ISEC Healthcare Ltd said on Aug, 28 2026 that its wholly-owned subsidiary ISEC Sdn Bhd has signed a joint-venture agreement with K.C. Yeo Eye Specialist Clinic Sdn Bhd, Wedjat Vision Sdn Bhd and ANKH Holdings Sdn Bhd to set up “ISEC (Muar) Sdn Bhd”, an ophthalmology centre in Muar, Johor, Malaysia.

The joint-venture company will be incorporated with an initial issued capital of RM100, to be raised to RM1.32 million (about 0.42 million Singapore dollars) within nine months. After the subscription, ISEC Sdn Bhd will hold 77.27% of the enlarged 1.32 million shares, while the three Malaysian partners will each own 7.58%.

The board of the new entity will comprise up to three directors: two nominated by ISEC Sdn Bhd and one jointly nominated by the Malaysian partners. A two-year moratorium on share transfers applies, except for transfers by ISEC Sdn Bhd within its related corporations.

The agreement allows up to two additional doctors to join the centre and acquire up to 680,000 new shares over six years, potentially reducing ISEC Sdn Bhd’s stake to 51% and giving the new doctors 25% and 9% respectively, while each existing Malaysian partner would hold 5%.

ISEC Healthcare said the move supports its plan to enlarge its Malaysian network; the group currently has no presence in Muar. The investment, funded from internal resources, is not expected to have a material impact on the group’s net tangible assets per share or earnings per share for the financial year ending Dec, 31 2026.

The transaction falls below the 5% thresholds under Rule 1006 of the Catalist Rules and is therefore classified as a non-discloseable transaction.