OPTIMAX HOLDINGS BERHAD

INVESTOR PRESENTATION
July 2020
AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT

BUSINESS OVERVIEW

BUSINESS OPPORTUNITIES

GOING FORWARD

FINANCIAL
OFFERING SUMMARY
Raising RM21 million
Issuer Optimax Holdings Berhad (“Optimax” or “the Company”)

Principal Adviser, Sole Placement

Agent, Sole Underwriter, Sponsor

Listing sought ACE Market of Bursa Malaysia Securities Berhad (“ACE Market”)

Offer structure A public issue of 70,000,000 new shares (“IPO Shares”) made available for application as follows:
• 13,500,000 IPO Shares by the Malaysian public
• 4,000,000 IPO Shares by eligible employees and directors of Optimax and its subsidiaries (“Optimax Group”)
• 27,000,000 IPO Shares to Bumiputera investors approved by the Ministry of International Trade and Industry
of Malaysia (“MITI”)
• 25,500,000 IPO Shares to Malaysian institutional and selected investors (other than Bumiputera investors
approved by the MITI)

Issue price RM0.30 per IPO Share

Market capitalisation upon listing RM81 million

Share capital No. of shares RM’000

Issued share capital as at the LPD 200,000,000 19,500

New shares to be issued for the IPO 70,000,000 *19,571

Enlarged issued share capital upon Listing 270,000,000 39,071

Note: * Less estimated listing expenses allowed to be set off against equity
OFFERING SUMMARY
Use of proceeds
CAPITAL
EXPENDITURE
OBJECTIVE
Expand our ambulatory care
centre (“ACC”) network in
Central region of Peninsular
Malaysia, and purchase of
operation equipment/tools for
existing centres
ACTION
• Acquire Seremban buildings
to be used as an ACC
• Purchase operation
equipment for Seremban
and existing centres
REPAYMENT OF WORKING
BORROWINGS CAPITAL
OBJECTIVE OBJECTIVE
Interest savings of RM0.12 Finance our day-to-day
million per annum, based on operations, including those
interest rate of 3.52% as at arising from our expansion
31 May 2020 (“LPD”)
ACTION ACTION
Repay term loan Pay wages and purchase
consumables related to the
provision of eye specialist
services
LISTING
EXPENSES
OBJECTIVE
Defray listing expenses
ACTION
Pay professional fees,
underwriting, placement and
brokerage fees, fees to
authorities, etc.

RM 10.4 mil RM 3.5 mil RM 3.5 mil RM 3.6 mil

49.3% 16.8% 16.8% 17.1%
Proceeds Proceeds Proceeds Proceeds
AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT
• Promoters And Shareholding Structure
• Mode of Operation
• Corporate Milestone

BUSINESS OVERVIEW

BUSINESS OPPORTUNITIES

GOING FORWARD

FINANCIAL
CORPORATE SNAPSHOT
Promoters and shareholding structure

0.0001%
Datin Lim Sho Hoo
Founding Doctors
• Dr. Stephen Chung
spouse 5.69%

Dato Tan Boon 99.9999% Sena Healthcare • Dr Chuah Kay Leong

3.73% Others and Public
Hock Services Sdn Bhd

31.80% 29.21%
*61.77%
Optimax 9.42% #28.81%

Note:
*Collectively, Dato Tan Boon Hock holds 61.77% by virtue of the interests of his children, Sandy Tan and Michelle Tan, in our
Company, and his interest in Sena Healthcare Services Sdn Bhd.
#Excludes Sandy Tan and Michelle Tan’s Pink form shares allocation.
CORPORATE SNAPSHOT
Corporate structure – our mode of operation
OPTIMAX
100%

OESC

100% Optimax Eye Specialist Centre (Ipoh) Optimax Eye Specialist Centre (Seri Petaling) 70%

100% Optimax Eye Specialist Centre (Seremban) Optimax Eye Specialist Centre (Bandar Sunway) 70%

