Dafu Capital Leads Chinese Healthcare Delegation on Southeast Asia Investment Roadshow to Unlock Regional Market Opportunities

To explore new opportunities for Chinese healthcare companies in expanding into overseas markets, GL Capital Group led a delegation of representatives from 24 Chinese healthcare enterprises and successfully organized the Southeast Asia-China Healthcare Summit and business study tour from September 5 to 10. Co-hosted by GL Capital Group, the Indonesia Investment Authority (hereinafter referred to as “INA”), and CGS International (hereinafter referred to as “CGS MY”), the summit was held in Jakarta and Kuala Lumpur respectively, with strong support from local government departments and relevant institutions in Indonesia and Malaysia.

At the summit in Indonesia, Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia; Mr. Aristo Setiawidjaja, Technical Advisor for Health Service Transformation at the Ministry of Health; and Ms. Lucia Rizka Andalusia, Director General of Pharmaceuticals and Medical Devices at the Indonesian Ministry of Health, were invited to attend the event and deliver keynote speeches. They shared insights on the significant potential for healthcare investment opportunities in Indonesia driven by national healthcare reforms, as well as the laws and regulations governing pharmaceuticals and medical devices in the country. They emphasized the importance of strengthening national health security by establishing local manufacturing facilities and explored models of collaboration between Chinese and Indonesian healthcare enterprises and investors to jointly advance this mission.

Mr. Aristo Setiawidjaja, Technical Advisor for Health Service Transformation at the Indonesian Ministry of Health (far left); Mr. Stefanus Ade Hadiwidjaja, Chief Investment Officer of INA (second from left); Ms. Lucia Rizka Andalusia, Head of the Indonesian Food and Drug Authority (third from left); Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia (center); Mr. Li Zhenfu, Founder of GL Capital Group (third from right); Mr. Arief Budiman, Deputy CEO of INA (second from right); and Mr. Thomas Sugiarto Oentoro, Chief Risk Officer of INA (far right)

During his meeting with Mr. Li Zhenfu, Founder of GL Capital Group, and a delegation of Chinese enterprises, Indonesia’s Minister of Investment, Mr. Rosan Roeslani, provided detailed responses to questions regarding investment and business operations in Indonesia. He encouraged Chinese healthcare companies to seize the favorable opportunity presented by the increasingly close ties between China and Indonesia, and to further increase their investment in the country.

Ridha Wirakusumah, CEO of INA, stated in his speech that the healthcare sector, as its strategic core, has already established a presence in sub-sectors including pharmaceutical manufacturing, distribution, hospitals, pharmacies, clinics, and diagnostic laboratories. He expressed strong confidence in exploring collaborations with GL Capital Group and leading healthcare enterprises in China and Indonesia, which will lay the foundation for enhancing healthcare innovation in Indonesia and securing future cooperation opportunities.

Mr. Li Zhenfu, Founder of GL Capital (far left); Mr. Budi Gunadi Sadikin, Minister of Health of Indonesia (second from left); Mr. Stefanus Ade Hadiwidjaja, Chief Investment Officer of the Indonesian Sovereign Wealth Fund (far right); and Mr. Aristo Setiawidjaja, Technical Advisor on Health Service Transformation to the Indonesian Ministry of Health (second from right), participated in the roundtable forum.

At the summit in Malaysia, Mr. Rafizi Ramli, Malaysia’s current Minister of Economy, fully affirmed the developmental advantages of Chinese enterprises in Malaysia. He expressed his outlook on Malaysia’s economic transformation and cooperation with Chinese investors, encouraging Chinese companies to seize opportunities during Malaysia’s period of economic transition, treat Malaysia as a key market and strategic partner, and establish a strong local presence. Puan Azlina Hamdan, Director of the Life Sciences and Medical Technology Division at the Malaysian Investment Development Authority (MIDA), shared insights into healthcare investment opportunities within Malaysia’s position in the ASEAN healthcare sector, as well as the country’s progress in medical device manufacturing, pharmaceuticals, and medical tourism.

