Growth potential big for TMC says chairman


TMC Life Sciences Bhd, which operates fertility clinics, sees much potential for growth in Malaysia for in vitro fertilisation (IVF), an assisted conception treatment. 

TMC chairman Datuk Dr Khalid Abdul Kadir said that 1,600 in vitro fertilisation (IVF) treatment cycles were conducted in the country last year. (TMC accounted for about a third of those.) That, he said, compared with the more than 30,000 such treatments done in Australia, which has a population of about 20 million while Malaysia has about 25 million. 

“This indicates that the Malaysian market has great potential for growth,'' he said after the signing of an underwriting agreement with AmMerchant Bank Bhd for TMC's listing on Bursa Malaysia. 

He added that the company's IVF rates compared well with top IVF centres in Britain and the United States. 

Khalid said the signing of the underwriting agreement was “one of the first baby steps'' towards the group's listing on the local stock exchange. 

TMC, whose flotation is slated for next month, will be the first life sciences company on list on the Mesdaq Market. 

From left: AMSecurities executive director (operations) Lee Yew Kin, AmMerchant Bank MD T.C. Kok, Datuk Sr Khalid Abdul Kadir and TMC MD Dr Colin Lee.

For its initial public offering (IPO) the company is issuing 42.1 million shares at 38 sen each. Of the total, 36.7 million are for private placement, 2.5 million for eligible directors and employees of TMC, and the balance 2.9 million for the public. The company expects to raise RM15.998mil from the IPO. 

“Of the just under RM16mil that will be raised, RM6mil has been earmarked for research and development, with the remainder to be used for purchase of equipment and expansion plans,” said executive director Amos Siew. 

Siew said the company's revenue grew by a compounded rate of 30% from 2000 to 2004. During the period, its after-tax profit expanded by a compounded 80%. 

Besides Damansara Fertility Centre, TMC operates the Damansara Fertility and Women’s Specialist Centre in Johor Baru, and Damansara Women and Fertility Clinic in Kepong. 

The company posted after-tax profit of RM5.6mil on a revenue of RM17mil for the year ended Dec 31, 2004. 

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