Damansara Realty streamlines core business
Focus Malaysia 21 Sep 2018 16:07
Damansara Realty Bhd (DBhd) shareholders today approved the sale of its 70 percent stake in Healthcare Technical Services Sdn Bhd (HTS) to Damansara Assets Sdn. Bhd. (being the nominated company for Johor Corporation (JCorp)) which offered to buy the stake for RM11.04 million. JCorp has held 30 percent stake in HTS via its subsidiary, Kumpulan Perubatan (Johor) Sdn. Bhd.
This exercise will enable DBhd to take a strategic step towards optimising and restructuring its resources and offerings, after the transformation in streamlining its core businesses, DBhd said in an announcement to Bursa today.
“We are pleased with the successful conclusion of this transaction which accelerates the reinvestment in our business” said DBhd Group Managing Director, Ts. Brian Iskandar Zulkarim.
“DBhd will continue to grow its project management consultancy (PMC) segment by broadening its offerings in project management service. We are looking to expand to other sectors such as property development, transportation and oil & gas” Ts. Brian said.
In line with its growth plan in PMC segment, DBhd will now continue as the Master Planner for the Gerehu General Hospital, Port Moresby, Papua New Guinea, with an estimated gross development value (GDV) of RM1 billion as well as collaborating with Axventure Sdn. Bhd. in developing a hospital for Universiti Teknologi MARA (UiTM) in Puncak Alam, Selangor.
*Ts. stands for the title of ‘Professional Technologist’ awarded by the Malaysia Board of Technologists (MBOT).