KUALA LUMPUR (Feb 16): Sime Darby Bhd has put plans to spin-off its healthcare unit on the backburner, group chief executive officer Datuk Jeffri Salim Davidson said during a virtual briefing on Wednesday (Feb 16), but did not elaborate on the reason for the delay.

“We are looking at various opportunities to grow the healthcare business, but the IPO (initial public offering) [for the healthcare unit] is on hold at the moment,” Jeffri said at the group’s second quarter financial performance ended Dec 31, 2021 (2QFY22) briefing.

In October 2020, Sime Darby said it was mulling the listing of its 50:50 joint venture healthcare unit, Ramsay Sime Darby Health Care Sdn Bhd (RSDHC) in 2021. Set up in 2013, Sime Darby jointly owns the healthcare unit with Australia’s largest hospital operator Ramsay Health Care Ltd.

It was reported that RSDHC could raise up to US$300 million (RM1.2 billion) in its flotation exercise.

In August last year, Jeffri said the planned IPO for the healthcare unit was still on the cards, but did not divulge the timeline of the listing.

Shares in Sime Darby were down three sen or 1.3% to RM2.25 at 4.15pm, giving it a market capitalisation of RM15.32 billion

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