KUALA LUMPUR: Sunway Healthcare Holdings Bhd (SHH) said its 99.9%-owned subsidiary, Sunway Medical Centre Sdn Bhd (SMC), has proposed to acquire four parcels of freehold land in Sunway City Iskandar Puteri in Pulai, Johor Bahru, measuring about 9.918 acres, for RM45.37mil.
In the related party transaction, the group said the lands will be purchased from Sunway Marketplace Sdn Bhd, Sunway Parkview Sdn Bhd and Sunway Iskandar Sdn Bhd.
SHH said in a Bursa Malaysia filing SMC has proposed to develop a 410-bed hospital on the purchased lands, with an estimated cost of about RM781.6mil, in line with its strategy to expand its network of tertiary hospitals.
According to the filing, Sunway City Iskandar Puteri spans 2,000 acres at the southern tip of Peninsular Malaysia and is strategically positioned just 5km away from the Malaysia-Singapore Second Link via the Coastal Highway Southern Link.
The proposed development is expected to serve as a key healthcare anchor in the integrated township.
"The proposed development expands SHH group’s footprint into the state of Johor, capturing unmet demand for tertiary healthcare in the southern region.
"Over the longer term, the expansion will enhance the value of SHH Group’s portfolio of healthcare offerings," said SHH.
The proposed acquisition will be funded through internal funds and/or bank borrowings and is expected to be completed by the second quarter of 2027.
