PETALING JAYA: IHH Healthcare Bhd’s indirect subsidiary, Pantai Medical Centre Sdn Bhd (PMCSB), which is currently leasing a five-storey building from YNH Property Bhd to operate Pantai Hospital Manjung in Perak, is buying the building as well as the 19,986-sq-m land where it sits on for RM63mil. The healthcare service provider told Bursa Malaysia that PMCSB had signed an agreement with YNH Property’s units - YNH Hospitality Sdn Bhd and Kar Sin Bhd - on Thursday to acquire the freehold land in Seri Manjung and purpose-built private hospital with 384 surface car parks erected on it. “The proposed acquisition is expected to result in rental savings in the long run. Furthermore, the proposed acquisition will enable PMCSB to enjoy appreciation in the value of the property in the future,” IHH Healthcare said in the filing. PMCSB has been leasing the property since 2014.

Source: The Star January 26, 2017 22:38 UTC