Sunway Healthcare confident after GIC exit
DAMANSARA: Sunway Healthcare Holdings Bhd is confident of continued investor support following the disposal of Singapore sovereign wealth fund GIC’s remaining five per cent stake in the healthcare group.
Sunway Healthcare Holdings Bhd expressed confidence in continued investor support after Singapore's GIC sold its remaining five percent stake in the healthcare group. The significant share sale, conducted by GIC's investment vehicle, Greenwood Capital Pte Ltd, concluded a portion of the fund's five-year mandate. Local institutions, such as Permodalan Nasional Bhd and the Employees Provident Fund, played a part in absorbing the shares.
Sunway Healthcare executive chairman Tan Sri Dr Jeffrey Cheah stated that GIC's exit would contribute to the stability of the share price. The company remains on track with its expansion plans, including the development of three new hospitals by 2030. Cheah highlighted a significant project in Iskandar Puteri, Johor, with an estimated capital expenditure of RM800 million.
Additionally, Sunway Healthcare's president, Datuk Lau Beng Long, advocated for reasonable reimbursement rates for private hospitals and greater government support for medical tourism in Malaysia.
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