100% Optimax Eye Specialist Centre (Shah Alam) Optimax Eye Specialist Centre (Southern) 70%
100% 100%
100% Optimax Eye Specialist Centre (Kuching) Inspirasi Alamjaya Optimax Eye Specialist
Notes: (Johor Bahru) Centre (Muar)
• Optimax Eye Specialist Centre Sdn Bhd (“OESC”) 90% 90%
• OESC fully owns one (1) specialist hospital (George Town) and two (2) ACCs Optimax Eye Specialist Optimax Eye Specialist
(TTDI and Klang) Centre (Kluang) Centre (Segamat)
Optimax Eye Specialist Centre (Kajang) (Dormant) 79%

Optixanthin Sdn Bhd (“Optixanthin”) 90%

Provider of eye specialist services with a chain of 13 eye specialist centres in Malaysia.
► Five (5) ACCs ► Six (6) ACCs
► One (1) specialist hospital
► One (1) specialist clinic

A team of 18 eye surgeons as at LPD.

► 11 of our eye surgeons are employee doctors while 7 are our consultant doctors
► Some of our eye surgeons are minority shareholders of their respective centres
CORPORATE SNAPSHOT
Corporate milestone – 25 years of experience in eye specialist service
1995
• Incorporated OESC
• Optimax International Ltd granted OESC sole rights to
2000 use the Optimax trademark in Malaysia for 10 years
from 31 March 1995
Started offering laser in-situ • First eye specialist clinic in Taman Tun Dr Ismail
keratomileusis (LASIK) procedure

2001
Mitrajaya Holdings Berhad, a listed entity, acquired a
2006 51% equity interest
• Started offering cataract surgery
• Renewed trademark licence until 31
March 2015
2008
Expanded to East Malaysia by opening an
2010 eye specialist clinic in Kuching, Sarawak
Optimax International Limited granted Dato’ Tan
Boon Hock and OESC the right and license to use
the Optimax trademark in South East Asia
CORPORATE SNAPSHOT
Corporate milestone (cont’d)
2012
Relocated eye specialist clinic and
established first specialist hospital in
2013 Penang

Started offering Small Incision

Lenticule Extraction (SMILE®)
procedure
2016
Sena Healthcare Services Sdn Bhd
2017 acquired the 51% equity interest
from Mitrajaya Holdings Berhad
Carried out several acquisitions as
part of our corporate
rationalisation exercise and
2018
geographical expansion
Established two ambulatory care
centres namely in Kluang and Segamat,
2019 Johor

The Optimax Trademarks are 2020

assigned and transferred to OESC
OESC became the sole and exclusive
party entitled to the use of the Optimax
trademark in South East Asia
AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT

BUSINESS OVERVIEW
• Business Activities & Revenue Stream
• ACC Network
• Business Segment
BUSINESS OPPORTUNITIES

GOING FORWARD

FINANCIAL
BUSINESS OVERVIEW
Revenue by services
► We offer a range of services with in-house expertise in medical ophthalmology at our specialist centres, as below:
EYE SPECIALIST SERVICES RELATED SERVICES
1 2 3 4 1 2

