PETALING JAYA: UEM Edgenta Bhd is aiming for an annual revenue growth of 12% for the next five years driven by its healthcare segment, overseas expansion, and digitalisation.
Its managing director chief executive officer, Syahrunizam Samsudin said the group's plans to move away from a concession-based business model into commercial businesses remained intact.
“Our aim is to achieve a 50:50 contribution from concession and commercial businesses,” he told reporters at UEM Edgenta press briefing on Wednesday.
He said the group had been focusing on its healthcare business as it estimated that the digitalisation of the healthcare sector would be accelerated in the coming years with an estimated 15% compounded annual growth rate globally.
"This diversification will involve us going into a new market with Saudi Arabia as its target for this year and to push our healthcare business forward,” he added.
Towards this end, Syahrunizam said Edgenta is working with the Ministry of Health for a digitalise home quarantine management system that would include e-bracelets, construction of eight Field Hybrid Intensive Care Unit (ICU) facilities, and COVID-19 business solutions focused on workplace safety & health.
The initiatives are part of UEM Edgenta’s transformation strategy, namely the Edgenta of the Future 2025 (EoTF25), which features a fundamental shift towards a highly sustainable and future-proof business model.
EoTF25 focuses on three pillars -- diversifying markets, driving cost efficiency, and disrupting the industry with new products and services.