IMU sale will enable IHH to strengthen core ops

The proceeds will be mainly be used for corporate purposes such as debt repayment, capital expenditure, mergers and acquisitions, investments and working capital.IHH is also expected to pocket a gain of RM902mil from this disposal (carrying amount of IMU as at Dec 31, 2021: RM444mil), which will be treated as one-off due to its non-recurring nature.

KUALA LUMPUR: IHH Healthcare Bhd’s proposed RM1.35bil sale of its medical education arm, International Medical University (IMU), to a consortium of investors is a positive development, say analysts.

Hong Leong Investment Bank (HLIB) Research pointed out that the consortium of investors is led by The Rise Fund (founded by private equity firm TPG) and Hong Leong Group.