Revon Media
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us
No Result
View All Result
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us
No Result
View All Result
Revon Media
No Result
View All Result

IHH to gain RM902m from IMU sale

IHH enters Serbia through Turkish unit
Share on FacebookShare on Twitter

IHH Healthcare Bhd is selling its entire stake in IMU Health Sdn Bhd (IMUH) to Inbound Education Holdings Sdn Bhd (IEHSB) for RM1.24 billion. It is part of a deal to dispose of assets worth RM1.35 billion.

IHH is expected to gain RM901.98 million from the proposed asset disposal.

IHH said the move aligns with the group’s strategy to divest non-core assets and recycle capital by deploying the proceeds to grow its core healthcare delivery services business. Among IHH’s other leading brand names are Acibadem, Mount Elizabeth, Prince Court, Gleneagles, Fortis, Pantai and Parkway.

The move sees Hong Leong Healthcare Group Sdn Bhd, Singapore’s The Rise Fund Inbound SF Pte Ltd and the Employees Provident Fund Board (EPF) taking significant stakes in IMUH through their vehicle IEHSB. IMUH holds IMU Education, IMC Education Sdn Bhd and IMU Healthcare Sdn Bhd.

IEHSB is a wholly-owned subsidiary of Inbound Education Partners Sdn Bhd (IEPSB), which Hong Leong Healthcare owns (45 per cent), The Rise Fund Inbound SF Pte Ltd (45 per cent) and the Employees Provident Fund Board (EPF) (9.99 per cent).

As part of the IMUH disposal, IHH is also selling a hospital that is still under construction in Kuala Lumpur, together with its assets and liabilities, to Columbia Asia Sdn Bhd (CASB) for RM139 million, less an outstanding bank loan amount of RM38 million as of Dec 31, 2021.

CASB is a wholly-owned subsidiary of Columbia Asia Healthcare Sdn Bhd. Their indirect shareholders are Hong Leong Healthcare Group and global alternative asset firm TPG, holding approximately 49.95 per cent each. In 2019, Hong Leong Financial Group Bhd (HLFG) and TPG inked a deal to acquire Columbia Asia Hospitals in South East Asia for US$1.2 billion.

Based on the original cost of investment in IMU Group of RM308.67 million incurred in 2010 and 2011, IHH is expected to gain RM901.98 million from the proposed disposal. Cash proceeds from the deal will be utilised for general corporate purposes (including debt repayment, capital expenditure, mergers and acquisitions, investments and working capital) over the next 12 months.

The proposed disposal is expected to be completed in the first quarter of 2023.

For the financial year ended Dec 31, 2021, IMUH made a consolidated profit after tax and minority interest of RM54.52 million, while its consolidated net assets were RM376.94 million. — The Health

Tags: Local NewsThe Health 2022The Health July/Aug 2022theHealth
Previous Post

Duopharma’s high productivity amidst innovation focus

Next Post

The vaccine saga

Live Edition Paper

NOV 2020 ePaper

OCT 2020 ePaper


 

Subscribe for free complimentary live editions:

Recent News

  • Silent thief of sight
    September 3, 2021
    Glaucoma is one of the leading causes of irreversible blindness but can be […]
  • Prophylaxis pathway to flatten the curve
    October 6, 2021
    There is a compelling additional strategy to flatten the curve but seek medical […]
  • Emeritus Professor titles for top academics
    June 29, 2022
    RECOGNISED for their exemplary academic achievements, medical physicist Prof Dr […]
  • Rediscovering Life – Reboot and refresh
    January 1, 2021
    We need to sustain our mental agility by continuing to stimulate our minds The […]
  • Growing old is inevitable, growing up is optional!
    August 16, 2022
    Live life to the fullest by putting your mind to it by ADI SATRIA  As a group […]

Connect

Office

Revon Media Sdn Bhd
A member of Revongen Corporation
Headquarters
Revongen Corporation Center,
Level 17, Top Glove Tower, No.16,
Persiaran Setia Dagang,Setia Alam,
Seksyen U13, 40170 Shah Alam,
Selangor Darul Ehsan, Malaysia.

Contact

Tel: +603 3359 1166
Fax: +6 03 3358 0303

Copyright © 2021 Revon Media Sdn Bhd. A publication of Revon Media Sdn Bhd. About Us | Contact Us | Privacy Policy | Terms of use

No Result
View All Result
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us

© 2021 Revon Media Sdn Bhd. A publication of Revon Media Sdn Bhd

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist