KUALA LUMPUR (June 26): Jentayu Sustainables Bhd (KL:JSB) announced on Friday that it is exiting the healthcare business by divesting its entire stake in Ultimate Forte Sdn Bhd (UFSB) to Lourdes Medical Centre for RM1.75 million. UFSB operates the 30-bed Ohana Specialist Hospital in Kuala Lumpur, which specialises in paediatrics and obstetrics and gynaecology.
In June 2021, Jentayu, then known as Ipmuda Bhd, proposed a rights issue to fund renewable energy and healthcare projects. The acquisition of the hospital was completed in February 2022 for RM18 million. In a filing with Bursa Malaysia, the company said the divestment is part of its plan to focus on its core renewable energy business.
UFSB reported a net loss of RM2.05 million for the financial year ended June 30, 2025, with net liabilities of RM7.22 million. Net liabilities stood at RM7.22 million for the year.
Lourdes Medical Centre is fully owned by Rayyan Medical Services Sdn Bhd.
Jentayu said the deal, which does not require shareholder approval, saw Lourdes Medical Centre’s sole director Datuk Muhammad Rayyan Abdullah taking over the hospital’s management and operations on April 20, 2026. Muhammad Rayyan is also a director of UFSB, the seller. The transaction is not classified as a related party deal.
Jentayu will also assume RM1.18 million in liabilities owed to UFSB’s creditors up to April 20, 2026. Jentayu said it expects to record a gain of RM2.37 million from the sale, after taking into account UFSB’s net liabilities.
Jentayu’s healthcare venture has not been without its drawbacks faced challenges after the hospital was closed for more than two months, slightly over a year after its acquisition, following the Ministry of Health’s revocation of its licence for non-compliance with operating requirements.
The healthcare segment contributed about 57% of the company’s revenue in the first quarter ended March 31, 2025, but accounted for nearly 29% of the RM4.19 million net loss reported by the company during the quarter.
Jentayu’s shares were unchanged at 25.5 sen on Friday, valuing the company at RM138.8 million.Year-to-date the stock is down 13.56%.