Monday 17 Jun 2024
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KUALA LUMPUR (July 7): The Johor crown prince Tunku Ismail Ibni Sultan Ibrahim has emerged as a substantial shareholder holding a 7.67% stake in TMC Life Sciences Bhd, in which Singaporean tycoon Peter controls a 70.5% stake.  

The filing to Bursa Malaysia shows that Tunku Ismail was issued the 133 million TMC Life shares after he sold an indirect 30% stake in BB Waterfront Sdn Bhd.

TMC took over the entire stake in BB Waterfront, a wholly-owned unit of Best Blend Sdn Bhd, for RM400 million by issue of shares. The Johor royalty held a 30% stake and Lim owned the remaining 70% in Best Blend.

BB Waterfront owns Thomson Iskandar, a medical hub project located on 1.6ha in Stulang Laut, which is within 1km radius of the Malaysian CIQ complex located at the Causeway linking Singapore to Johor Bahru.

The medical hub will contain a hospital named “Iskandariah Hospital”. Co-located with the hospital is an outpatient medical centre that will contain 400 clinic suites.

The medical hub will be managed by Thomson International, a subsidiary of Thomson Medical Pte Ltd — a private hospital owner and operator in Singapore

TMC Life (fundamental: 1.45; valuation: 0.9) closed half sen or 0.88% lower at 56 sen today, giving it a market capitalisation of RM979.06 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)


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