Sunway gets approval for two new hospitals

PETALING JAYA: Sunway Bhd, which aims to expand its healthcare division by building five more hospitals, has received approval from the government for the construction of two hospitals.

Speaking to reporters after the group’s EGM today, Sunway founder and chairman Tan Sri Jeffrey Cheah said the group has received approval from the authorities for the construction of medical centres in Sunway Iskandar, Johor, and Sunway Damansara, Selangor, for which construction plans are in the works.

Cheah said Sunway is still “chasing for approval” for the construction of a medical centre in Seberang Jaya, Penang, where one of its hotel and Sunway Carnival mall is located.

“We would want to build a tertiary (referral) hospital. Once the government approves the plan, we will start building,” he added.

Meanwhile, construction of its medical centre in Sunway Velocity, Cheras, is on track and it is expected to be completed next year.

In addition to that, Sunway is planning to build another hospital in Ipoh, which will be in an area that also houses a hybrid mall and serviced apartments.

“There are a lot of people coming to knock on our door, asking (if) you (Sunway) want a partner,” Cheah said on the proposals for partnerships for its medical venture.

“We have not entertained any proposals to be our partners because we believe we can do it ourselves,” he said on the proposals received.

Besides its medical venture, the group is aon the lookout for opportunities to expand its core businesses, by scouting for new talent and opportunities for mergers and acquisitions. It is also looking to expand the technology sector.

Sunway’s construction arm, meanwhile, is aiming to lock in non-inhouse projects worth RM1.5-RM2.5 billion from the tenders it has put out.

As of end June, the construction division’s tender book value stood at more than RM14 billion.

On another note, Cheah said the appointment of Datuk Seri Idris Jala as co-chairman of Sunway Group brings wealth of knowledge, practical hands-on experience, a highly valued reputation and international network, to help steer Sunway to new heights. Idris was appointed to his new role on Aug 11.

Sunway’s share price fell 0.23% to close at RM4.34 today with 4.18 million shares changing hands, bringing the group’s market capitalisation to RM8.92 billion.