Treatment of eye diseases Refractive Consultation and Oculoplastic

and disorders surgery Eye examination Others
dispensary services surgery

Revenue contribution Revenue contribution

RM(‘000) FYE2018 FYE2019 YoY (%) (RM’000) FYE2018 FYE2019 YoY (%)
Treatment of eye diseases and disorders 20,692 26,724 +29.2
Eye
Refractive surgery 18,478 22,985 +24.4 1,027 1,731 +68.5
examination
Consultation and dispensary services 6,904 9,450 +36.9
Others 667 751 +12.6
Oculoplastic Surgery 1,466 978 (33.3)
Total 47,540 60,137 - Total 1,694 2,482 -
Contribution to Group (%) 96.56 96.04 - Contribution 3.44 3.96 -
to Group (%)
BUSINESS OVERVIEW
Revenue by region
Mode of
Location Centre Type Operation No. of Doctors Refractive Surgery Cataract Surgery Oculo-plastic Other Eye Treatment Consultation/ Dispensary
Central Region
Klang ACC Fully Owned 1R and 3V ✓ ✓ ✓ ✓
Seremban SC Fully Owned 5V ✓ ✓
Seri Petaling ACC Jointly Owned 1R and 3V ✓ ✓ ✓ ✓
Shah Alam ACC Fully Owned 1R and 4V ✓ ✓ ✓ ✓
Bandar Sunway ACC Jointly Owned 1R and 1V ✓ ✓ ✓ ✓
TTDI ACC Fully Owned 3R and 9V ✓ ✓ ✓ ✓ ✓
Southern Region
Kluang ACC Jointly Owned 1R and 1V ✓ ✓ ✓ ✓
Muar ACC Jointly Owned 1R and 3V ✓ ✓ ✓ ✓
Segamat ACC Jointly Owned 1R and 3V ✓ ✓ ✓ ✓
Johor Bahru ACC Jointly Owned 1R and 4V ✓ ✓ ✓ ✓
Northern Region
Ipoh ACC Fully Owned 1R and 1V ✓ ✓ ✓ ✓
George Town SH Fully Owned 3R and 3V ✓ ✓ ✓ ✓ ✓
East Malaysia
Kuching ACC Fully Owned 1R and 2V ✓ ✓ ✓ ✓ ✓
Note: SH = Specialist Hospital; ACC = Ambulatory Care Centre; SC = Specialist Clinic; R = Resident doctor; V = Visiting doctor

Revenue by geographical region FYE2018 (RM’000) FYE2019 (RM’000) YoY (%)

Central Region 30,472 37,423 +22.8
Southern Region 7,718 11,924 +54.5
Northern Region 8,530 10,342 +21.2
East Malaysia 2,514 2,930 +16.5
Total 49,234 62,619 +27.2
BUSINESS OVERVIEW
Treatment of eye diseases & disorders
CATARACT SURGERY
► Cataract is defined as the clouding of the lens in the eye, making vision hazy and cloudy. In most cases, if left untreated, it could lead to a
loss in vision and is the principal cause of blindness.

► For the Period under Review, the number of cataract surgeries we have performed are as follows:

Cataract surgeries FYE 2016 FYE 2017 FYE 2018 FYE 2019 Total
Number of surgeries 1,537 1,911 3,457 4,136 11,041

MEDICAL TREATMENT OF OTHER EYE DISEASES AND DISORDERS

► We offer medical treatment to diagnose and treat disorders and diseases affecting the eyes and/or vision.

► Typically, the patient will need to consult the surgeon and undergo the necessary eye assessment and evaluation.
BUSINESS OVERVIEW
Refractive surgery
► A type of vision correction surgery used to reduce the need for eyewear and contact lenses.

► All of the refractive surgery is performed by our surgeons to correct refractive error that causes vision impairment, including short-
sightedness, long-sightedness and astigmatism.

► The procedures include:

i. laser vision correction – involves reshaping the cornea using laser technology

Laser vision correction procedures FYE2016 FYE2017 FYE2018 FYE2019 Total

Number of surgeries 2,803 3,106 3,136 3,890 12,935

ii. implant vision correction – involves inserting a lens into the eye to decrease the dependency on eyewear

Implant vision correction procedures FYE2016 FYE2017 FYE2018 FYE2019 Total

Number of surgeries 39 160 102 105 406
BUSINESS OVERVIEW
Consultation & dispensary services and related services
► All of our patients have to undergo consultations with our eye surgeons on their first visit.
► In addition, all of our specialist centres are licensed to prescribe and dispense ophthalmic medications on site at the respective eye
specialist centres.
BUSINESS OVERVIEW
Oculoplastic surgery

► Oculoplastic surgery provides both functional and cosmetic treatment for disorders around the eye. This primarily involves procedures on
the eyelids and eyebags.
► Functional oculoplastic surgery: repairing the areas that cause visual impairment such as congenital defects and abnormal eyelid
positioning.
► Cosmetics or aesthetic surgery: Enhances appearance by reconstructing features around the eyes such as lifting of the eyelids.

