Sunway Group unit to acquire hospital property for $98m | Asian Business Review
, Malaysia
426 views
Logo from Sunway.

Sunway Group unit to acquire hospital property for $98m

The property is currently leased by the company to operate a medical centre.

Malaysia-based Sunway Group’s healthcare unit has proposed to acquire a hospital building in Selangor from a trustee of its real estate investment trust (REIT) for a consideration of $97.62m (RM430m), the company said in a bourse filing.

The proposed acquisition by Sunway Medical Centre (SMCSB), a 99.99%-owned subsidiary of Sunway Healthcare Holdings, entailed the purchase of the lands and buildings known as “Tower A & B of Sunway Medical Centre” from RHB Trustees, a trustee of Sunway REIT.

The property is currently leased and used by SMCSB to operate a medical centre, a 7-storey purpose-built hospital building with a lower ground floor annexed with a multi-storey car park block and a convention centre.

READ MORE: Malaysian medical centre, university launch HIFU tech training for 25 int’l clinicians

“The Proposed Acquisition is part of Sunway Healthcare Group’s plan to rationalise and streamline its decision on capital expenditure enhancement and value preservation on its assets by having full ownership and control,” the company said.

SMCSB previously disposed of the Property to Sunway REIT for a total disposal consideration of $70.37m (RM310m) at the end of December 2012.

Follow the link for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Embracing technology and personalisation drives e-commerce in Indonesia
3 retail executives compare notes on rapid tech-driven growth of e-commerce at Retail Asia Forum.
Embracing hyperlocal retailing in Indonesia
Retail Asia Forum in Jakarta delved on the complexities of implementing hyperlocal retail strategies in a country as diverse as Indonesia.
PT ABC President Indonesia touts retail with personalised digital campaign
COO Dwi Hatmadji showcases successful Gen Z and millennial engagement strategy at Retail Asia Forum 2024