Given the recent hints about potential asset divestments, we think a potential divestment of its China assets is unlikely in the near term, given the cost of investments are much higher vs recent hospital transactions. Additionally, the recent completion of asset divestments reflects IHH’s ability to recycle its capital through other avenues to fund its cluster-focused expansion strategies. We make no changes to our forecast. Maintain BUY with a SOP-based TP of RM7.48.