PETALING JAYA: Topvision Eye Specialist Bhd
will continue prioritising expansion within Malaysia, as it sees growth potential in a number of strategic locations.
Executive vice-chairman Dr Peter Chong Kuok Siong said while the group is open to international expansion opportunities, Malaysia will remain the core focus.
“There are many locations that we see as having good potential. For instance, we will mark our first foray into East Malaysia by opening up a centre in Tawau, Sabah.
“Tawau currently does not have any eye specialist centres, or private eye healthcare providers,” he told reporters at a virtual press conference following the group’s debut on the ACE Market of Bursa Malaysia yesterday.
He said TopVision will also be opening another eye centre in Kuala Terengganu.
Chong added that part of the group’s strategy to maintain market share is to expand into underserved or greenfield locations across Malaysia.
The group believes that by bringing a network of eye centres closer to patients in need, this will differentiate it from other eye care providers.
Since its establishment in 2010, TopVision has built an experienced management team, enabling it to become one of the fastest-growing networks of eye specialist centres in Malaysia.
The group currently operates 20 healthcare centres, with three more in the pipeline, including the ones in Kuala Terengganu and Tawau.
“In line with our expansion plans, the TopVision International Eye Specialist Centre in Petaling Jaya will now serve as our new headquarters, incorporating the latest technology and offering a new segment of services that was not previously provided by TopVision,” Chong said.
He noted that the expansion will include not only basic obstructive surgeries, but also more complex procedures requiring general anesthesia, as well as care for the pediatric population.
Ching highlighted that Malaysia’s growing and ageing population will drive significant demand for eye care services.
“If you look at the statistics for 2024, 7.7% of our population in Malaysia are aged 65 and above. By 2040, this number will double to 14%.”
He emphasised the growing demand for eye care, especially for cataract surgeries and conditions linked to comorbidities like hypertension, diabetes and extended screen time.
Additionally, Chong said TopVision plans to boost revenue through medical tourism, particularly from Indonesian patients.
While capital expenditures have compressed profits, the group is implementing strategies to improve margins.
The group successfully debuted on the ACE Market at 39 sen yesterday, an 18% premium over its initial public offering (IPO) price of 33 sen.
At 5pm, the company closed 3.03% higher at 34 sen.
The group plans to utilise RM7.9mil of the RM17.89mil raised from its IPO to establish the TopVision International Eye Specialist Centre, while RM5mil will be allocated for the new centres in Kuala Terengganu and Tawau.
Executive vice-chairman Datuk Kenny Liew Hock Nean said TopVision’s strong opening price reflected its competence and investor confidence – a testament to the group’s solid business model, track record and potential in the healthcare sector.
“We will continue to focus on delivering better (value) to our shareholders by executing our growth strategies and maintaining our commitment to sustainability and innovation,” he said.
Regarding dividends, Chong noted that while TopVision does not have a formal dividend policy yet, it is focused on rewarding shareholders and investors who have supported the group.
“This year, no dividend was declared due to the expansion and IPO exercise, but we believe our cash flow, debt-to-equity ratio, and positive net value will enable us to reward shareholders in the future.”
Regarding government regulations on healthcare charges, Chong stated that TopVision will comply with all standards and procedures, remaining committed to providing quality services.
