Singapore sovereign fund seeks to tap opportunities from Malaysia’s ageing population and rising middle class affluence
30 Jun 2021 |
The Asset
Singapore’s sovereign wealth fund GIC has agreed to acquire a 16% stake in Sunway Healthcare Holdings for 750 million ringgit (US$180.66 million). The deal, which values Sunway Healthcare at close to 4.69 billion ringgit, was finalized on a willing-buyer-willing-seller basis following an evaluation of proposals from various domestic and international investment funds, sovereign wealth funds and private equity firms.
“The overwhelming interest from domestic and international investors is testament to their confidence in the Sunway brand and the track record of our healthcare division in a rapidly growing sector of Malaysia’s economic landscape, says Sunway Group founder and chairman Tan Sri Jeffrey Cheah.
Sunway aims for IPO in 6-8 years after sale of 16% in healthcare unit to GIC for $180m
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GIC to take 16% stake in Malaysia s Sunway Healthcare once $243 million is drawn down
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