Country Heights Plans TCM Healthcare Hub
Country Heights Holdings is planning to set up a heathcare hub that focuses on traditional Chinese medicine (TCM). Sharing insights on the plan, founder Tan Sri Lee Kim Yew said that the hub would be located in Kuala Lumpur or Sarawak and would comprise a 300-bed hospital, a university and a college. “Malaysia needs a good hospital so the public can seek treatment using Chinese medicines and methods from acupuncture to cupping,” remarked Lee. In a bid to diversify from the property to the healthcare business, the group has so far set up a traditional Chinese and healthcare centre at Golden Horses Health Sanctuary in Sri Kembangan.
Significance: In recent years, many Malaysians have made trips to China to seek TCM treatment. This represents an opportunity that Country Heights is keen to seize, with the group hoping to set up 10 wellness centres domestically and in Southeast Asia.
Kelington Finds Support From Diversified Client Base
Kelington Group, a provider of ultra high purity gas and chemical delivery systems, remains positive on achieving good growth despite registering a lower profit margin in the previous financial year due to the global economic slowdown. Specifically, the group saw its profit margin declined to 6.2 percent for the year ended 31 December 2011 from 10.1 percent a year ago. Nevertheless, its revenue and pre-tax profit increased by 65.3 percent to RM139.7 million and 13.6 percent to RM9.8 million respectively. With its customer base well-diversified across the biotechnology, electronics, industrial gas, semiconductor, solar, TFT-LCDs, and wafer fabrication industries, the group is thus able to shift focus from the slowing sectors to the booming ones.
Significance: For the first five-month of the year, Kelington has secured orders worth a total of RM73 million and is in bid for contracts valued at approximately RM400 million. Given that the group has traditionally secured about 25 percent of its bids, it expects to achieve a better performance this year.
Maybank Expands Overseas Mortgage Loan Scheme To Melbourne
Malayan Banking (Maybank) is expanding its Overseas Mortgage Loan Scheme for purchase of residential properties to Melbourne, Australia. Under the scheme, purchases of completed or off plan residential properties developed in Melbourne by Malaysian and Australian developers will be able to seek financing in ringgit in the form of term loan, overdraft or a combination of both. “The right investment property in Melbourne offers great returns and exceptional growth potential,” commented Maybank deputy president and head of community financial services Lim Hong Tat. Specifically, the Australian market has grown by an average of 9.1 percent per annum on average for the past 10 years. With this scheme, Malaysians purchasing properties in Melbourne will no longer be exposed to foreign currency exchange fluctuations when making monthly loan repayments.
Significantly: The scheme was first introduced in January this year for properties purchases in London, with new loans approved under the portfolio exceeding RM260 million as at May. On the new facility, Maybank expects a take-up of RM300 million in next 12 months and would help the bank to achieve double-digit growth for its home financing business.