Malaysian tycoon Jeffrey Cheah's Sunway Healthcare starts work on $196M Johor hospital
Sunway Healthcare, part of billionaire Jeffrey Cheah's Sunway Group, has broken ground on an RM800 million (US$196.2 million) hospital in Johor, its first in the southern Malaysian state.
Malaysian billionaire Jeff Cheah's Sunway Healthcare has commenced construction on a $196 million, multi-specialty tertiary hospital in Johor. The Sunway Medical Center Iskandar Puteri is set for completion in 2030 and will feature over 400 beds and employ more than 1,400 healthcare professionals. The hospital will be nestled within Sunway City Iskandar Puteri, a sprawling 2,000-acre township in Johor with around 7,000 residents.
The surrounding area, launched in 2014, has seen more than 30% development with approximately 2,000 residential units sold. Johor State Investment, Trade, Consumer Affairs and Human Resources Committee Chairman Lee Ting Han highlighted the potential for the hospital to attract additional investment and talent to the Johor-Singapore Special Economic Zone during the groundbreaking ceremony.
Cheah, Sunway Group's founder and chairman, emphasized the importance of quality healthcare to sustain Johor's growth, stating their commitment to building a trusted medical institution that would serve Johor and the wider region for generations. Sunway Healthcare plans to expand its footprint in Johor with the Sunway Fertility Centre at Sunway Citrine in 2027 and the Sunway Ambulatory Care Center near the Rapid Transit System (RTS) Link with Singapore in 2028, potentially adding elder-care facilities by 2032.
By then, the firm aims to operate eight hospitals across Malaysia, collectively accommodating more than 3,400 beds. Launched on Bursa Malaysia's Main Market in March, Sunway Group reported a net profit of RM111.48 million on nearly RM1.26 billion in revenue for the six months ended June 30, reflecting a 39% and 27% increase respectively from the previous year.
Cheah, ranked as Malaysia's eighth richest billionaire by Forbes in late April, possesses an estimated net worth of $5.3 billion.
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