Nexgram’s unit to develop RM1.6bil medical complex in Melaka

KUALA LUMPUR: Nexgram Holdings Bhd’s (Nexgram) indirect wholly-owned subsidiary, Nexgram Biomedic Sdn Bhd, plans to develop a medical complex in Melaka with a proposed gross development value of RM1.6 billion.

Today it inked an understanding with the Melaka State Development Corporation to acquire 10.02 hectares in Bukit Baru which was earmarked for the development of the Melaka Lifecare Specialist project.

The mixed development project would comprise a hospital building, service small office home office (SoHo) units, a wellness centre, a bioscience research centre, and a three-star hotel and condotel, among others, the company said in a filing with Bursa Malaysia today.

The medical complex is expected to serve the healthcare needs of the wider Asian region.

"This public-private cooperation initiative is in line with the government’s push for technology-based investments which can, in turn, raise the knowledge and digital economic capability and capacity level of Malaysians,” said the ACE Market-listed company.

It said the mixed development was expected to contribute positively to Melaka's Gross Domestic Product, employment and social welfare within the next five to 10 years.

"Further announcement in relation to the proposed sale and purchase will be made in due course, once the details of the terms and conditions have been finalised,” Nexgram said.

Nexgram Biomedic is a biotechnology company dedicated to developing new medical devices, drugs, and technologies in support of innovations in the field of healthcare. - Bernama

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