SAMPLE OF EYELIDS SURGERIES

BUSINESS OVERVIEW
Related business and other business

► To complement our core services in eye specialist services, we also provide related services which mainly comprise eye examinations.

► All the eye examinations are performed by our in-house optometrists. As at the LPD, we have a team of 33 registered optometrists.

Sales of optical
wear Botox Eye examination

► Our other business includes the marketing of our own brand of food products under the brand name “Optixanthin”.

► Optixanthin is marketed as food products that contain astaxanthin, a naturally occurring colour pigment referred to as carotenoid derived
from microalgae, that is mixed in unrefined coconut oil.

OPTIXANTHIN OPTI-I OPTI-B

AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT

BUSINESS OVERVIEW

BUSINESS OPPORTUNITIES

GOING FORWARD

FINANCIAL
BUSINESS OPPORTUNITIES
Conducive demographic in Malaysia
The population of Malaysians aged 50 and above grew at a CAGR of 3.2% from 5.7 million in 2015 to 6.5 million in 2019.
Between 2019 and 2030, the forecasted CAGR of 4.1% for Malaysians aged 50 and above is higher compared to the CAGR of 1.4% for the
general population.
This highlights the potential increase in the demand for age related eye specialist services.

Population aged 50 and above Population of Malaysia (‘million persons)

(‘million persons)
26.5%
21.1%
20.0 55.0

18.0
30. 0%

18.2% 18.8% 19.1% 19.5% 19.8%

21. 0%

20. 0%
45.0
16.0

4.9% 38.1
14.0 4.2% 2.4% 2.9% 2.4% 10. 0%

33.8
1.0 %

35.0
31.4 31.8 32.2 32.5 32.7
10.1
12.0
0.0 %

-19.0%

10.0

-10.0%

7.1
25.0

8.0

6.0 6.1 6.3 6.5 -39.0%

6.0
5.7 -20.0%

15.0

-30.0% -59.0%

4.0

-40.0%

2.0
5.0
-79.0%

0.0 -50.0%

2015 2016 2017 2018 2019 2020f 2030f -5.0

2015 2016 2017 2018 2019 2020f 2030f -99.0%

Population aged more or equal to 50 Growth rate Population % of population aged more or equal to 50

Source: Department of Statistics, Malaysia (as cited in the Independent Assessment of the Private Eye Specialist Industry in Malaysia dated 22 June 2020 (“IMR Report”))
BUSINESS OPPORTUNITIES
Steady growth in inbound healthcare travellers
Recent trends show higher growth in number of healthcare travellers between 2016 and 2018 at CAGR of 14.1 % compared to between
2014 and 2018 at CAGR of 8.0%.
Number of Healthcare Travellers (‘000) Revenue from Healthcare Travellers (RM’million)
2,000 2,0 00

22.9%
17.6%
30. 0% 25. 0%

1,800 1,8 00

15.8% 15.4%
1,600
14.0% 14.3% 20. 0%

1,6 00

6.9% 1,500
15. 0%

7.2%
1,400
10. 0%
1,4 00
1,300 5.0 %

0.1% -2.6% 1,200

1,123
1,050
1,200 1,2 00

0.0 % -5.0%

1,000
882 859 921 1,0 00 914
777
-10.0% -15.0%

800 800

-20.0% -25.0%

600 600

-30.0% -35.0%

400 400

-40.0% -45.0%

200 200

0 -50.0% 0 -55.0%

2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Healthcare Travellers Growth rate Revenue Growth rate
Source: Malaysia Healthcare Travel Council (as cited in the IMR Report)
Revenue generated from healthcare tourism in Malaysia also increased at a CAGR of 17.9% between 2014 and 2018, but moderated
between 2016 and 2018 with CAGR of 15.6%. The market from healthcare travellers was significant, recording RM1.5 billion in 2018.

