This article first appeared in The Edge Malaysia Weekly on August 17, 2026 - August 23, 2026

Optimax Holdings Bhd’s (KL:OPTIMAX) upward earnings growth trajectory has continued. The optical healthcare specialist broke revenue records during the three-year review period between 2023 and 2025.

In the financial year ended Dec 31, 2025 (FY2025), Optimax achieved a record-high revenue of RM135.7 million, up 6.3% from its previous record of RM127.69 million in FY2024. This marks the company’s third consecutive year of achieving record-breaking revenue.

Optimax attributed revenue growth to a sustained demand for eye-care services, strong marketing efforts and the opening of new care centres and satellite clinics.

Its net profit came in at RM13.9 mllion in FY2025, up from RM13 million in FY2024,  and RM12.9 million in FY2023, but down from RM14.7 million in FY2022.

The company’s basic earnings per share rose to 2.56 sen, from 2.39 sen in both FY2024 and Y2023.

This performance has enabled the Main Market company to clinch the award for Highest Return On Equity (ROE) Over Three Years under the healthcare sector of The Edge Malaysia Centurion Club Corporate Awards. This is the second consecutive year that Optimax has won the award.

While its annual ROE drifted lower marginally, the eye-care specialist’s weighted average of 20.1% remains the highest among healthcare players. Optimax’s ROE came in at 19.7% in FY2025, lower than 19.87% in FY2024 and 21.28% in FY2023.

Given its steady earnings, the company has rewarded shareholders with regular dividends in the three-year period under review, with dividend per share increasing each year.

The company declared a total dividend of 1.4 sen per share in FY2025, equivalent to a payout ratio of 50% of consolidated profits. In its 2025 annual report, Optimas notes that the 50% ratio reflects a balanced approach between rewarding shareholders and retaining sufficient funds for growth initiatives.

Optimax continued its efforts to strengthen and expand its regional presence, especially to capitalise on the growing medical tourism market in 2025. It did this by strengthening its services in its still-growing markets in East Malaysia and Cambodia, while building its presence in Indonesia.

The company’s Cambodian operations recorded strong growth, generating RM4.13 million in revenue, up 113% from RM1.75 million in the previous year.

Its East Malaysian operations also performed strongly, with revenue rising 77.5% to RM8.37 million. Optimax views this as validation of its expansion into these regions.

Meanwhile, in Indonesia, Optimax is in the process of establishing an ambulatory care centre in Jakarta.

Since its inception, the company’s strategy has been to establish a wide but stable presence. Starting from a clinic in Taman Tun Dr Ismail, Kuala Lumpur, in 1995, it expanded across the nation and now into the Asean region.

In FY2023, Optimax opened four new satellite clinics. Then, in FY2024, it opened three ambulatory care centres, making it a total of 16 ambulatory care centres, eight satellite clinics and one specialist hospital in all regions. Rather than opening new centres in 2025, the company focused on optimising its existing outlets to strengthen its foundation for expansion.

Optimax is led by founder Tan Sri Dr Tan Boon Hock, who holds a 57.82% stake in the company — 27.2% from directly held shares and 30.62% from indirectly held shares under Sena Healthcare Services Sdn Bhd, which is owned by Tan and his daughter.

Tan also holds a controlling stake of 48.38% in ITMAX System Bhd (KL:ITMAX) through Sena Holdings Sdn Bhd and serves as its non-independent, non-executive director.

Growth is expected to moderate in 2026. In the first quarter ended March 31, 2026 (1Q2026), Optimax recorded revenue of RM30.58 million, up just 1% year on year from RM30.27 million. Quarterly net profit fell 18% to RM2.81 million, however, from RM3.43 million.

Optimax attributed the growth to stronger performance in the East Malaysia and Cambodia markets, which helped offset the seasonal slowdown in business activities during festive periods.

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