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    SUNWAY   MYL5211OO007

SUNWAY BERHAD

(SUNWAY)
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Malaysia's Sunway plans to sell healthcare stake to Singapore's GIC - report

06/19/2021 | 12:51am EDT

KUALA LUMPUR, June 19 (Reuters) - Malaysian conglomerate Sunway Bhd is looking to sell a strategic stake in its healthcare business to Government of Singapore Investment Corporation (GIC), The Edge Weekly reported on Saturday.

The weekly, citing two unnamed sources it said were familiar with Sunway, reported that the deal is close to conclusion and Sunway could be selling 20% to 25% of equity in its healthcare business as early as this week.

However it was unclear which healthcare business it would be selling to Singapore's sovereign wealth fund, the report said.

Sunway declined to comment, while GIC did not immediately respond to a request for comment outside of work hours.

Sunway has said in a stock filing in September that it had appointed Maybank Investment Bank to "explore strategic investment options for its healthcare portfolio, in line with the company's objective to enhance shareholder value".

The filing was in response to a Bloomberg report that the group picked Maybank to work on a $250 million stake sale in its healthcare unit, Sunway Medical Centre. (Reporting by Liz Lee; Editing by Raju Gopalakrishnan and William Mallard)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MSCI SINGAPORE (GDTR) -0.31% 6676.641 Real-time Quote.13.35%
SUNWAY BERHAD 0.00% 1.69 End-of-day quote.4.97%
SUNWAY CO., LTD. -0.84% 7.11 End-of-day quote.23.01%
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Financials
Sales 2021 4 580 M 1 085 M 1 085 M
Net income 2021 356 M 84,4 M 84,4 M
Net Debt 2021 4 740 M 1 123 M 1 123 M
P/E ratio 2021 23,9x
Yield 2021 1,76%
Capitalization 8 262 M 1 955 M 1 957 M
EV / Sales 2021 2,84x
EV / Sales 2022 2,44x
Nbr of Employees 11 430
Free-Float 27,7%
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Mean consensus BUY
Number of Analysts 12
Last Close Price 1,69 MYR
Average target price 2,10 MYR
Spread / Average Target 24,0%
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Kia Loke Tan Senior Managing Director
Chee Kin Chew President & Non-Independent Executive Director
Chang Choong Chong Chief Financial Officer
Fook Ling Cheah Co-Chairman
Idris Jala Co-Chairman
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