DailySpaceIHH Healthcare Berhad
5225 · Main Market主板 · annual reports 2023 to 2025, 602 entries read2023 至 2025 年报，共读出 602 条
The company这家公司
IHH Healthcare Berhad is an international healthcare services provider with hospital networks and healthcare facilities across Türkiye and Europe, Singapore, Malaysia, India, and Greater China.IHH Healthcare Berhad 是一家国际医疗服务供应商，在土耳其与欧洲、新加坡、马来西亚、印度和大中华区拥有医院网络及医疗设施。
Source: annual report 2023, page 193.出处：2023 年年报第 193 页。
In 2023, more than 45% of Acibadem's revenue was from foreign medical travellers seeking treatment in Türkiye, and from its European operations.2023 年，Acibadem 超过 45% 的营业额来自在土耳其寻求治疗的外籍医疗旅客以及其欧洲业务。
Source: annual report 2023, page 40.出处：2023 年年报第 40 页。
MBK Healthcare Management Pte Ltd holds 2,888,487,400 shares (32.69%), deemed to Mitsui & Co., Ltd. Pulau Memutik Ventures Sdn Bhd holds 2,284,536,356 shares (25.85%), deemed to Khazanah Nasional Berhad. The Employees Provident Fund Board holds 1,140,645,100 shares (12.91%).MBK Healthcare Management Pte Ltd 持有 2,888,487,400 股（32.69%），视为由 Mitsui & Co., Ltd 拥有。Pulau Memutik Ventures Sdn Bhd 持有 2,284,536,356 股（25.85%），视为由 Khazanah Nasional Berhad 拥有。Employees Provident Fund Board 持有 1,140,645,100 股（12.91%）。
Source: annual report 2025, page 275.出处：2025 年年报第 275 页。
Mehmet Ali Aydinlar holds 7,948,000 shares (0.09%) directly and has a deemed interest in 507,221,573 shares (5.74%) through his wife Hatice Seher Aydinlar and through SZA Gayrimenkul Yatırım İnşaat ve Ticaret Anonim Sirketi, which holds 500,221,573 shares (5.66%). A shareholders' agreement dated 23 December 2011 was entered into among the company, Integrated Healthcare Hastaneler Turkey Sdn Bhd, Bagan Lalang Ventures Sdn Bhd, Hatice Seher Aydinlar and Mehmet Ali Aydinlar. In the 2023 report, the company stated that none of the directors had any family relationships with any directors or major shareholders.Mehmet Ali Aydinlar 直接持有 7,948,000 股（0.09%），并通过其妻子 Hatice Seher Aydinlar 以及持有 500,221,573 股（5.66%）的 SZA Gayrimenkul Yatırım İnşaat ve Ticaret Anonim Sirketi 视同持有 507,221,573 股（5.74%）。公司、Integrated Healthcare Hastaneler Turkey Sdn Bhd、Bagan Lalang Ventures Sdn Bhd、Hatice Seher Aydinlar 与 Mehmet Ali Aydinlar 于 2011 年 12 月 23 日订立了股东协议。在 2023 年年报中，公司声明董事之间或与主要股东之间均无任何亲属关系。
Source: annual report 2023, page 79; annual report 2025, pages 272, 275.出处：2023 年年报第 79 页；2025 年年报第 272、275 页。
Executive leadership changes included Dr Prem Kumar Nair stepping into the role of Group Chief Executive Officer on 1 October 2023. Executive Director Dr Kelvin Loh Chi-Keon resigned on 22 February 2023. Mr Dilip Kadambi was appointed Group Chief Financial Officer as of 5 April 2024. Ms Shahida Jaffar was appointed to the board on 17 September 2025; the 2025 report also records the resignation of Mr Lim Tsin-Lin, without a date.高管层变动包括 Dr Prem Kumar Nair 于 2023 年 10 月 1 日出任集团首席执行官。执行董事 Dr Kelvin Loh Chi-Keon 于 2023 年 2 月 22 日辞职。Mr Dilip Kadambi 于 2024 年 4 月 5 日获委任为集团首席财务官。Ms Shahida Jaffar 于 2025 年 9 月 17 日获委任加入董事会；2025 年年报另载 Mr Lim Tsin-Lin 辞职，未注明日期。
Source: annual report 2023, pages 27, 97; annual report 2025, pages 69, 119.出处：2023 年年报第 27、97 页；2025 年年报第 69、119 页。
