BIG CARING GROUP BHD (5358.KL)
- Sector
- Healthcare
- Price
- RM 1.08 (0.00%)
- Market cap
- 8.0B MYR
See analyst ratings, target prices and the track record of every expert covering BIG CARING GROUP BHD. Unlock full analyst calls.
About BIG CARING GROUP BHD
Company Description
Big Caring Group Berhad (BCG) traces its roots to 2006, when pharmacists Lee Meng Chuan and Lim Sin Yin opened their first outlet in Damansara Uptown, Petaling Jaya. It was incorporated in 2013 and became a public company in March 2026. BCG is Malaysia's largest retail pharmacy chain, with 668 outlets under six brands (BIG Pharmacy, CARiNG, Georgetown, Wellings, Ting and iCare) across all 13 states and three Federal Territories. Its corporate office and main distribution centre are in Bukit Raja, Klang. The outlets sell healthcare, pharmaceutical, beauty and general merchandise products. Upstream, Yanling manufactures nutraceuticals, health supplements and traditional medicines in Sungai Buloh. Medispec, Quantum Upstream and Aetos Pharma import and distribute pharmaceuticals, medical devices and supplements. BCG also runs Your Physio physiotherapy centres and the MyHA tele-consultation and e-prescription platform.
Business Model
Most of BCG's revenue comes from retail sales. It sells through its own outlets, its own e-stores, third-party marketplaces, and corporate channels that serve employers, healthcare administrators and insurers. Growth comes from two sources: organic roll-out and acquisitions in a fragmented market. A new outlet costs RM280,000–420,000 in capex, typically breaks even at EBITDA level within a year, and pays back in two to three years. Brands are positioned for different catchments. BIG serves dense residential areas, CARiNG targets malls and families, and the regional brands cover local markets. Purchasing is centralised and runs through a semi-automated distribution centre with satellite hubs, which secures better supplier rebates and longer credit. Suppliers also pay for in-store visibility, generating advertising and promotion income of RM123.9m in FY2026. In-house manufacturing, distribution and own-brand products add a higher-margin layer on top of retail.
Revenue Segment
In the Financial Year ending June 2026 (FY2026), BCG's revenue was RM4,024.0m:
| Segment | Revenue (RM'm) | Share of total |
|---|---|---|
| Retail | 3,738.1 | 92.9% |
| Medispec (distribution) | 174.5 | 4.3% |
| Yanling (manufacturing) | 67.3 | 1.7% |
| Other products and services, including Your Physio | 44.1 | 1.1% |
Within retail, healthcare products made up 46.2% of retail revenue, pharmaceutical products 39.0%, beauty products 13.2%, and general merchandise and others 1.6%. Own-brand products accounted for 12.4% of FY2026 retail revenue. E-commerce and corporate sales reached RM211.1m, or 5.2% of Group revenue.
Geographic Segment
All of BCG's outlets are in Malaysia. The pending acquisition of Yeap Medical Supplies would be its first entry into Singapore. As at 30 September 2026 (FY2027), the outlets were spread as follows:
| Region | Outlets | Share of outlets | BCG market share by licensed pharmacy count |
|---|---|---|---|
| Selangor | 175 | 26.2% | 18.5% |
| Southern (Johor, Melaka, Negeri Sembilan) | 150 | 22.5% | 19.5% |
| Northern (Kedah, Perak, Perlis, Pulau Pinang) | 114 | 17.1% | 12.2% |
| Kuala Lumpur and Putrajaya | 98 | 14.7% | 23.5% |
| East Malaysia (Sabah, Sarawak, Labuan) | 79 | 11.8% | 13.7% |
| East Coast (Kelantan, Pahang, Terengganu) | 52 | 7.8% | 12.8% |
Top Client
The report does not name individual clients. BCG's key customer groups are retail consumers reached through its outlets and online channels, and corporate customers such as employers, healthcare administrators and insurers. On the business-to-business side, it supplies hospitals, clinics, other pharmacies and resellers. Medispec serves more than 7,200 distribution points. Yanling also makes products for third-party brand owners, although 41.4% of its FY2026 revenue came from the Group itself. On the supply side, Zuellig Pharma and DKSH Malaysia together supplied 57.3% of FY2026 purchases.
Operational Scale
At the end of FY2026, BCG had 646 outlets. As at 30 September 2026, it had 668 outlets:
- 660 of these were licensed pharmacies, 16.5% of the national total.
- 535 were high-street outlets and 133 were in malls.
- 350 were BIG Pharmacy outlets and 232 were CARiNG outlets.
The Group also operates:
- 27 physiotherapy centres
- the Sungai Buloh manufacturing plant, where four of six lines run at 45–66% utilisation
- four distribution centres
- about 25,800 retail SKUs
It employs 7,101 staff, including 715 Type A-licensed pharmacists. MyHA handled about 125,000 transactions a month in FY2026.
Targets:
- 40–50 new outlets a year
- 7.0–9.0% same-store sales growth
- 180,000 MyHA transactions a month by end-2027
- more than 600 Medispec products within three years
- a new RM30.0m distribution centre within 36 months
Associate Companies
BCG's subsidiaries and the stakes named in the report are:
| Company | Stake / details |
|---|---|
| Your Physio | 57.1%, acquired for RM32.8m |
| Mercury Wellness | 51.0% |
| AHC Medical Supplies | 60.0% |
| Ting Pharmacy | 70.0% initially, minorities partly bought out later |
| TPHP | additional 26.8% bought in FY2026 |
| Wellings Pharmacy | additional 32.4% bought in FY2026 (TPHP and Wellings together cost about RM77.7m) |
| Yeap Medical Supplies (Singapore) | agreement signed to acquire 96.0% |
| Yanling | stake not stated; Brego Life Sciences remains a major shareholder and holds a RM160.8m put option |
| Medispec | stake not stated; acquired for RM249.4m |
| Quantum Upstream, Aetos Pharma | named as distribution entities; stakes not stated |
Post-IPO, UPSB holds 34.4% of BCG and Creador's IPSB holds 19.3%.