KUALA LUMPUR (March 18): Sunway Healthcare Holdings Bhd (KL:SUNMED) anticipates that Malaysia would draw a potential influx of medical tourists from the Middle East in the near term, as ongoing geopolitical tensions prompt patients to seek alternative healthcare destinations within Asia.
Speaking to reporters post-listing, Sunway Healthcare president Datuk Lau Beng Long said the evolving situation in the Middle East could alter established medical tourism flows, with patients previously travelling to regional hubs such as Dubai potentially redirecting to Southeast Asia.
“There may be situations where Middle Easterners may have to come over to Asia, Southeast Asia in particular, for some kind of temporary stay until things are more settled back home,” said Lau.
Despite the uncertainties caused by the war in the Middle East, Sunway Healthcare said its medical tourism outlook remains resilient, underpinned by its strong presence and exposure to regional markets.
Chief financial officer Chelsea Cheng said Sunway Healthcare’s patient base is still largely driven by foreign patients from regional neighbours such as Indonesia and Cambodia, as well as China and India.
“As we don't really depend a lot on European tourists at the moment for our healthcare sector, so at this moment I believe we are pretty much shielded, and we are confident with our medical tourism outlook for the year,” Cheng said.
Lau noted that currency dynamics are also working in the medical tourism outlook for Malaysia. The strength of the ringgit against the Singapore dollar, alongside the relative weakness of the Indonesian rupiah, has contributed to a higher flow of Indonesian patients seeking more affordable treatment options in Malaysia.
Sunway Healthcare made its highly anticipated debut on the Main Market on Wednesday morning, opening at a 17% premium of RM1.70 against its initial public offering price of RM1.45, raising over RM3 billion. The group plans to use the funds raised to expand its hospital capacity, such as adding new patient beds, and also to increase its overall regional exposure in Southeast Asia.
Sunway Bhd (KL:SUNWAY) founder and chairman Tan Sri Dr Jeffrey Cheah said Malaysia’s broader macroeconomic positioning acts as a cushion despite global uncertainties, highlighting the country’s status as a net exporter of oil and gas.
He said the country’s relative stability has made Malaysia an increasingly attractive destination for both investors and patients amid heightened geopolitical risks. However, he also urged general caution towards the current global backdrop, noting that the outcome is still unclear and that conditions could shift.
“For us, as a group, we are always on the alert and on the lookout for problems, and to tackle the challenges as they come,” said Cheah.
WATCH: Sunway Healthcare expects influx of medical tourists to Malaysia