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Saturday, January 26, 2013

Faber Group subsidiary to implement new HSS concession (STAR)

KUALA LUMPUR: The government has agreed in principle to a wholly-owned subsidiary of Faber Group Bhd (FGB), Faber Medi-Serve Sdn Bhd (FMS), to implement the new concession in relation to the privatisation of the Hospital Support Services (HSS) for the Northern Region of Peninsular Malaysia (Perak, Penang, Kedah and Perlis).

In a filing to Bursa, FGB said the concession is for a period of ten years.

It is subject to the terms and conditions of the privatisation of the HSS to be negotiated between the government and FMS.

For the Sabah Zone, the government has agreed that the new concession is to be implemented by a new consortium company, of which FMS will hold a 40 per cent equity interest, and 60 per cent by ICare Consortium Sdn Bhd.

For the Sarawak Zone, the new concession is to be implemented by a new consortium company, of which FMS will hold 40 per cent equity interest and the 60 per cent by another consortium company through Metrocare Services Sdn Bhd and the joint venture between Simfoni Dua Sdn Bhd and the Sabah Economic Development Corporation.

The new concession will be for a period of ten years.

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