LYC forms joint venture with SOG


In a filing with Bursa Malaysia, LYC said its wholly-owned subsidiary LYC Mother & Child Centre Sdn Bhd (LYCMC) had entered into a joint-venture agreement with SOG to incorporate a special-purpose vehicle (SPV), provisionally to be called LYC-SOG Mother & Child Centre Sdn Bhd, for the purpose of setting up the postpartum confinement centre.e

PETALING JAYA: LYC Healthcare Bhd is tying up with Singapore O&G Ltd (SOG) to establish a postpartum confinement centre of up to 130 beds in Johor.

In a filing with Bursa Malaysia, LYC said its wholly-owned subsidiary LYC Mother & Child Centre Sdn Bhd (LYCMC) had entered into a joint-venture agreement with SOG to incorporate a special-purpose vehicle (SPV), provisionally to be called LYC-SOG Mother & Child Centre Sdn Bhd, for the purpose of setting up the postpartum confinement centre.

LYC said the parties will contribute RM4mil as its initial capital, in proportion to the shareholdings of the SPV.

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