KUALA LUMPUR (April 14): TDM Bhd said (KL:TDM) its healthcare arm, Kumpulan Medic Iman Sdn Bhd (KMI), has entered into a deal on Tuesday to build and sublease a new block at its medical centre in Tawau, Sabah.
The two-year agreement was signed by KMI’s wholly-owned unit, KMI Tawau Medical Centre Sdn Bhd, and Tawau Healthcare Sdn Bhd (THSB), a company owned equally by Klinik Obstetrik and Ginekologi Dr Teo Sdn Bhd and VMed Sdn Bhd, according to TDM’s bourse filing.
The project, with an estimated gross development value of RM72 million, involves the development of a new specialist hospital building and refurbishment of the existing facility at KMI Tawau Medical Centre.
It will be undertaken by THSB, with KMI continuing to operate and manage the facility upon completion.
Once the project is completed, the new block will house 59 beds in total planned capacity, said KMI in a statement. Work is expected to be completed within 24 months from the fulfilment of key conditions, with operations targeted by the second quarter of 2028.
“This expansion reflects our commitment to bringing quality, accessible and patient-centred healthcare closer to communities in Sabah,” said KMI chief executive officer Dr Rayney Azmi Ali.
KMI owns four other hospitals, namely KMI Kelana Jaya Medical Centre in Petaling Jaya, KMI Kuantan Medical Centre in Kuantan, KMI Kuala Terengganu Medical Centre in Kuala Terengganu and KMI Taman Desa Medical Centre in Kuala Lumpur.
Shares of TDM Bhd closed down half a sen or 2.3% to 21 sen on Tuesday, valuing the group at RM361.8 million.