Integrated Annual Report 2023 2 3 4 5 6 7 8 9 1 81 BUSINESS REVIEW Looking Forward to 2024 UEM Edgenta’s Healthcare Support division is preparing for a proactive and strategic year in 2024 across Malaysia, Singapore and Taiwan, focusing on several key areas to enhance our services and expand our market presence. Malaysia The strategy in Malaysia is built around three core pillars: Preserve: Continue the strong execution of contractual requirements with a focus on providing service levels that exceed expectations while fully complying with safety and regulatory requirements Pivot: Implement digitalisation, Smart Facilities Management (“FM”) and ESG-based initiatives to grow project margins Progress: Expand the business domestically and internationally with a focus on new healthcare business projects and third-party healthcare waste businesses In 2024, we will focus on: • Intensifying operational quick win initiatives to ensure the delivery of high-quality services and prioritising engagements with stakeholders • Optimising cost through prioritisation, rationalisation and meticulous deliberation on intended operational expenses Singapore In Singapore, the division is focusing on the expansion and diversification of our services. Key strategies include: • Expanding existing services in current markets such as securing existing and winning new Housekeeping and Portering contracts under major groups including National University Health System (“NUHS”) and National Healthcare Group (“NHG”) and growing the Hospitality and Commercial Housekeeping business • Developing new services like Inpatient Meal Services in the Healthcare sector • Diversifying and growing existing services in new markets such as developing Concierge Specialist services in the Commercial sector, particularly for Grade ‘A’ Buildings • Emphasising operational excellence, especially in response to intensifying manpower constraints, client demands and a changing market landscape. This involves being agile, resourceful and creative in operating contracts at competitive pricing while managing clients’ increasing expectations and escalating costs Taiwan In Taiwan, the division is adapting to challenges in the healthcare and commercial sectors with a focus on strategic responses to market conditions. Key strategies include: • Addressing price sensitivity and budget constraints in the healthcare and commercial sectors by navigating competitive pressures from local low-cost service providers • Managing the transition to headcount-based contracts in the healthcare sector, which now include regular roll calls and penalties, post-COVID-19 • Preparing for the resistance from clients concerning the impending increase in the minimum wage in 2024, which adds to the reluctance of clients to bear higher costs • Coping with additional staffing needs driven by the requirements of the Joint Commission of Taiwan accreditation body, and managing unforeseen events like typhoons that escalate manpower expenses • Advocating for the lifting of restrictions on importing foreign workers for hotel housekeeping to address severe staff shortages • Delivering exceptional healthcare support services (“HSS”) for the newly secured Hospital Cyberjaya, transitioning its readiness towards a Smart Healthcare institution • Rigorous pursuit of targeted investment in non-HSS businesses and identified growth pillars by diligently refining the pipeline of new opportunities
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