Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, June 24, 2011

Singapore's Healthway snaps up land near KLCC

Kuala Lumpur: A unit of Singapore-listed Healthway Medical Corp Ltd (HMC) has bought a piece of land near the Petronas Twin Towers in Kuala Lumpur for some RM80 million.

Sources told Business Times that the family-owned land, located on 19 Jalan Kia Peng, was sold to Healthcare Medical Corp's associate, Healthway Medical Development (Private) Ltd.

The buyer is said to have paid an estimated RM1,600 per sq ft for the site, measuring a little over 50,000 sq ft. The land is located just behind The Pearl condominium and between Suria KLCC and Pavilion.

A drive by the plot of land revealed that Zerin Properties is the exclusive marketing agent for the land. However, its chief executive officer Previn Singhe, when contacted to confirm the deal, declined to comment.

It was reported last year that the asking price for the piece of land was RM1,800 per sq ft and that it has potential for development.

Incidentally, Healthway Medical Development has incorporated a company called Healthway Medical Centre (KLCC) Pte Ltd. However, it is unclear if this company is related to the land buy in any way.

Healthway Medical Corp is Singapore's largest network of private medical centres and clinics of primary healthcare, dental and specialist services.

Last June, Singapore billionaire Peter Lim Eng Hock emerged as a substantial shareholder in Healthway Medical Corp. However, in October 2010, Lim, known as the Remisier King, ceased to be a substantial shareholder.

Lim made headlines in Malaysia last year when he bought a substantial stake in TMC Life Sciences Bhd. He is now the largest shareholder with 32.59 per cent of TMC, a private healthcare group.

Meanwhile, it was reported two months ago that Lim had bought 14ha of land in Stulang Laut, Johor, for some RM200 million. He was said to be planning to build a Thomson Medical healthcare facility there.

Singapore-listed Thomson Medical was taken private by Lim lastyear. It is described as a leading healthcare service provider in Singapore for obstetrics, gynaecology and paediatric service.

By Business Times

No comments: