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JCG Investment aims for fresh start with ‘health and wealth’ strategy

The Edge Singapore
The Edge Singapore • 5 min read
JCG Investment aims for fresh start with ‘health and wealth’ strategy
(June 3): Ang Kok Huan, interim executive chairman and CEO of JCG Investment Holdings, describes himself as a man of deliberate action. This is because, since he joined the company early this year, he has ensured that the company’s activities and pursui
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(June 3): Ang Kok Huan, interim executive chairman and CEO of JCG Investment Holdings, describes himself as a man of deliberate action. This is because, since he joined the company early this year, he has ensured that the company’s activities and pursuits are conducted with careful consideration and an eye for detail. “For JCG, 2019 is a fresh start — we are entering a brave new world,” he says.

The company was previously known as China Medical (International) Group. In the past half year or so, it underwent a series of corporate exercises. It reconstituted its board of directors and revamped its senior management by recruiting Ang and appointing Violet Seah Sin Yuen as chief financial officer. New shareholders came on board too. The company’s name was also changed to JCG Investment Holdings (representing the company’s core belief in Joy, Credibility and Goodness).

As part of its new strategy of “health and wealth”, JCG is expanding through a string of acquisitions. On April 15, the company completed the acquisition of Brand X Lab, which primarily provides event organisation and promotion services as well as business and management consultancy services. On May 21, the company announced that it was acquiring 51% of Beverly Wilshire Medical Centre, a Malaysia-based medical aesthetics group, for up to RM15.3 million ($5 million).

According to Ang, the acquisition of Beverly Wilshire is part of JCG’s overall strategic plan to rejuvenate its health business. The company has always believed that it has the potential to expand its medical aesthetics and healthcare business, as it is an industry segment in Greater China and Southeast Asia that has strong growth potential. Beverly Wilshire is a highly regarded and well-recognised brand in Malaysia and the region. The seasoned and experienced management team from Beverly Wilshire brings to JCG a strong partner as the company rebrands and rebuilds itself and its businesses.

Besides building upon its health business, JCG is looking to build another strong business pillar in the area of wealth, where it will include real estate-related investment and services. More clarity on this area of business will be announced in due course.

While the acquisitions might look to be from rather different industries, Ang explains that there are two common underlying themes to these new businesses, which he deems “essential pillars” in everyone’s lives — health and wealth. “Our vision is to be the trusted partner in one’s journey in the pursuit of health and wealth. It is our personal and JCG’s corporate motivation as we journey to deliver on this state of balance between one’s health and wealth. We are excited to share that our corporate slogan is ‘Health and Wealth — A Beautiful Journey’,” he says.

What will make it different this time around for JCG? Ang believes the key to success lies in execution — be it in business or in life, it will always be about execution and commitment to excellence.

With the acquisition of Beverly Wilshire, JCG can, among other things, further develop Beverly Wilshire’s existing medical tourism business beyond its current markets to target Chinese tourists. The partnership between JCG and Beverly Wilshire brings together an established medical aesthetics brand and an enterprising group with a significant marketing and business network that will allow JCG to expand beyond the shores of Singapore and Malaysia to tap other fast-growing markets such as China.

According to Ang, healthy-ageing and stem-cell therapies are becoming more popular with growing affluence and greater awareness of the benefits of these treatments. Beverly Wilshire recently incorporated the Beverly Wilshire Medical Academy and Research Centre with a focus on medical research and healthy-ageing therapies. As Malaysia is a favourite destination of Chinese tourists, Beverly Wilshire can tap this ready flow of tourists to provide its best-in-class services.

How does Brand X Lab fit in with the company’s “health and wealth” strategy? Ang says the core capabilities of Brand X Lab synergise with and complement JCG’s existing medical aesthetics and healthcare business. The concierge and referral businesses of Brand X Lab are complementary to the company’s medical aesthetics business and there will be synergy with the product and service offerings of Beverly Wilshire, especially in the area of healthy-ageing and stem-cell therapies, an area that the company is focusing more attention on. Furthermore, the acquisition of Brand X Lab is earnings-accretive.

Looking ahead, JCG endeavours to build a portfolio of businesses that is well positioned to create and enhance shareholder value over the long term in a prudent manner. Ang is optimistic that the company is on track to a turnaround in 2019. “Of course, we will work hard. At the end of the day, the results will show and it shall be a beautiful journey for all of us — our shareholders, our business partners and the directors and staff of the company. Welcome on board.”

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