ISEC operates eye care centres in Singapore and Malaysia. It’s chief executive is exploring new markets for expansion, including China, Indonesia, Myanmar and Vietnam.
Strong demand for its services in Malaysia and Singapore is behind Singapore-listed eye care service provider ISEC Healthcare’s 10% jump in annual profits.
“Our clinics in our key markets of Singapore and Malaysia observed greater footfall with more patients seeking treatment,” said chief executive Wong Jun Shyan.
In Malaysia, the group operates medical eye care centres in Kuala Lumpur, Malacca, Penang and Sibu. In Singapore, ISEC provides specialist medical ophthalmology services to Lee Hung Ming Eye Centre in Singapore’s Gleneagles Hospital.
“Looking ahead to the next 12 months, we believe the region’s ageing population as well as increasing awareness about the benefits of seeking early treatment for ophthalmology issues will continue to drive demand for the specialised services that we provide. We will continue to search for investment opportunities to strengthen our presence in our existing markets and to explore new markets such as China, Indonesia, Myanmar and Vietnam,” Wong added.
In August last year, ISEC incorporated a joint venture company in Myanmar known as ISEC Myanmar. It did so with three independent third parties, namely technology group Next Tier International Company, local partner Daw Pyae Pyae Thein and palliative care practitioner Khin Khin Win. ISEC holds a 51% stake in the business.