KUALA LUMPUR: 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 yesterday, 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 in Hong Kong. The contract is for 24 months.

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

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

This article first appeared in The Edge Financial Daily, on November 25, 2014.