Sunway Healthcare buys RM10.79m Seremban site for medical centre

Sunway Healthcare Holdings Bhd, through its 99.9%-owned subsidiary Sunway Medical Centre Sdn Bhd, has signed a RM10.79 million deal to acquire a 2.1-acre freehold parcel in Bandar Seremban, Negeri Sembilan. The site will be developed into a medical centre, with completion expected in Q1 2028.

SUNWAY Healthcare Holdings Bhd said its 99.9%-owned subsidiary, Sunway Medical Centre Sdn Bhd, has signed a sale and purchase agreement to acquire an approximately 2.1-acre freehold parcel in Bandar Seremban, Negeri Sembilan, for RM10.789 million from a related company.

Sunway Medical Centre Sdn Bhd signed the agreement with Sunway Sentral Seremban Sdn Bhd on Friday. The deal supersedes a letter of offer accepted in May. The site forms part of a larger tract, and the purchase is conditional upon an individual freehold title being issued for the subdivided parcel in the seller’s name. That condition must be fulfilled within 18 months from the SPA date, with an automatic three-month extension available.

Under the agreement, Sunway Medical Centre undertakes to develop and operate a medical centre as the site’s primary use, subject to the approved development order and applicable regulatory approvals, including those required from the Ministry of Health. Sunway Healthcare expects the purchase and transfer of the land to be completed in the first quarter of 2028.

The transaction is a related-party deal because the seller is 70%-owned by Sunway City Sdn Bhd, which also holds a 69.4% stake in Sunway Healthcare. Sunway City is wholly owned by Sunway Bhd.