Damansara Realty shareholders approve sale of Healthcare Technical Services stake

PETALING JAYA: Damansara Realty Bhd shareholders approved the sale of its 70% stake in Healthcare Technical Services Sdn Bhd (HTS) to Damansara Assets Sdn Bhd, being the nominated company for Johor Corp (JCorp), for RM11.04 million.
JCorp has held 30% stake in HTS via its subsidiary, Kumpulan Perubatan (Johor) Sdn Bhd.
Damansara Realty said in a statement that this exercise will enable the group to take a strategic step towards optimising and restructuring its resources and offerings, after the transformation in streamlining its core businesses.
“We are pleased with the successful conclusion of this transaction which accelerates the reinvestment in our business,” its group managing director Brian Iskandar Zulkarim said.
“Damansara Realty 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,” he added.
In line with its growth plan in PMC segment, the group will 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.