Why has Faber to give up 60% of Sabah and Sarawak concessions? (Update)

Health minister Datuk Seri Dr S. Subramaniam withnessing the MoU between Faber Mediserve Sdn Bhd represented by its director Azmir Merican Amir Merican (front right) and health ministry secretary-general Datuk Farida Mohd Ali (front left) on hospital support service concession in Putrajaya. Also present are Group CEO UEM Group Datuk Izzaddin Idris (behind right) . MOHD SAHAR MISNI/The Star

PETALING JAYA: Although integrated facilities management specialist Faber Group Bhd’s long wait for a concession agreement to manage hospital support services in the northern states of Peninsular Malaysia have been settled, questions are now being raised as to why the company has to concede 60% of its stakes to other parties in the Sabah and Sarawak concessions.

Faber was recently awarded a concession to provide support services to government hospitals in Perak, Penang, Kedah and Perlis for 10 years, but the investor community is wondering whether the company has been shortchanged for the longer term since it has to give up stakes in the Sabah and Sarawak concessions.