FRONTPAGE NEWS BUSINESS LIFESTYLE SPORTS WORLD OPINION PROPERTY EDUCATION CARS BIKES TRUCKS ACTIONLINE MULTIMEDIA Sunway to open six more hospitals this year to the tune of RM1 billion

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PETALING JAYA: Sunway Bhd is allocating RM1 billion to open up six more hospitals throughout Malaysia.

“We are expanding our healthcare business to cater to the community’s needs. We’re expanding our current facility in Sunway,” said Sunway Group founder and chairman Tan Sri Jeffrey Cheah.

“We’re opening the next hospital at Sunway Velocity. There will be another at Sunway Damansara, one in Ipoh, two in Penang and one in Sunway Iskandar, Johor. The investments amount to RM1 billion,” he said.

Cheah was speaking to reporters at the launch of HSBC Bank Malaysia’s new branch at Sunway township, here today.

Also present were HSBC Bank Malaysia chief executive officer Mukhtar Hussain, HSBC Amanah Malaysia chief executive officer Arsalaan Ahmed and HSBC Bank Malaysia head of retail banking and wealth management Lim Eng Seong.

Asked on Malaysia’s economic condition, Mukhtar replied it was now more subdued compared to previous years. This is reflected in capital investment and the bank’s loan growth.

However, he noted that the banking system, which is prudent, well regulated, capitalised and backed by strong corporate governance, will help institutions to manage well during these times.

In 2006, Australia New Zealand Bank (ANZ) bought a 23.8 per cent stake in AMMB Holdings Bhd, emerging as the single biggest shareholder.

AMMB founder Tan Sri Azman Hashim is the second biggest shareholder with a 13.8 per cent stake.

A year ago, it was reported ANZ Banking Group is weighing the sale of its 23.8 per cent stake in Malaysia’s sixth biggest banking group, AMMB.

When asked if HSBC Malaysia, as part of its growth plans here​, would consider buying up ANZ’s stake in AMMB, Mukhtar replied, “I would not be able to comment on that.”

Earlier at the opening of the branch office, Sunway head honcho Cheah proudly endorsed the good service of HSBC Group by opening an account in his name.

During the media conference, Cheah paused and looked to his side at Mukhtar, when asked on the amount he had deposited in the new account.

Mukhtar smiled and interjected, “that would remain a client-bank confidentiality,” much to Cheah’s amusement. -NST

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