These areincremental opportunities from outside of Malaysia that benefit healthcare service providers, which may include eye
specialist services in Malaysia.
BUSINESS OPPORTUNITIES
Prevalence of lifestyle diseases
Lifestyle factors such as diet, smoking, excessive exposure to ultraviolet light and a sedentary lifestyle may contribute to diseases such as
diabetes, hypertension and obesity. These lifestyle diseases may cause eye diseases and disorders which increases demand for eye specialist
services.

Prevalence of Obesity Prevalence of Smoking Prevalence of Diabetes Prevalence of Hypertension

in Malaysia in Malaysia in Malaysia 18.3% in Malaysia
21.8%
19.7% 21.3% 32.6%
17.8%
13.4%
15.2%
11.2%

30.3%
19.0% 30.0%

2011 2015 2019 2011 2015 2019 2011 2015 2019 2011 2015 2019
Obesity prevalence of population aged Smoking prevalence of population aged Diabetes prevalence of population Hypertension prevalence of population aged
more or equal to 18 more or equal to 18 aged more or equal to 18 more or equal to 18

The type of eye diseases that

According to the World Health Organisation (WHO), smoking and Studies have indicated that
may arise due to diabetes
obesity are some of the factors that would increase the risk of a hypertension may play a role in
include cataracts, glaucoma
person developing eye diseases and disorders. the development of cataracts.
and diabetic retinopathy.
Source: Institute for Public Health, MOH (as cited in the IMR Report)
AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT

BUSINESS OVERVIEW

BUSINESS OPPORTUNITIES

GOING FORWARD
• Use of Proceeds
• Future Plans

FINANCIAL
GOING FORWARD
Use of proceeds – further expansion in Malaysia especially in the Central region
► We have been operating on a rented facility in Seremban where we are only providing consultation and dispensary services, and eye
examination.
► As part of our efforts to convert our specialist clinic in Seremban into an ACC, on 1 December 2019, OESC entered into a sale and purchase
agreement with Modal Saujana Sdn Bhd to purchase two units of 3-storey mid and end terraced shop/offices (one of which is the rented
facility which houses our Seremban clinic) for RM3.20 million.
► Renovation works are on-going and upon the completion of renovation (estimated 3rd quarter of 2020), the ACC would be able to provide
additional eye provision specialist services including refractive and cataract surgery (estimated 4th quarter of 2020).
► The total estimated built-up area is 12,703 square feet.
► The estimated cost arising from and/or in connection with the Seremban Buildings are as follows:

Description Internally generated

Estimated cost IPO proceeds
funds
RM’million RM’million
RM’million
Acquisition of Seremban Buildings 3.20 - 3.20
Renovation and fit-out works 3.45 3.45 -
Purchase of ophthalmological equipment 2.05 - 2.05

Stamp duty and registration fees 0.10 - 0.10

Total 8.80 3.45 5.35
GOING FORWARD
Use of proceeds – enhance our medical equipment capabilities and capacity
PURCHASE NEW OPHTHALMOLOGICAL EQUIPMENT AND TOOLS
► We also intend to purchase operation equipment and tools for our existing specialist centres to upgrade existing equipment, increase our
services offering and/or to expand our capacity.

► The purchase mainly includes laser machines for refractive and cataract surgery, and scanning and diagnostic machines for eye screening,
imaging and diagnostic tests.

► We have allocated RM5.00 million from our IPO proceeds to purchase new operation equipment and tools for our existing specialist
centres for the provision of our eye specialist services.

