From left: Hong Chong Chet, LAC Med deputy CEO; Goh Teck Hong, independent non-executive director; Giam Teck Eng, substantial shareholder; Kevin Davies, CEO, RHB Investment Bank Bhd; Liew Yoon Poh, LAC Med group CEO; Liew Yoon Kit, non-independent non-executive chairman; Teoh Chu Lin, Alliance Bank Malaysia Bhd group chief corporate and institutional banking officer, Chan Yue Mun, LAC Med non-independent non-executive director; Datuk Ng Wan Peng, senior independent non-executive director; Lim Su May, independent non-executive director; and Thean Yain Peng, chief financial officer
KUALA LUMPUR: LAC Med Bhd
made a steady debut on the Main Market of Bursa Malaysia yesterday, opening unchanged at its initial public offering (IPO) price of 75 sen amid brisk early trading.
About 5.8 million shares changed hands in the first session, following strong demand during its IPO exercise.
The healthcare products distributor saw its public portion oversubscribed 12.64 times, including 10.85 times for the bumiputra tranche and 14.43 times for non-bumiputras, reflecting solid retail interest.
Group chief executive officer Liew Yoon Poh described the flat opening as a stable start and a foundation for longer-term value creation.
“We remain positive about the prospects ahead. This is just the beginning, with much more to come, and we are excited about the opportunities moving forward,” he said at a press conference after the listing ceremony.
A key pillar of LAC Med’s growth strategy is Indonesia, where the company has already begun operations.
Revenue recognition started in the final quarter of this year, with Liew projecting a full-year contribution in 2026.
He said Indonesia would be treated as a dedicated business segment alongside Malaysia, offering higher profit margins despite rising operating costs.
The company plans to ease into the new market with measured expectations.
“We are taking baby steps, aiming for a single-digit market share in the first one to two years, and gradually growing from there. Given the size of the Indonesian market, even a single-digit share is significant,” Liew said.
Earnings over the next two years will also be supported by a wider product portfolio.
Liew noted that LAC Med has expanded from two principals to 11, which he expects to drive both sales and profitability.
The company has earmarked RM8mil for its Indonesian rollout.
Initial efforts focus on Jakarta, with plans to expand into Sumatra and Kalimantan as internal benchmarks are met.
“We are expanding our branches on a milestone basis, meaning that once internal targets are achieved, we will start opening them,” Liew said.
LAC Med ended yesterday’s trading up 2% to 76.5 sen per share.