Revenue by segment, 20232023 年各分部营业额占比
Source: annual report 2023, page 193.出处：2023 年年报第 193 页。
Major events大事记
Source: annual report 2023, page 29.出处：2023 年年报第 29 页。
Source: annual report 2023, page 31.出处：2023 年年报第 31 页。
Source: annual report 2023, page 27.出处：2023 年年报第 27 页。
Source: annual report 2023, page 250; annual report 2024, page 213.出处：2023 年年报第 250 页；2024 年年报第 213 页。
Source: annual report 2024, page 32.出处：2024 年年报第 32 页。
Source: annual report 2024, page 46; annual report 2025, page 153.出处：2024 年年报第 46 页；2025 年年报第 153 页。
Source: annual report 2024, page 32; annual report 2025, page 46.出处：2024 年年报第 32 页；2025 年年报第 46 页。
Source: annual report 2025, page 243.出处：2025 年年报第 243 页。
Source: annual report 2025, page 239.出处：2025 年年报第 239 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Total assets, equity and borrowings总资产、权益与借款
20232023 年
The sale of IMU was completed in the first quarter of 2023 at RM1.2 billion, with net cash inflow from disposal of subsidiaries of RM1,180.5 million. Purchase of property, plant and equipment took RM1,870.6 million. Proceeds from loans and borrowings were RM6,925.8 million against repayments of RM7,395.7 million, leaving total loans and borrowings at RM8,311.4 million. Dividends paid to owners of the Company took RM1,770.2 million. The report states FY2023 PATMI increased 91% to RM3.0 billion, but statements note the disposal of IMU Health Sdn. Bhd. gave a gain on disposal of RM872.5 million; PATMI excluding exceptional items fell 7.4% (from RM1,380.7m to RM1,279.2m) while the gain on disposal of subsidiaries was RM991.5m. The report also states ROE reached 10.7% as at end December 2023, but without the RM991.5m disposal gain, PATMI of about RM1,960m over average equity of RM27,649m is about 7.1%. The report states cash position will help meet working capital and capital expenditure needs in the immediate term, but statements show net current liabilities of RM743,907,000 as at 31 December 2023, with cash falling RM3,663.5m to RM2,379.1m.IMU 的脱售于 2023 年第一季度完成，作价 RM1.2 billion，脱售子公司所得现金净额为 RM1,180.5 million。购买物业、厂房及设备支出 RM1,870.6 million。贷款与借款提取 RM6,925.8 million，偿还 RM7,395.7 million，期末贷款与借款总额为 RM8,311.4 million。向公司所有者支付股息 RM1,770.2 million。年报称 2023 财年 PATMI 增长 91% 至 RM3.0 billion，但报表附注显示脱售 IMU Health Sdn. Bhd. 产生处置收益 RM872.5 million；剔除特殊项目后 PATMI 下跌 7.4%（由 RM1,380.7m 降至 RM1,279.2m），脱售子公司收益为 RM991.5m。年报还称截至 2023 年 12 月底 ROE 达 10.7%，但若剔除 RM991.5m 处置收益，PATMI 约 RM1,960m 相对平均权益 RM27,649m 约为 7.1%。年报称现金结余有助于满足近期营运资金及资本支出需求，但报表显示截至 2023 年 12 月 31 日流动负债净额达 RM743,907,000，现金减少 RM3,663.5m 至 RM2,379.1m。
Source: annual report 2023, pages 29, 45, 136, 148, 149, 152, 182.出处：2023 年年报第 29、45、136、148、149、152、182 页。
20242024 年
