for a total cash consideration of MYR3.9bn. We see positive synergies from the acquisition considering IHSB’s superior margin profile, promising growth prospect, and synergistic value creation in fortifying IHH Penang’s operation. We incorporate 0% ESG for IHH based on our in-house ESG scoring framework given its ESG score is the same as the country median. 

Analyst:
Oong Chun Sung
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$KLSE-IHH 
Research by RHB
BUY – TP RM 8.00

" Expanding Its Footprint In The Pearl Of The Orient; BUY”

IHH Healthcare entered into a sale and purchase agreement with Comprehensive Care (CCSB) for the proposed acquisition of Island Hospital Penang (IHSB) for a total cash consideration of MYR3.9bn. We see positive synergies from the acquisition considering IHSB’s superior margin profile, promising growth prospect, and synergistic value creation in fortifying IHH Penang’s operation. We incorporate 0% ESG for IHH based on our in-house ESG scoring framework given its ESG score is the same as the country median. 

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