Khazanah sells Prince Court hospital to IHH for RM1.02bil


IHH CEO designate Dr Kelvin Loh said: “This is a rare opportunity to acquire an attractive and accretive asset in Kuala Lumpur’s ‘Golden Triangle’ that would strengthen IHH’s position in Malaysia, while allowing us to capture the growing medical tourism market.”

PETALING JAYA: In line with its revised mandate, Khazanah Nasional Bhd has proposed to divest its 100% stake in Prince Court Medical Centre Sdn Bhd (PCMC) to its healthcare platform, IHH Healthcare Bhd, for a cash consideration of RM1.02bil.

In a statement yesterday, the sovereign wealth fund said its wholly owned indirect subsidiary – Pulau Memutik Venture Sdn Bhd (PMV) – had signed a share purchase agreement with Pantai Holdings Sdn Bhd, which in turn is a wholly-owned subsidiary of IHH, for the related-party transaction (RPT) involving 100 million ordinary shares and 35,176 redeemable preference shares in PCMC.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Prince Court , IHH , Khazanah , sell , shares , fund , Kelvin Loh , Shahril Redza ,

   

Next In Business News

Poser over Daim’s assets
HR firms thrive as China’s economy transitions
SupportLine
Seven & i mulls US$58bil management buyout
Uzma wins PETRONAS contract
Gamuda, IJM likely RM6bil flood tunnel job winners
Economy to grow 5.3% in 3Q24 on manufacturing
New Zealand banking competition is fragmenting, says ASB Bank
Johor Plantations to focus on driving efficiency
Izham’s contract with Malaysia Airlines extended

Others Also Read