Parkway Holdings, the Singapore hospital operator, said it will lease and operate a 200 million-ringgit ($83.2 million) private hospital that will be built in Kota Kinabalu in Malaysia’s eastern Sabah state.
Parkway, controlled by Malaysia’s Khazanah Nasional, signed an agreement with Jesselton Wellness Sdn., a special-purpose vehicle set up to develop the hospital that is part-owned by an investment arm of Sabah’s state government, the company said in a statement.
Danajamin Nasional, a Malaysian state bond insurer, will guarantee 200 million ringgit of notes that will be issued to finance the project, it said.
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