Measures
• RM36b compared to RM32.4b in Budget 2022 set aside for Health Ministry.
• RM4.9b to provide medicines, reagents, vaccines and consumables.
• RM1.8b to build hospitals, clinics, new facilities and procurement of medical equipment.
• RM420m to repair dilapidated hospitals and clinics.
• RM20m allocated to the Malaysia Healthcare Travel Council to promote health tourism.
• RM25m to treat rare diseases.
• RM80m for Socso health screening programme.
• RM80m for the PEKA B40 programme.
• RM15m for Agenda Nasional Malaysia Sihat programme to encourage healthier lifestyles.
• RM11m for subsidies for mammograms and cervical cancer screening.
• RM10m to purchase 3D printing machines for dental health services.
• The government will set up a mental health centre of excellence.
Comments
• The majority of the incentives directly benefit the public healthcare, with little impact on the private healthcare sector.
Beneficiaries
• We believe PHARMA (MP; TP: RM0.59) is expected to benefit from the allocation for purchase of medicines, and capitalise on newly build hospitals as its potential customers over the longer term.
• We are neutral on the allocation for the Malaysia Healthcare Travel Council because it is not expected to benefit both KPJ (MP; TP: RM0.87) and IHH (OP; TP: RM7.20) materially as medical tourism only contributes around 3– 5% of their revenue in Malaysia
Source: Kenanga Research - 8 Oct 2022
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PHARMA2024-09-24
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PHARMA2024-09-23
IHH2024-09-23
PHARMACreated by kiasutrader | Oct 04, 2024
Created by kiasutrader | Oct 02, 2024