Acquisitions of subsidiaries and businesses took net cash of RM4,159 million, including Island Hospital, while purchase of property, plant and equipment took RM3,129 million. Proceeds from loans and borrowings were RM8,672 million, including a RM4 billion unrated Sukuk, while repayments were RM3,575 million, taking total loans and borrowings to RM12,926 million. Dividends paid to owners of the Company were RM881 million. At year end, net current liabilities stood at RM2,705 million. The report states total ordinary dividend of 10.0 sen per share represents a payout ratio of 40% of PATMI, exceeding its revised dividend policy requirement of 30%, but statements show basic earnings per share of 30.17 sen, giving a payout of 33% (RM882m of RM2,657m PATMI), while PATMI excluding exceptional items of RM1,685m gives 52%.收购子公司及业务耗费现金净额 RM4,159 million（包括 Island Hospital），购买物业、厂房及设备支出 RM3,129 million。贷款与借款提取 RM8,672 million（包括 RM4 billion 的无评级伊斯兰债券），偿还 RM3,575 million，贷款与借款总额增至 RM12,926 million。向公司所有者支付股息 RM881 million。年末流动负债净额为 RM2,705 million。年报称每股 10.0 仙的普通股息代表 40% 的 PATMI 派息率，高于修订后 30% 的股息政策要求，但报表显示每股基本盈利为 30.17 仙，实际派息率为 33%（RM2,657m PATMI 中派发 RM882m），若以剔除特殊项目后的 PATMI RM1,685m 计算则为 52%。
Source: annual report 2024, pages 29, 46, 137, 140, 167, 185.出处：2024 年年报第 29、46、137、140、167、185 页。
20252025 年
Purchase of property, plant and equipment took RM3,446 million, and cash spent on acquisitions of subsidiaries and a business was RM293 million, net of cash and cash equivalents acquired. An 80% equity stake in Bayindir Healthcare was acquired for a total consideration of USD55 million (RM231 million), and Fortis Hospotel Limited acquired the business of Shrimann Hospital for INR4,684 million (RM229 million). Acquisition of non-controlling interests took RM687 million. Proceeds from loans and borrowings were RM6,664 million against repayments of RM5,670 million, leaving total loans and borrowings at RM13,332 million. Dividends paid to owners of the Company took RM927 million, while proceeds from exercise of share options brought RM136 million. Net current liabilities stood at RM4,737 million. The report states the Fortis mandatory tender offer further strengthens its position to expand the network, but statements show the Group's interest in Fortis remained materially unchanged at 31.17% (while Malar increased from 62.71% to 62.73%), having bought about RM14,000 of shares. The report states reported PATMI declined 21% to RM2.1 billion primarily due to unrealised foreign exchange translation losses from a stronger Ringgit, but statements show profit or loss foreign exchange differences were a RM33m gain, with drop coming from MFRS 129 and deferred tax (MFRS 129 profit of -229 vs +258).购买物业、厂房及设备支出 RM3,446 million，收购子公司及业务扣除所购现金及现金等价物后耗费现金 RM293 million。Bayindir Healthcare 80% 股权以总代价 USD55 million（RM231 million）收购，Fortis Hospotel Limited 以 INR4,684 million（RM229 million）收购 Shrimann Hospital 的业务。收购非控股权益支出 RM687 million。贷款与借款提取 RM6,664 million，偿还 RM5,670 million，贷款与借款总额为 RM13,332 million。向公司所有者支付股息 RM927 million，行使股票期权所得款项为 RM136 million。流动负债净额达 RM4,737 million。年报称 Fortis 强制全面要约进一步巩固了其拓展网络的地位，但报表显示集团在 Fortis 的权益基本维持在 31.17% 不变（Malar 权益由 62.71% 升至 62.73%），购入约 RM14,000 的股份。年报称报告 PATMI 下跌 21% 至 RM2.1 billion 主要是因为令吉走强带来的未实现外汇折算损失，但报表显示损益表中的汇兑差额为收益 RM33m，利润下降源自 MFRS 129 调整及递延所得税（MFRS 129 损益为 -229 对比 +258）。
Source: annual report 2025, pages 35, 37, 167, 170, 198, 219, 239, 241, 243.出处：2025 年年报第 35、37、167、170、198、219、239、241、243 页。
Across the three years三年合看
