TWL Holdings inks MoA to acquire stakes in UMSB, DSSB

KUALA LUMPUR: TWL Holdings Bhd has signed a memorandum of agreement (MoA) with Mohamad Shohor Mahamud and Wan Abdul Halim Abdul Majid to acquire a 60 per cent interest in two notable entities.

The two entities were namely Urban Masterpiece (KMN) Sdn Bhd (UMSB) and Dunia Sejahtera Sdn Bhd (DSSB).

According to TWL Holdings, this strategic acquisition is a platform for the company to significantly expand its role in developing private healthcare infrastructure, specifically private hospitals.

The acquisition, slated to be free of encumbrances, comes with all attached rights.

"This acquisition positions us to leverage the long-term growth of the healthcare industry.

"Both UMSB and DSSB, being the hospital property developer and license holder, respectively, will propel our growth trajectory," TWL Holdings managing director Shirley Tan Lee Chin said in a statement today.

UMSB is a private company and has obtained the right to be the property developer on a private hospital project that includes 160 beds and 20 units of three-storey shop offices on a 5.9-acre land parcel in Terengganu.

This follows UMSB's successful negotiation of a Land Development Agreement with the Terengganu State Heritage Trust Fund Board in December 2020.

Meanwhile, DSSB holds the hospital license, having successfully secured all necessary hospital operating licenses.