PETALING JAYA (Sept 28): Sunway Healthcare Holdings Bhd said its 99.9%-owned subsidiary has signed an agreement to buy an approximately 2.1-acre freehold parcel in Bandar Seremban, Negeri Sembilan, for RM10.789 million from a related company.

Sunway Medical Centre Sdn Bhd signed the sale and purchase agreement with Sunway Sentral Seremban Sdn Bhd on Friday. The agreement supersedes a letter of offer accepted in May.

The site forms part of a larger tract. The purchase is conditional upon an individual freehold title being issued for the subdivided parcel in the seller’s name. The condition is to be fulfilled within 18 months from the SPA date, with an automatic three-month extension.

Under the agreement, Sunway Medical Centre undertakes to develop and operate a medical centre as the site’s primary use, subject to the approved development order and applicable regulatory approvals, including those required from the Ministry of Health.

Sunway Healthcare expects the purchase and transfer of the land to be completed in the first quarter of 2028.

The deal is a related-party transaction because the seller is 70%-owned by Sunway City Sdn Bhd, which also holds a 69.4% stake in Sunway Healthcare. Sunway City is wholly owned by Sunway Bhd.

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