Shareholders give nod to Damansara Realty's unit sale

  • Corporate News
  • Friday, 21 Sep 2018

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KUALA LUMPUR: Damansara Realty Bhd's shareholders have approved the sale of its 70% stake in Healthcare Technical Services Sdn Bhd to Damansara Assets Sdn Bhd for RM11.04mil

Damansara Assets is a wholly owned subsidiary of Johor Corp, which currently holds the remaining 30% stake in Healthcare Technical Service via another subsidiary, Kumpulan Perubatan (Johor) Sdn Bhd.

In a statement, Damansara Realty said the transaction wll help to optimise and restructure its resources and offering after the transformation in streamlining its core business.

“We are pleased with the successful conclusion of this transaction which accelerates the reinvestment in our business.

“DBhd will continue to grow its project management consultancy (PMC) segment by broadening its offerings in project management service. We are looking to expand to other sectors such as property development, transportation and oil & gas,” said Damansara Realty group managing director Brian Iskandar Zulkarim.

According to the statement, Damansara Realty will continue as the master planner for the Gerehu General Hospital in Port Moresby, Papua New Guinea, with an estimated gross development value (GDV) of RM1bil as well as collaborate with Axventure Sdn Bhd in developing a hospital for Universiti Teknologi MARA (UiTM) in Puncak Alam, Selangor. 

As at 12.30pm, Damansara Realty was untraded on the stock exchange.It closed at 35 sen a share on Thursday.
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