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


  • Business Premium
  • Monday, 16 Mar 2015

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.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Ringgit opens higher as Omicron revealed to be less deadly Premium
Berjaya Sports Toto's luxury car segment to cushion slower NFO recovery Premium
Investor caution on Bursa caps rebound momentum Premium
Trading ideas: Atlan, Cypark Resources, CIMB, Ireka, TAFI Industries and Yinson Premium
Study suggests Pfizer COVID-19 vaccine may only partially protect against Omicron Premium
Oil CEOs raise alarm over market's readiness to drop fossil fuels Premium
Oil rises 3%, extending rally as Omicron fears retreat Premium
Omicron sets back airline industry's recovery hopes Premium
GLOBAL MARKETS-Bulls take charge as Omicron concerns ease Premium
Decision on 5G model next month Premium

Others Also Read


Vouchers