This article first appeared in The Edge Malaysia Weekly on August 18, 2025 - August 24, 2025

Eye specialist services and products company Optimax Holdings Bhd (KL:OPTIMAX) has seen a steady upward trajectory in its financial performance in recent years as it successfully capitalised on the steady rise in demand from increasingly health-conscious patients, both local and foreign.

From a single clinic in a shoplot in Taman Tun Dr Ismail, Kuala Lumpur, back in 1995, Optimax’s reach now spans the whole of Malaysia and includes a presence in Cambodia. Its current portfolio comprises a specialist hospital, eight satellite clinics and 16 ambulatory care centres, following over two decades of consistent growth. The company’s corporate stature has also seen a swift rise, moving from an ACE Market listing in 2020 to the Main Market just two years later.

The group is founded by Tan Sri Tan Boon Hock, who controls 57.82% of Optimax, of which 27.2% are directly held and 30.62% are held under him and his family’s vehicle, Sena Healthcare Services Sdn Bhd. His daughter Sandy Tan is the group’s CEO.

Listed as one of Malaysia’s 50 richest by Forbes in April with a net worth of US$490 million or RM2.07 billion, Boon Hock, a former police officer, also owns a controlling 53.09% stake in Main Market-listed ITMAX System Bhd (KL:ITMAX) via Sena Holdings Sdn Bhd. He acquired the smart city integrated systems and solutions provider in 2019. The company was listed in December 2022.

Optimax posted a weighted average return on equity (ROE) of 21.5% over the FY2022-FY2024 period. This achievement, reflecting strong capital efficiency, occurred even as shareholder funds consistently grew from RM55 million in FY2021 to RM67.74 million in FY2024, underscoring the effective utilisation of increasing invested capital.

While the annual ROE saw a slight dip from 25.97% in FY2022 to 21.28% in FY2023 and 19.9% in FY2024, the cumulative high average of 21.5% beat Optimax’s peers in the healthcare category. 

This earned Optimax the Highest Return On Equity Over Three Years award among companies in the healthcare sector at The Edge Malaysia Centurion Club Corporate Awards 2025.

Optimax’s impressive performance is a direct result of its strategic and continuous expansion, which has fuelled top-line growth to reach record highs.

In the financial year ended Dec 31, 2024 (FY2024), the group achieved a record-high revenue of RM127.69 million, marking a significant 12.1% increase from its prior peak of RM113.95 million, booked in FY2023. This strong revenue growth was driven by a series of expansion initiatives, including the opening of four new satellite clinics in FY2023, followed by another satellite clinic and three ambulatory care centres in FY2024. While net profit initially dipped from FY2022’s RM14.69 million to RM12.89 million in FY2023 amid the expansion, the group’s bottom line climbed to RM13.02 million in FY2024.

Its growth momentum appears set to continue into FY2025. Optimax’s first quarter ended March 31, 2025 (1QFY2025), saw a 13.8% jump in net profit to RM3.43 million from RM3.01 million in 1QFY2024, as revenue grew 7.3% to RM30.28 million from RM28.22 million.

Meanwhile, Optimax is gearing up for further expansion. With the healthcare industry remaining solid and demand for eyecare services booming, the group is planning to establish more ambulatory care centres and satellite clinics.

“The group is actively engaging with stakeholders to bring the best healthcare services and technology to the public in both Malaysia and Cambodia,” Optimax stated in its latest quarterly disclosure. “Furthermore, the group remains committed to expanding its child eyecare services, recognising the increasing awareness and need for early intervention in paediatric eye health.”

Recognising the need for high patient traffic to support its strategic locations, the group has also launched intensive marketing initiatives, including roadshows across Malaysia and Cambodia, to enhance brand awareness. “With these marketing efforts, the group is witnessing growth momentum from its newly established ambulatory care centres (Atria, Petaling Jaya; Kota Kinabalu and Cambodia) as well as Neumax (aesthetic clinic),” it added.

Neumax, Optimax’s flagship aesthetic centre, marks the group’s inaugural venture into the plastic surgery and aesthetic services space, further broadening its service offerings.

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