LYC Healthcare Subsidiary LYC Medicare Singapore Limited Prepares to Lodge Offer Document with SGX

Strategic move by the Group to leverage on Singapore market on brand enhancement

KUALA LUMPUR, 29 MARCH 2024 – LYC Healthcare Berhad (“LYC Healthcare” or the “Group”), an established provider of comprehensive healthcare and specialist in mother and child care services, is thrilled to announce that its 64.5% owned subsidiary, LYC Medicare Singapore Limited (“LYC Medicare Singapore”) has lodged the preliminary offer document with the Singapore Exchange Limited (“SGX”) Catalist Board. This pivotal step, guided by Evolve Capital Advisory Private Limited as the Sponsor, marks a significant milestone in LYC Healthcare’s strategic expansion and growth trajectory.

The initiative to lodge the offer document for LYC Medicare Singapore highlights LYC Healthcare's adherence to the regulatory standards of SGX. It underscores the Group’s competence in extending its healthcare excellence beyond Malaysian borders, particularly into the vibrant Singapore healthcare market.

This strategic initiative is anticipated to support further growth and expansion plans for LYC Healthcare, enhancing liquidity and access to capital markets. Additionally, it is anticipated to elevate LYC Healthcare’s brand presence in Singapore, fostering greater awareness among consumers and investors in the region.

Mr. Sui Dong Hoe, Manging Director cum Group Chief Executive Officer of LYC Healthcare highlighted: " Lodging LYC Medicare Singapore's offer document with the SGX marks a significant phase in LYC Healthcare's journey. It aligns with our vision to strengthen our brand in the Southeast Asian healthcare landscape. We are eager to embark on this journey, confident that it will enrich our market presence in Singapore and reinforce our commitment to delivering superior healthcare services across the region."

As at 5:00 P.M. 29 March 2024, LYC Healthcare’s share price closed at RM0.185, equivalent to a total market capitalisation of RM128.1 million.