Total loans and borrowings rose from RM8,312 million at end 2023 to RM12,926 million in 2024 and RM13,332 million in 2025. Debt-to-equity ratio was 0.24 before rising to 0.39 in 2024 and 0.41 in 2025. Total ordinary dividend declared per share increased from 9.0 sen for FY2023 to 10.0 sen for FY2024 and 10.5 sen for FY2025, alongside a special dividend of 9.6 sen per share paid in FY2023.贷款与借款总额由 2023 年底的 RM8,312 million 增至 2024 年的 RM12,926 million 及 2025 年的 RM13,332 million。债务权益比率由 0.24 升至 2024 年的 0.39 及 2025 年的 0.41。每股宣布的普通股息由 2023 财年的 9.0 仙增至 2024 财年的 10.0 仙及 2025 财年的 10.5 仙，2023 财年另派发了每股 9.6 仙的特别股息。
Source: annual report 2023, page 27; annual report 2024, pages 29, 167, 209; annual report 2025, pages 33, 198, 239.出处：2023 年年报第 27 页；2024 年年报第 29、167、209 页；2025 年年报第 33、198、239 页。
Still to be spent尚未支出的承诺
Amounts contracted but not provided for were RM1,272 million at end 2023, RM1,088 million at end 2024, and RM892 million at end 2025. The maximum amount committed for the Fortis Open Offer stood at RM1,884 million at end 2023 and RM1,771 million at end 2024, before the offer was completed on 10 November 2025.已签约但未拨备的金额在 2023 年底为 RM1,272 million，2024 年底为 RM1,088 million，2025 年底为 RM892 million。Fortis 开放要约承诺的最高金额在 2023 年底为 RM1,884 million，2024 年底为 RM1,771 million，该要约于 2025 年 11 月 10 日完成。
Source: annual report 2024, page 210; annual report 2025, page 239.出处：2024 年年报第 210 页；2025 年年报第 239 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 17,988,687 | 20,934,837 | 24,383 | 25,745 |
| Profit before tax税前盈利 | 2,217,091 | 4,049,301 | 3,756 | 3,428 |
| Profit for the year年度盈利 | 1,645,142 | 3,390,955 | 3,162 | 2,607 |
| Net cash from operating activities营运活动所得现金净额 | 3,667,643 | 3,759,434 | 4,285 | 5,574 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (1,668,399) | (1,870,649) | (3,129) | (3,446) |
| Dividends paid to owners of the Company已付本公司所有者股息 | (528,162) | (1,770,205) | (881) | (927) |
| Total assets总资产 | 48,467,487 | 50,192,160 | 56,759 | 57,617 |
| Loans and borrowings贷款与借款 | 9,158,780 | 8,311,387 | 12,926 | 13,332 |
| Cash and cash equivalents现金与现金等价物 | 3,663,511 | 2,379,123 | 1,510 | 1,595 |
| Total equity总权益 | 29,159,057 | 32,358,650 | 33,908 | 34,101 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| To double clinical quality indicators from a baseline of 113 in 2022 by 2025到 2025 年将临床质量指标由 2022 年的 113 项基准增加一倍 | The 2024 report stated expectation to reach 236 CQIs by 2025, and the 2025 report aimed to achieve 90% of quality indicators at or above international benchmarks.2024 年年报表示预计到 2025 年达到 236 项指标，2025 年年报则以 90% 质量指标达到或高于国际基准为目标。 Source: annual report 2023, page 8; annual report 2024, page 8; annual report 2025, page 14.出处：2023 年年报第 8 页；2024 年年报第 8 页；2025 年年报第 14 页。 | Unclear不明确 |
| Mount Elizabeth Hospital embarked on a three-year refurbishment projectMount Elizabeth 医院开展为期三年的翻新工程 | Renovation was accelerated in 2024, and in 2025 Project Renaissance was completed with the reopening of all 18 wards.工程于 2024 年加快推进，2025 年完成 Project Renaissance 并重新开放全部 18 个病房。 Source: annual report 2023, page 29; annual report 2024, page 32; annual report 2025, page 36.出处：2023 年年报第 29 页；2024 年年报第 32 页；2025 年年报第 36 页。 | Completed in 20252025 年完成 |
