KUALA LUMPUR (July 15): IHH Healthcare Bhd has established a new, wholly-owned subsidiary, Acibadem Teknoloji A.S., in Turkey with an initial paid-up capital of 100,000 Turkish lira (RM144,610).

Acibadem Teknoloji will be principally involved in conducting research, developing and commercially marketing healthcare-related software, applications and other technology solutions for national and international clientele, IHH said in a filing with Bursa Malaysia today.

It was established on July 14 by IHH’s indirect subsidiary Acibadem Saglik Hizmetleri ve Ticaret A.S.

“The establishment of Acibadem Teknoloji will not have any effect on IHH’s issued and paid-up share capital and substantial shareholders’ shareholdings,” the company said.

“There shall be no material effect on the earnings, net assets and gearing of IHH for the financial year ending 31 December 2015,” they added.

IHH (fundamental: 1.65, valuation: 0.50) currently operates a network of hospitals providing premium healthcare services with key operations in Malaysia, Singapore and Turkey.

It traded up 2 sen or 0.34% to RM5.86 today for a market capitalisation of RM48.18 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuationscore determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)