KUALA LUMPUR (Nov 24): IHH Healthcare Bhd, via its indirect 60%-owned subsidiary GHK Hospital Ltd, has awarded the main contract for superstructure works on a private hospital to Hip Hing-Chun Wo Joint Venture (HHCW) for HK$2.48 billion (RM1.07 billion).

In a filing with Bursa Malaysia today, IHH said HHCW is 60% owned by NWS Holdings Ltd, which in turn indirectly owns the remaining 40% stake in GHK.

Under the contract, HHCW will carry out the superstructure works comprising the design, completion and maintenance of the main contract works for the development of a private hospital at Aberdeen Inland, Hong Kong, which was acquired via public tender on March 13, 2013. 

The contract is for a duration of 24 months.

“HHCW has the necessary experience and capability to undertake the contract, submitted a technically acceptable and viable tender and submitted the lowest tender offer,” said IHH.

The group said the contract will not have any impact on its earnings for its financial year ending Dec 31, 2014.

IHH shares climbed 5 sen to close at RM4.96, bringing its market capitalisation to RM40.57 billion.