| To construct a new 200-bed tertiary hospital in central Kuching在古晋市中心兴建拥有 200 张病床的新三级医院 | Ground-breaking for Gleneagles Hospital Kuching took place in 2025, with completion scheduled for 2028.古晋鹰阁医院于 2025 年动工，预定于 2028 年完工。 Source: annual report 2023, page 29; annual report 2025, pages 24, 36.出处：2023 年年报第 29 页；2025 年年报第 24、36 页。 | Under construction; scheduled for 2028建设中，预定 2028 年完工 |
| To add close to 4,000 new beds by 2028到 2028 年增加近 4,000 张新病床 | Around 1,000 beds were delivered in FY2024 and more than 1,400 beds in FY2025, while the timeline for adding 4,000 beds was shifted to 2030.2024 财政年度交付约 1,000 张病床，2025 财政年度增加逾 1,400 张病床，而增加 4,000 张病床的时间线推迟至 2030 年。 Source: annual report 2023, page 33; annual report 2024, page 31; annual report 2025, page 36.出处：2023 年年报第 33 页；2024 年年报第 31 页；2025 年年报第 36 页。 | Timeline shifted to 2030时间线推迟至 2030 年 |
| Türkiye solar farm project scheduled for completion in 2025 to generate up to 80% of annual energy needs土耳其太阳能农场项目预定于 2025 年完工，预计供应高达 80% 的年度能源需求 | The solar project started operations in 2025, with full commissioning of the 62MW solar project expected in 2026.该太阳能项目于 2025 年投入运作，62MW 太阳能项目预计于 2026 年全面投产。 Source: annual report 2024, page 19; annual report 2025, pages 23, 128.出处：2024 年年报第 19 页；2025 年年报第 23、128 页。 | Started operations; full commissioning in 2026投入运作，2026 年全面投运 |
| A portion of Acibadem's foreign currency denominated bank borrowings to be fully repaid by mid-2024Acibadem 的一部分外币计价银行借款将于 2024 年中全额偿还 | The later reports cited do not say whether these Acibadem borrowings were repaid.其后引用的年报未说明 Acibadem 的这些借款是否已偿还。 Source: annual report 2023, page 40; annual report 2024, page 176.出处：2023 年年报第 40 页；2024 年年报第 176 页。 | Unclear不明确 |
What the reports leave open年报留下待看的事
- Preparatory proceedings in the claim against Daiichi seeking compensation of INR109.3 billion (RM5.2 billion) are scheduled for 28 April 2026, while the DDA lease termination is pending before the High Court of Delhi, where EHIRCL also challenged a DoHS demand of INR5 billion (RM238 million).向 Daiichi 索偿 INR109.3 billion（RM5.2 billion）的准备程序预定于 2026 年 4 月 28 日进行；DDA 终止租约一事仍在德里高等法院审理中，EHIRCL 亦已在该法院就 DoHS 的 INR5 billion（RM238 million）索款要求提出质疑。
Source: annual report 2025, pages 269, 270.出处：2025 年年报第 269、270 页。
- Transfer pricing tax demands in India for tax assessment years 2013/2014 to 2019/2020 assessed at approximately INR7 billion (equivalent to RM325 million) as at 31 December 2025.印度 2013/2014 至 2019/2020 估税年度的转让定价税务要求，截至 2025 年 12 月 31 日评估约为 INR7 billion（相当于 RM325 million）。
Source: annual report 2025, page 269.出处：2025 年年报第 269 页。
- Net current liabilities stood at RM4,737 million as at 31 December 2025.截至 2025 年 12 月 31 日，流动负债净额为 RM4,737 million。
Source: annual report 2025, page 170.出处：2025 年年报第 170 页。
- Under the Long-Term Incentive Plan approved on 20 January 2026, the company may allot and issue ordinary shares of up to two percent (2%) of total issued ordinary shares.根据 2026 年 1 月 20 日获批的长期激励计划，公司可配发及发行最多占已发行普通股总数 2% 的普通股。
Source: annual report 2025, page 270.出处：2025 年年报第 270 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-11.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-11-11。