Sime Expanding Healthcare Ops (The Star)

KUALA LUMPUR, 22 October 2008 - Sime Darby Bhd plans to weather the brewing economic storm by expanding its healthcare business and venturing into China.

“The healthcare industry provides a steady cash flow business and would, to some extent, cushion the economic impacts,” executive vice-president, group strategy and business development Hisham Hamdan said.

In tandem with this launch, all entities under Sime Darby Healthcare will be realigned and renamed, he told reporters after the launch of the group’s new business unit, Sime Darby Healthcare, yesterday.

Sime Darby Healthcare Supervisiory Committee chairman Tan Sri Dr Wan Mohd Zahid Wan Nordin said while the group enhanced its presence in Malaysia, it would also be looking for opportunities in emerging markets.

With the group operating in over 20 countries, there was opportunity for the healthcare business to establish in some of these countries, he said.

Sime Darby Healthcare comprises a medical centre, a specialist centre and a nursing college.

Wan Zahid said there were plans to build a healthcare centre in Desa Park City next year.

With the recent rebranding exercise whereby the group spent about RM3mil, Subang Jaya Medical Centre is now known as Sime Darby Medical Centre Subang Jaya, Megah Medical Specialists Group is Sime Darby Specialist Centre Megah and the SJMC Academy of Nursing and Health Sciences is now Sime Darby Nursing & Health Sciences College.

For the financial year ended June 30, Sime Darby Healthcare registered a revenue of RM250mil and a net profit of RM20mil. Its contribution to the group was less than 10%.

The healthcare unit’s chief executive officer Elaine Cheong said on average the unit had expanded by 8% year-on-year.

She said plans were also under way to expand Sime Darby Nursing & Health Sciences College’s intake and courses offered. Currently, the college caters the nursing personnel needs within the group. The college plans to apply for university college status and offer other Allied Health courses next year.

“Our nurses are in great demand by other outfits, particularly in the Middle East,” she said, adding that the intake was expected to go up to 500-600 from the present 200 with increasing demand for nursing personnel.

Sime Darby Healthcare "We Care, We Serve"