Monday, 21 February 2011

MARA decides not to buy stake in AMC

PETALING JAYA: Majlis Amanah Rakyat (MARA) has decided not to acquire a 15% equity interest in Academic Medical Centre Sdn Bhd (AMC), which is majority owned by two companies controlled by Tan Sri Dr Mohan Swami.

MARA chairman Datuk Seri Idris Jusoh said in a statement that the agency had reviewed the offer to acquire the stake in AMC and ascertained that “the investment proposal is not in tandem with the current investment structure of MARA”.

StarBiz reported earlier this month that Lembaga Tabung Haji and MARA were in discussions to take up 30% and 15% stakes, respectively, in AMC.

The remaining 55% equity is to be held jointly by Turiya Bhd and Chase Perdana Bhd which are controlled by Mohan.

AMC has a tie-up with John Hopkins Medicine International and Royal College of Surgeons in Ireland to offer courses at the soon-to-be-set-up RM2bil Perdana University Graduate School.

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