Sunway picks Maybank to help RM1bil healthcare unit stake sale

Sunway Medical Centre, founded in 1999, is an accredited private hospital located near Kuala Lumpur, according to its website.

PETALING JAYA: Sunway Group, a conglomerate controlled by Malaysian property tycoon Tan Sri Jeffrey Cheah, has selected Malayan Banking Bhd to help with a stake sale in its healthcare unit that could fetch at least US$250mil (RM1.03bil), according to sources.

The company plans to sell a combination of old and new shares representing a 20% to 25% stake in Sunway Medical Centre Bhd and has reached out to potential suitors, said the sources.