Singapore’s GIC buying 16% stake of Sunway Healthcare for RM750m

Sunway said Greenwood’s investment will allow the proposed Sunway Healthcare Group to accelerate its intended expansion plans while prudently managing the financial risk profile of both the proposed Sunway Healthcare Group and the Sunway Group.

KUALA LUMPUR: Singapore’s sovereign wealth fund GIC (Ventures) Pte Ltd is investing RM750mil for a 16% stake in Sunway Group’s healthcare business which will enable the latter to accelerate the expansion of its medical facilities including building new hospitals.

In a statement on Wednesday, Sunway Bhd said Greenwood Capital Pte Ltd – an indirect unit of GIC Ventures – had entered into a share subscription agreement to acquire the stake in Sunway Healthcare Sdn Bhd.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Wall St eyes higher open ahead of inflation data as bank fears fade
US weekly jobless claims rise moderately; fourth-quarter GDP trimmed
MyEG inks deal with China Customs on cross-border trade connectivity
Federal govt debt could be fully settled in 2053: MoF
Pharmaniaga only manages 35% of government’s pharmaceutical spending
Ringgit closes lower against US dollar on lack of catalysts
UEM Sunrise's Azmy Mahbot to take on CFO duties during transition period
Tanco wins RM43.37mil contract for ECRL project
PTT Synergy acquires Pembinaan Tetap Teguh for RM152mil
Berjaya Assets sells 0.36% equity interest in 7-Eleven for RM7.58mil

Others Also Read