TWL Holdings Bhd (formerly Tiger Synergy Bhd) has today made a strategic move by signing a memorandum of agreement (MoA) with owners of two private companies to participate in the development of specialist hospital and related infrastructure.
The MOA was inked with Mohamad Shohor Mahamud and Wan Abd Halim Abd Majid, entailing the proposed acquisition of a 60% interest in two notable entities, Urban Masterpiece (KMN) Sdn Bhd and Dunia Sejahtera Sdn Bhd.
This strategic acquisition serves as a platform for TWL to significantly expand its role in developing private healthcare infrastructure, specifically private hospitals. The acquisition – slated to be free of encumbrances – comes with all attached rights.
UMSB is a private company and has obtained the right to be the property developer for a private hospital project that includes 160 beds and 20 units of three-storey shop offices on a 5.9-acre land parcel in Terengganu.
This follows UMSB’s successful negotiation of a land development agreement with Lembaga Tabung Amanah Warisan Negeri Terengganu (LTAWNT) in December 2020.
Meanwhile, DSSB holds the hospital license, having successfully secured all necessary hospital operating licenses.
“This proposed acquisition positions us to leverage the long-term growth of the healthcare industry,” commented TWL’s managing director Shirley Tan Lee Chin. “Both UMSB and DSSB, being the hospital’s property developer and license holder respectively, will propel our growth trajectory.”
At the close of today’s trading, TWL was unchanged at 4.5 sen with 4.51 million shares traded, thus valuing the company at RM184 mil. – May 9, 2023
