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Wednesday, July 8, 2015

Johor Crown Prince is substantial shareholder in Singapore tycoon's TMC healthcare group

Johor Crown Prince is substantial shareholder in S'pore tycoon's  TMC healthcare group
PETALING JAYA: Johor Crown Prince Tunku Ismail Sultan Ibrahim (pic) has emerged as a substantial shareholder in healthcare operator TMC Life Sciences Bhd, holding a 7.67% stake or 133 million shares.
TMC is controlled by Singaporean tycoon Peter Lim Eng Hock, who owns 70.5% of the company.
The shares were alloted to Tunku Ismail as a result of the completion of the sale and purchase agreement entered into between Best Blend Sdn Bhd and TMC.
Best Blend is 70%-owned by Lim and 30% by the Crown Prince.
TMC had earlier entered into an agreement with Best Blend to acquire the entire issued and paid-up share capital of BB Waterfront Sdn Bhd for RM400mil.
BB Waterfront is the owner of Thomson Medical Centre, a medical hub project sited on 1.6ha of freehold land in Johor Baru.
The acquisition is to be settled by the issuance of 533.33 million new TMC shares at an issue price of RM0.75 per share, together with 266.66 million free warrants.
The medical hub will include a hospital named Iskandariah Hospital.
Also located with the hospital is an outpatient medical centre that will have 400 clinic suites.
The land has been approved for a hospital development for up to 272 beds.
TMC ended yesterday down 0.5 sen to 55 sen on a volume of 1.41 million shares. - ANN

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