Tuesday 06 Jun 2023
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KUALA LUMPUR (June 22): Sunway Bhd announced in a bourse filing today that trading in its securities will be suspended from 9am tomorrow (Wednesday, June 23), pending an announcement from the group. Its structured warrants will also be suspended at the same time. 

Shares of Sunway rose four sen or 2.3% to close at RM1.78 today, translating into a market capitalisation of RM8.78 billion. It saw some 5.91 million shares exchanging hands.

The Edge Malaysia weekly reported over the weekend, citing sources, that Sunway might sell a strategic stake in its healthcare asset to Government of Singapore Investment Corp (GIC).

It wrote that Sunway might be making an announcement about the sale of between 20% and 25% equity interest in its healthcare business as early as this week, if all went well.

A Sunway spokesperson declined to comment when asked about the possibility of the Singaporean sovereign wealth fund GIC buying into the company’s healthcare unit.

Two separate sources familiar with Sunway, however, said the deal was on the cusp of being concluded.


Edited ByTan Choe Choe
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