Sime Darby to divest hospital business, land to reduce borrowings

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Divestment of its joint venture Ramsay Sime Darby Health Care expected to be finalised by first quarter next year.

Sime Darby Bhd sees its hospital business as non-core and is in talks with interested parties to divest it by early next year.

“I think there has been a significant level of interest from quite a number of players,” he said, adding talks are ongoing and that he expects the divestment to be completed by first quarter of next year. The joint venture with Australian partner Ramsay Health Care Ltd encompasses seven hospitals in Malaysia and Indonesia, with a total of 1,500 licensed beds.

Sime Darby had earlier announced a net profit of RM1.46 billion for the financial year ended June 30 , up by 32.2% from the RM1.1 billion recorded last year.

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