Phacoemulsification Pentacam Angio optical Fundus Camera

machine coherence tomography
GOING FORWARD
Future plans – Key considerations for expansion
1) Market Size
Location
2) Centre Size
Fully owned centres where we
will hire employee doctors to
be our resident doctors
3) Asset investment strategy:
LEASE
Adopt long term lease arrangements with
minimum leasing periods of say 3 years
with option to extend the tenancy period
for new premises.
This will reduce the capital investment
required, and channel asset investment into
renovation and fit-out works, and
purchase of ophthalmological equipment.
Population and demographic
within the location
Majority owned centres
or where our resident doctors
will have equity participation
and be minority shareholders
PURCHASE
If long term lease arrangements are not
available at suitable locations, we will
or
consider purchase of buildings subject to
justifiable potential market demand of the
catchment area, taking into consideration,
population size, demographic profiles and
the competition, to support the envisaged
level of capital investment.
GOING FORWARD
Future plans – Increase marketing efforts to entice healthcare travellers
► We have a team of 12 sales and marketing personnel focusing on sales and marketing functions which includes covering healthcare tourism.
► Healthcare tourism involves foreigners travelling to Malaysia for the main purpose of seeking medical treatment, procedure or services.

MARKETING STRATEGY
► Generally, our marketing strategy involves promoting our “Optimax” brand and services to reach a wider network of customers through
the following marketing efforts:

Digital marketing strategy Exhibitions Proactive Roadshows

Using geo-location for the participate in exhibitions Setting up pop-up stores or
searches and conventions to secure sales booths in conjunction with
new customers events
GOING FORWARD
Key investment highlights
A TRACK RECORD OF 25
YEARS TO SERVE AS
REFERENCE TO NEW
CUSTOMERS
• Developed an established brand
name under “Optimax”.
• For the Period under Review, we
have performed a total of
25,655 surgeries.
AN ESTABLISHED
NETWORK OF PRIVATE
EYE SPECIALIST CENTRES
IN MALAYSIA
• We operate 13 eye specialist
centres in Malaysia.
• An extended network of eye
specialist centres is important to
provide market reach and
consumer convenience.
OUR STAKEHOLDERS ARE
RESIDENT EYE SURGEONS
IN THEIR RESPECTIVE EYE
SPECIALIST CENTRES
• All of our eye surgeons are
medical practitioners licensed by
the Malaysian Medical Council,
and are registered
ophthalmologists under the
National Specialist Register.
MANAGEMENT TEAM
Tan Sing Yee (Sandy Tan)
Non-Independent Executive Director / Chief Executive Officer
• Graduated with a Bachelor of Laws (Honours) from Northumbria University, Newcastle
• Joined OESC since 2012 and was appointed as Chief Executive Officer in 2017
• Responsible for developing and implementing marketing strategies
Tan Sing Chia (Michelle Tan)
Chief Financial Officer
• Obtained her Bachelor of Science in Accounting and Finance from Cardiff University,
United Kingdom
• Joined Sena Letrik in 2013 as an Acting Chief Financial Controller and subsequently
joined OESC as Group Financial Controller in 2018
• Responsible for overseeing our Group's finance and accounting, treasury functions
and regulatory compliance
Dr. Stephen Chung
Senior Medical Director
• Obtained his Bachelor of Medicine and Bachelor of Surgery from University of Mysore,
India and Master of Surgery in Ophthalmology from National University of Malaysia
• Started his career as houseman in 1985 in Kuala Lumpur General Hospital. Established his
private clinic in 1995 and ceased operation in 2001 to fully dedicate his time to OESC
• Responsible for providing refractive surgeries training to our doctors
MANAGEMENT TEAM (cont’d)
Dr. Chuah Kay Leong
Senior Medical Director
• Obtained his Bachelor of
Medicine, Bachelor of Surgery
and Bachelor of Obstetrics
from Queen's University of
Belfast Medical School, United
Kingdom
• Joined OESC in 2002 as a
Consultant Ophthalmologist
• Responsible for providing
technical and clinical
leadership support and
mentorship
Dr. Lam Hee Hong
Medical Director (Southern)
• Obtained his Bachelor of
Medicine, Bachelor of
Surgery from University of
Malaya
• Began his career as a
houseman in Queen
Elizabeth Hospital, Kota
Kinabalu, Sabah
• Responsible for monitoring
the performance of
specialist doctors within our
Group in Southern region
Pang Woei Yaw Ang Chian Yen
Group Accountant Operations Manager
• Graduated from the • Obtained her Bachelor of Science
University of Malaya in Optometry from the National
with a Bachelor of Institute of Ophthalmic Science
Accounting • Began her career as an
• Began his career as an Optometrist in OESC (TTDI
audit assistant with branch)
Klynveld Peat Marwick • Responsible for ensuring that all
Goerdeler (KPMG) our branches, doctors and nurses
Malaysia hold and maintain the requisite
• Responsible for licences and certificates to
accounting and tax comply with MOH's requirements
related matters of our and adhere to ISO standards for
Group clinical matters
AGENDA
OFFERING SUMMARY

