UEM Edgenta Receives Approval for Acquisition of Asia Integrated Facility Solutions

December 2, 2016 Press Release No Comments

To Expand Healthcare Services Presence to Singapore and Taiwan

KUALA LUMPUR, 2 December – In an Extraordinary General Meeting held today, shareholders of UEM Edgenta Berhad (“UEM Edgenta” or “Company”) gave their approval for the Company’s proposed acquisition of Asia Integrated Facility Solutions Pte Ltd (“AIFS”) for SGD185.9 million, equivalent to approximately RM563.2 million.

AIFS is the holding company of UEMS Pte Ltd (“UEMS”), which is a well-established facilities management provider with a track record of over 25 years currently servicing over 90 hospitals and healthcare institutions across Singapore, Taiwan and Malaysia. Over the next 5 years, UEMS’ growth strategy includes expansion into other Southeast Asian countries such as Indonesia and Cambodia.

Azmir Merican, UEM Edgenta’s Managing Director / Chief Executive Officer said today, “While UEM Edgenta is already a market leader in the provision of healthcare services to the public sector, this acquisition allows us to capture a leading position in Malaysia’s private healthcare sector and immediately establish our regional presence in Singapore and Taiwan.

“We are confident that both parties can leverage on each other’s core strength and services to create stronger customer networks. UEMS’ business complements the core services of UEM Edgenta, and enables us to adopt and blend our best practices. Together with our strong networks and business opportunities, this culmination will further enhance operating efficiencies in providing holistic healthcare services to both public and private hospitals.”

Azmir also added, “We believe this is a compelling transaction which will deliver positive value to our shareholders. The acquisition will accelerate revenue growth and pave the pathway for UEM Edgenta to take the leadership position in healthcare support services, which will drive growth and scale over a long term period.”