KUALA LUMPUR (Dec 16): YNH Property Bhd (YNH) is planning to sell one of its medical institutions, Pantai Hospital Manjung in Perak, to Pantai Medical Centre Sdn Bhd (PMC) for RM63 million.

The group, through its wholly-owned subsidiary YNH Hospitality, said it is currently in talks with PMC for the sale of the five-storey hospital facility.

YNH said the move was in response to a letter by PMC on Nov 25, which expressed the latter’s interest to acquire the property, it said in a filing with Bursa Malaysia yesterday.

Shares of YNH rose 1.33% or two sen to settle at RM1.52 yesterday, for a market capitalisation of RM788.01 million.

This article first appeared in The Edge Financial Daily, on Dec 16, 2016. Subscribe to The Edge Financial Daily here.

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