CORPORATE SNAPSHOT

BUSINESS OVERVIEW

BUSINESS OPPORTUNITIES

GOING FORWARD

FINANCIAL
 FINANCIAL
A steady healthy CAGR growth in profitability
00
Revenue (RM'000) 2016 – 2019 Revenue CAGR: +28% 40.00%

2016 – 2019 PAT CAGR: +41%

Profit Before Tax ("PBT") (RM'000) 62,619
Profit After Tax ("PAT") (RM'000)
35.00%

00

Profit After Tax and Non-Controlling Interests

(RM'000) 49,234
30.00%

00

PBT Margin (%)

26.61%
25.00%

00

36,015 20.08%
20.00%

29,962 15.55% 15.84%

00

15.00%

00

10.00%

12,572
9,583 7,380 7,801 8,739 7,831
00

7,390
4,660 4,970 4,445
5.00%

3,135 3,240
0 0.00%

FYE 2016 FYE 2017 FYE 2018 FYE 2019

FINANCIAL
Continuous growth in revenue by services
Segmental revenue contribution (RM’000)
26,724
Treatment of eye diseases and disorders
43%
Refractive surgery
Consultation and dispensary services 22,985
37%
Oculoplastic surgery 20,692
Related Services 42% 18,478

16,386 38%
46%
13,731
46% 11,788
33%
9,450
8,694
15%
29% 1,472 6,904
1,342 978
14%1,466
4,136
3,307 2,888 11% 2,233 2,482
11% 10% 1,694
6%
4% 4% 3% 3% 1% 4%
FYE 2016 FYE 2017 FYE 2018 FYE 2019
Note: Related services include business segment from Eye examinations and Others
FINANCIAL
Continuous growth in revenue by region
37,423
Regional revenue contribution (RM’000)
Central Region 60%
Southern Region
30,472
Northern Region
East Malaysia 62%
24,624
68%
20,617
69%

11,924
2,618 10,342
19%
7,304
2,041 8,084 7,718 8,530 17%
17%
24% 22% 16% 2,930
689 2,514

0 7% 2% 7% 5% 5%

FYE 2016 FYE 2017 FYE 2018 FYE 2019

FINANCIAL
2016 vs 2017
Revenue
• Our revenue grew by 20.20% to RM36.02 million in FYE 2017 (FYE 2016: RM29.96 million) mainly due to:
i. increased revenue from our existing specialist centres namely, Penang Hospital, TTDI centre and Kuching centre
ii. revenue contribution from our new eye specialist centres namely, Bandar Sunway centre and Johor Bahru centre

Profit Before Tax

• Our PBT increased by 105.64% to RM9.58 million in FYE 2017 (FYE 2016: RM4.66 million). This was mainly due to:
i. increased revenue generated as explained above

