TMC Life Sciences Bhd, which was the top gainer on its Mesdaq debut yesterday, scored a 53.5 sen premium over its initial public offer price of 38 sen per share.
The counter opened at 70 sen and closed at 91.5 sen, with 18.546 million shares traded, recording the second highest volume for the day.
Chairman Professor Emeritus Datuk Dr Khalid Abdul Kadir said the group’s key growth drivers included health tourism, where it offered cost-effective fertility treatment services to customers from countries as far as the Middle East and Japan.
“We have been in close partnership with the relevant Government authorities to encourage health tourism by participating in promotional activities in various countries,” he said.
He added that the group believed the setting up of a dedicated Health Tourism Unit would contribute to these efforts, and be beneficial to the overall economy.
Dr Khalid said this to reporters after TMC's listing ceremony in Kuala Lumpur.
Since November 2003, TMC, together the Health and Tourism Ministries, has been jointly promoting the country’s healthcare facilities to neighbouring countries such as Indonesia, Singapore, Vietnam and Bangladesh.
Under Budget 2006, the Government announced the setting up of a Health Tourism Unit under the Health Ministry to improve the quality of health services and attract more foreigners to seek private health services in Malaysia.
Efforts would also be focused on gaining international recognition for the health services offered by local private hospitals.
The Government also announced the allocation of RM100mil for the initial launch of the Malaysian Life Sciences Capital Fund for investment in biotechnology.
Dr Khalid said the development of a fund for this industry showed the Government’s earnestness to make Malaysia a biotechnology and life sciences hub in the region.
With the completion of its listing exercise, TMC has enlarged its share capital to RM16.8mil.
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