2 days ago
- Business
- New Straits Times
NSCMH to raise RM45mil for new hospital block
SEREMBAN: NSCMH Holdings Sdn Bhd has launched a private placement to part-finance Phase 2 of CMH Specialist Hospital's redevelopment, which includes a new medical block.
The exercise targets RM45 million via the issuance of 18 million new shares, covering 30% of the project's RM120 million construction cost.
The remaining RM80 million will be financed through bank borrowings, personally guaranteed by Negri Sembilan Chinese Maternity Association (NSCMA) president Datuk Seri Lee Tian Hock, with corporate guarantees from the NSCMA and NSCMH Holdings.
Lee became the first subscriber with an RM25 million investment for 10 million shares. The Seremban Wah Chai Association and Negeri Sembilan Persatuan Hainan pledged their support with investments of RM1 million and RM250,000, respectively.
The private placement is now open at RM2.50 per share, with a minimum subscription of 100,000 shares. The subscription period runs until Sept 6.
Eligible subscribers include members of the NSCMA, employees, and group members of the Association, as well as attending doctors of CMH Specialist Hospital and CMH Dialysis Care.
Upon completion of the exercise, the NSCMA will retain a controlling stake of 69 per cent in the company.
Lee had conducted the briefing, outlining the mechanics of the placement and the hospital's long-term development blueprint and answering questions from attendees.
He assured that should the subscription be oversubscribed, he would reduce his portion to accommodate others.
However, if undersubscribed, he would take up the balance to ensure the success of the exercise.
"This is not only a fundraising initiative but also a commitment to social responsibility.
"By leading with my own investment, I hope to inspire confidence and drive collective participation towards the success of this private placement," he said.
The company started the first phase of the project in March this year, which is expected to be completed by the end of October.
Lee said the two phases will ensure that the hospital can handle the increasing traffic volume and meet the growing medical needs of patients.
"These two phases symbolise our transformation from a traditional 'survival mode' into an 'upgrading and development mode', shifting from preservation to expansion," he added.
Lee described the initiative as more than a fundraising effort, calling it "a once-in-a-century opportunity" for every stakeholder of the hospital to play a part in its next century of growth.
