Tambun Indah Land Bhd has entered into a memorandum of understanding (MOU) with Show Chwan Medical Care Corp to collaborate in the proposed establishment of Penang Show Chwan Hospital at Pearl City, Penang.
In a filing today, the company said Show Chwan, based in Taiwan, owns and operates eight hospitals with approximately 3,600 beds and more than 5,000 employees in its operations.
“The project is envisaged to be a multi-disciplinary medical centre with approximately 250 beds situated on a four-acre land at Pearl City Business Park.
“The project, if established, shall cater to the population in Seberang Perai Selatan and Seberang Perai Tengah, Penang, which includes various towns such as Simpang Ampat, Valdor, Jawi, Bukit Mertajam, Bukit Minyak and Juru and also several well-established and large scale industrial parks such as the Prai Industrial Park, Penang Science Park and Bukit Minyak Industrial Park,” Tambun Indah said.
Under the MOU, the parties will collaborate on hospital master planning and development, project management and construction, as well as hospital operations, management and infrastructure.
The company’s directors said the MOU is in the best interest of the group, as it provides the opportunity to enhance its potential earnings and improve its long-term growth prospects.
At 12.30pm, Tambun Indah fell one sen or 1.43% to 69 sen, giving it a market capitalisation of RM299.08 million.