PMCK Berhad (PMCK), a healthcare services provider in Northern Malaysia, has gained the approval of Bursa Malaysia Securities Berhad (Bursa Securities) to list on the ACE Market of Bursa Securities.
This milestone underscores PMCK’s strategic focus on expanding its footprint through the development of PMC Kulim, a state-of-the-art private medical centre and mixed-use facility in Kedah, poised to address critical gaps in regional healthcare access.
The IPO comprises 272.6 million new shares (25% of enlarged issued share capital), with proceeds allocated for:
1. Repayment of bank borrowings for PMC Kulim’s construction
2. Acquisition of equipment for PMC
3. Estimated expenses related to the listing exercises
“PMC Kulim is not just a hospital. We are a holistic ecosystem designed to elevate healthcare accessibility in the region,” said PMCK Berhad Managing Director, Dato’ Lee Gaik Cheng. “This listing enables us to accelerate our vision while maintaining financial discipline through strategic partnerships and streamlined operations.”
PMCK reported robust FYE 2024 performance, with revenue rising to RM104.34 million (FYE 2023: RM99.85 million) and net profit climbing almost 40% to RM15.02 million, reflecting strong demand for its specialist consultant services and healthcare support services. The company’s existing PMC in Alor Setar has treated over between 115,000 patients and 128,000 patients over the past three FYEs 2022 to 2024, supported by 40 specialist consultants across 17 specialisations.
Post-listing, PMCK will consolidate its other businesses in Kulim (Poliklinik Unik and Klinik Pergigian Unik) under PMC Kulim to enhance operational efficiency. The project’s mixed-use component is also expected to diversify revenue streams, contributing to long-term sustainability.
“Our goal is to bridge the healthcare divide in the Northern region of Malaysia,” added Dato’ Lee. “The approval for our listing marks a significant milestone for PMCK Berhad and we are now poised to deliver world-class care closer to home.”
Malacca Securities is the IPO’s principal adviser, sponsor, underwriter, and placement agent.
The listing will propel PMCK’s RM193 million PMC Kulim project, a 12-storey medical centre integrated with a seven-storey mixed-use development (hotel, food court, and amenities). Slated for completion in Q1 2028, the facility will feature:
- 90 in-patient beds (single and double rooms only), one endoscopic suite, one operating theatre, two labour rooms, two nursery units, and 15 specialist consultation clinics.
- Strategic amenities for patients’ families and the public, managed by a third-party operator to ensure operational focus on healthcare.
The project targets underserved populations in Kulim, Bandar Baharu, and neighbouring districts, where private healthcare infrastructure remains sparse.
With only 7.72 private hospital beds per 10,000 persons in Northern Malaysia (versus 17.71 in Kuala Lumpur), PMC Kulim aims to alleviate the pressure on existing facilities while tapping into demand from Kulim Hi-Tech Park’s industrial workforce and growing middle-class communities.
