SINGAPORE (Mar 5): IHH Healthcare is planning to spend RM3 billion ($1.01 billion) in capital expenditure from 2018 to 2020, as it keeps one eye fixed on acquisitions and new developments in three markets — China, India and Malaysia.

The immediate focus for the healthcare company, however, is to better address the cost challenges faced by its new operations in Hong Kong and Turkey last year, says group managing director Dr Tan See Leng.

Speaking during a conference call for IHH’s financial year 2017 (FY2017) results briefing on Feb 27, Tan says IHH’s balance sheet — with a hefty cash balance of around RM6.08 billion as at the end of December 2017 and gearing of 0.31 times — is ripe for the group to execute its expansion plans.

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