KUALA LUMPUR: Sime Darby Bhd has decided to shelve its initial public offering (IPO) plan for its healthcare business, Ramsay Sime Darby Health Care Sdn Bhd (RSDHC).

       It was reported earlier that the group is eyeing to list its healthcare arm on the main market of Bursa Malaysia valued at US$300mil (RM1.25bil).

       Sime Darby chief executive officer Datuk Jeffri Salim Davidson said the group had decided to put the IPO plan on hold.

       “We are putting that project on hold. We are looking at various opportunities to grow our healthcare business,” he told reporters after a media conference for its second quarter financial year 2022 results.

       RSDHC was founded in 2013 when Sime Darby and Ramsay Health combined several hospitals in South-East Asia.

       It is a 50:50 joint venture between Sime Darby and Australia’s Ramsay Health Care.

       RSDHC runs six premium hospitals in Malaysia, including the Subang Jaya Medical Centre, and Indonesia as well as a day surgery facility in Hong Kong.