Monday, July 16, 2012

AZRB picks Teraju's Advance Pact under RM600m deal

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/7/16/business/20120716184655&sec=business

Published: July 16, 2012

KUALA LUMPUR: Ahmad Zaki Resources Bhd's (AZRB) unit has appointed Advance Pact Sdn Bhd - a company under Unit Peneraju Agenda Bumiputera (Teraju) - to provide hospital facilities management services under a RM600mil deal.

Under the agreement signed on Monday, AZRB's Advance Pact would provide the services to International Islamic University Malaysia (IIUM) Teaching Hospital in Kuantan for 21 1/2 years, starting in 2015. In September last year, the Ministry of Higher Education and IIUM, signed a 25-year concession agreement with PenMedic for the development of the IIUM Teaching Hospital through the private finance initiative (PFI). This would be under a design, build, lease, maintain and transfer basis.

Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said the government was "delighted to see good Bumiputera companies with specialised skills and strong track record collaborating in a high value sector such as healthcare".

He added the government hoped to see more large Bumiputera companies playing an anchor role in supporting the business growth of other TERAS companies.

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