• Our PBT margin increased to 26.61 % in FYE 2017 (FYE 2016: 15.55%) mainly due to:
i. change in our corporate structure where more doctors were employed as full time employees within the Group as opposed to being
appointed as consultant doctors (resulting in cost savings)
FINANCIAL
2017 vs 2018
Revenue
• Our revenue grew further by 36.70% to RM49.23 million in FYE 2018 (FYE 2017: RM36.02 million) mainly due to:
• increased revenue from our existing specialist centres, namely Penang Hospital, TTDI centre and Bandar Sunway centre
• recognition of revenue from Muar centre and full financial year revenue from Johor Bahru centre and Seri Petaling centre

Profit Before Tax

• Our PBT decreased by 18.60% to RM7.80 million in FYE 2018 (FYE 2017: RM9.58 million). The decrease in PBT was mainly due to:
• increased staff cost for our two new ACC in Segamat and Kluang. We also employed two additional ophthalmologists and other
healthcare professionals for the operation of these two eye specialist centres prior to the commencement of operations of these
specialist centres
• Increased depreciation of operation equipment pursuant to new equipment purchased as part of our expansion as well as the
recognition of full year depreciation from our subsidiaries acquired in 2017
• IPO expenses

• Our PBT margin decreased to 15.84% in FYE 2018 (FYE 2017: 26.61%) mainly due to:
• the higher percentage of increase in wages and salaries and other related expenses as mentioned above
FINANCIAL
2018 vs 2019
Revenue
• Our revenue grew 27.19% in FYE 2019 mainly due to:
• increased revenue from several of our existing specialist centres namely, Penang Hospital, TTDI centre and Bandar Sunway centre
• recognition of revenue from newly established eye specialist centres namely, Kluang centre and Segamat centre

Profit Before Tax

• PBT increased significantly by 61.16% to RM62.62 million in FYE 2019 mainly due to:
• Increase in overall revenue as mentioned above

• Our PBT margin increased to 20.08% in FYE 2019 (FYE 2018: 15.84%) mainly due to:
• commencement of operations of the Segamat centre and Kluang centre in the fourth quarter of 2018 where we are able to generate
revenue in tandem with the recognition of staff cost
• lower IPO expenses
FINANCIAL
Financial position
RM’000 FYE 2016 FYE 2017 FYE 2018 FYE 2019

Current assets 5,394 8,241 10,422 14,503

Non-current assets 27,.038 32,032 45,767 49,412

TOTAL ASSETS 32,432 40,273 56,189 63,915

Current liabilities 9,528 9,945 10,878 16,039

Non-current liabilities 12,036 13,776 23,313 23,639

TOTAL LIABILITIES 21,564 23,721 34,191 39,678

TOTAL EQUITY 10,868 16,552 21,998 24,237

FINANCIAL
Key ratios
Key Ratios FYE 2016 FYE 2017 FYE 2018 FYE 2019

Average trade receivable turnover period (days) (1) 4.45 3.48 3.15 3.02

Average trade payable turnover period (days) (2) 86.87 52.18 58.28 48.45

Current ratio (times) (3)(4) 0.57 0.83 0.96 0.90

Gearing ratio (times) (5) 1.31 0.88 0.85 0.83

PBT Margin (%) 15.55 26.61 15.84 20.08

Key remarks
1. Our receivable turnover period is low as our transactions are conducted on cash terms, where patients pay in cash or by credit cards.
2. Our trade payable turnover period had improved over the years.
3. Our current asset levels are relatively low as we do not have substantial receivables since our transactions are conducted on cash terms. In
addition, we do not require a large amount of cash on hand as we have good relations with our suppliers (resulting in good credit terms). In
the past years, we have undertaken capital expenditure as part of our expansion where we have used our cash to purchase long term assets
(which lowered our current ratio).
4. Our current ratio is 1.25 times post IPO.
5. Our gearing is expected to drop to 0.39 times post IPO.
THANK YOU
Optimax Holdings
Berhad
No. 145, Jalan Radin Bagus
Seri Petaling
57000 Kuala Lumpur
Wilayah Persekutuan

For Investor Relations, please

contact
Tel : +603- 6419 9501
Email :
cassidy@esente.com.my
ashley@esente.com.my