KUALA LUMPUR, Sept 29 (Bernama) -- The Malaysian healthcare sector is set for sustained long-term demand growth, underpinned by the growing number of non-communicable diseases (NCDs) and an ageing demographic.
CIMB Securities Sdn Bhd said Malaysia has two hospital beds per 1,000 population against developed countries’ average of 2.5, suggesting there is room for organic expansion over the coming years.
It said in a research note that IHH Healthcare remains the sector's pick with a “Buy” recommendation and target price of RM8.50.
"This is supported by its diversified asset base, which provides a buffer against the challenges posed by Malaysia’s unfavourable regulatory landscape," it said.
As at 9.56 am, IHH's shares were flat at RM7.45 with 264,900 shares traded.
-- BERNAMA
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