LYC Healthcare forms subsidiary to expand confinement centre ops in Johor
13 Apr 2021
KUALA LUMPUR (April 13): LYC Healthcare Bhd’s wholly-owned unit LYC Mother and Child Centre Sdn Bhd has incorporated a 51%-owned subsidiary to facilitate the expansion of its confinement centre operations in Johor with Singapore O&G Ltd (SOG).
Singapore-listed SOG, through wholly-owned subsidiary SOG Mummy and Baby Centre Pte Ltd, holds the remaining 49% stake in the special purpose vehicle LYC SOG Mother and Child Sdn Bhd (LYCSOG).
In a filing with Bursa Malaysia today, LYC said LYCSOG’s intended principal activities were operating confinement centres, mother and child care centres and its related services.
LYC described Johor an attractive location for the group’s expansion plans with its population, total live births and median income trailing closely behind Selangor and Kuala Lumpur.
“Its close proximity to Singapore would mean that the proposed confinement centre in Johor would be able to tap into the Singapore market with live births of 39,115 (as at 2019) per annum, based on the Singapore Demographic Bulletin under Singapore’s Immigration & Checkpoints Authority,“ it said.