Mr. Li Zhenfu, Founder of GL Capital (left), and Mr. Rafizi Ramli, Malaysia’s Minister of Economy, Discuss the Development of Malaysia’s Economy and Healthcare Industry

In addition, Mr. Khairy Jamaluddin Abu Bakar, former Minister of Health of Malaysia and Independent Non-Executive Director of CGS MY, also attended the summit and shared his insights on opportunities in the Malaysian healthcare market. He emphasized that future investment priorities in Malaysia should focus on five key areas: hospitals, medical devices, traditional Chinese medicine, medical tourism, and healthcare digitalization.

Shared by Mr. Khairy Jamaluddin, Former Minister of Health of Malaysia

Azizah Mohd Yatim, CEO of CGS MY, emphasized the positive role of friendly bilateral relations in promoting economic and trade exchanges, expressing confidence that cooperation between both sides can accelerate collaboration, cross-border investment, and financing processes among Chinese, Malaysian, and ASEAN enterprises.

The summit also attracted nearly 100 presidents and senior business executives from more than 30 renowned healthcare companies in Indonesia and Malaysia, including Kalbe Farma, the largest pharmaceutical group in Southeast Asia; Kimia Farma, Indonesia’s second-largest healthcare enterprise; IHC, Indonesia’s largest public hospital system; Haldoc, Indonesia’s leading online consultation platform; Hermina, Indonesia’s second-largest private healthcare group; idsMED, the largest medical device and equipment distributor in Southeast Asia; Zuellig Pharma, the largest pharmaceutical distributor in Southeast Asia; as well as Sunway Healthcare, KPJ Healthcare, BIG Pharmacy, Pharmaniaga, Duopharma, and DKSH from Malaysia.

Chinese Corporate Delegation Visits Kimia Farma Apotek Pharmacies and Clinics

Under the organization and coordination of GL Capital Group and its partners, enterprises from China’s healthcare and wellness sector engaged in in-depth exchanges with corporate representatives from Indonesia and Malaysia. The discussions focused on local market dynamics, as well as respective goals, expectations, and visions, aiming to foster deep cooperation between Chinese companies and their Indonesian and Malaysian counterparts in the healthcare field. Meanwhile, Chinese enterprise representatives visited local Indonesian companies, including Kalbe Farma, Kimia Farma Apotek, and IHC, as well as the Johor Medical Industry Park and Sunway City Kuala Lumpur Healthcare Centre in Malaysia. They also held meetings with relevant officials from the Indonesian Industrial Estates Association (HKI) and the Iskandar Regional Development Authority (IRDA) of Malaysia to learn about local industrial development zones and supportive policies. Through these on-site inspections and business matchmaking activities, the parties further explored opportunities for collaboration and gained insights into local investment and development prospects.

Dr. Wang Yifei, Partner at GL Capital (second from left in the center); Tan Sri Dato’ Chew Choo Keen, President of Sunway Group (first from left in the center); Mr. Xie Yanxin, CEO of Digital and Strategic Investments at Sunway Group (first from right in the center); and Mr. Khoo Choo Huat, Managing Director of Sunway Medical Group (second from right in the center)

The week-long, highly efficient and intensive program of in-depth discussions and field visits received strong support and high praise from representatives of Chinese enterprises. Participants reported that the event enhanced their understanding of the Southeast Asian market, created opportunities for dialogue with local companies and partners, and uncovered multiple potential business opportunities, thereby providing valuable support for market development and investment decision-making in Southeast Asia.

Li Zhenfu, Founder of GL Capital Group, stated, “Our primary mission is to provide value-added services to our portfolio companies and drive the development of China’s healthcare industry. By hosting summits and study tours, GL Capital Group has ushered in a new chapter for long-term cooperation between China and Southeast Asia in the healthcare sector. Committed to working alongside our partners, we leverage capital and commercial strategies to help our portfolio companies expand their businesses into core markets within Greater China as well as Southeast Asian markets, including Indonesia and Malaysia, thereby achieving long-term strategic objectives for both parties in the healthcare field.”