{"id":228023,"date":"2026-01-05T05:52:10","date_gmt":"2026-01-05T05:52:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/228023\/"},"modified":"2026-01-05T05:52:10","modified_gmt":"2026-01-05T05:52:10","slug":"big-gains-likely-for-sunway-shareholders-from-listing-of-healthcare-arm","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/228023\/","title":{"rendered":"Big gains likely for Sunway shareholders from listing of healthcare arm"},"content":{"rendered":"

PETALING JAYA: Monetary proceeds from the impending listing of Sunway Healthcare Holdings (SHH) is expected to be redeployed to Sunway Bhd<\/a><\/a>\u2019s other profitable divisions, including the property sector.<\/p>\n

According to Hong Leong Investment Bank Research (HLIB Research), the proceeds that SHH\u2019s main shareholder Sunway will accrue is potentially close to RM900mil and this can be redeployed into higher-return opportunities across the group.<\/p>\n

It noted of the most visible redeployment pathway at the moment is into the group\u2019s property segment.<\/p>\n

Potential capital infusion here could accelerate the build-up of strategic assets in the Sunway City Iskandar Puteri or SCIP township and at its Rapid Transit System transit-oriented development or RTS TOD at Bukit Chagar, Johor, it said.<\/p>\n

SHH is expected to be listed on Bursa Malaysia by March 2026.<\/p>\n

This will see Sunway\u2019s stake in SHH being diluted from 84% to about 69.5%, HLIB Research said.<\/p>\n

Currently, Greenwood Capital Pte Ltd, a unit of Singapore\u2019s sovereign wealth fund Government of Singapore Investment Corp, owns a 16% interest in SHH, pre-listing.<\/p>\n

\u201cLooking ahead to the financial year 2026 (FY26), we still expect the group to deliver earnings growth post-SHH listing, supported by its newly opened hospitals turning profitable, as well as strong double-digit growth in Sunway\u2019s property segment,\u201d it said.<\/p>\n

\u201cOn a pro-forma basis, the sum-of-parts derived valuation for Sunway post-SHH listing eases to RM5.61 from RM6.05, although the eventual roll-over of valuation base year from FY26 to FY27 should partially mitigate the dilution impact,\u201d it added.<\/p>\n

The research house maintained its \u201cbuy\u201d call on Sunway.<\/p>\n

On the potential accounting impact to the larger group, HLIB Research noted that a move from equity accounting to a consolidation style post-listing of SHH should enhance transparency and highlight the true scale of its healthcare operations within the group.<\/p>\n

\u201cDespite Sunway owning a majority stake of 84% in SHH, SHH financials are equity accounted. This is because its strategic partner jointly makes strategic decisions for SHH. However, post-listing, SHH will be a subsidiary of Sunway and hence, SHH financials will be consolidated.<\/p>\n

\u201cConsolidation will disclose SHH\u2019s revenue and profits line-by-line in Sunway\u2019s profit and loss statements,\u201d it said.<\/p>\n

Given the present dynamics, the research house does not expect any earnings dilution in FY26 for the group despite the SHH listing, but instead it expects Sunway to continue delivering earnings growth into FY26, driven by both healthcare and property momentum.<\/p>\n

Meanwhile, HLIB Research estimated the dividend-in-specie that will soon be paid out following its listing will carry a value of about 18 sen per Sunway share, translating into a 3.2% yield.<\/p>\n

\u201cTogether with our projected FY26 cash dividend of 10.7 sen per share, this implies a total projected FY26 dividend yield of about 5.1%,\u201d it said.<\/p>\n

Sunway will distribute SHH shares to its shareholders via a dividend-in-specie on the basis of one SHH share for every ten Sunway shares held, with the entitlement date to be determined later.<\/p>\n","protected":false},"excerpt":{"rendered":"PETALING JAYA: Monetary proceeds from the impending listing of Sunway Healthcare Holdings (SHH) is expected to be redeployed…\n","protected":false},"author":2,"featured_media":228024,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[116970,103,397,396,61,60,94966,116972,116971],"class_list":{"0":"post-228023","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-healthcare","8":"tag-corporate-news","9":"tag-health","10":"tag-health-care","11":"tag-healthcare","12":"tag-ie","13":"tag-ireland","14":"tag-listing","15":"tag-shh","16":"tag-sunway"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/228023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=228023"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/228023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/228024"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=228023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=228023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=228023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}