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