By DayakDaily Team
KUCHING, Oct 16: Sarawak-based property and infrastructure developer Ibraco Berhad has today signed a Memorandum of Agreement (MoA) with Health Management International Pte Ltd (HMI Medical) to support the development of Regency Hospital Kuching, a new private specialist hospital within the NorthBank township.
Under the MoA, HMI Medical will develop a tertiary hospital, fully owned and operated by the group, featuring a 300-bed smart specialist hospital, targeted to open in 2029.
The announcement was made at the Sarawak Mega Fair 2025 at the Suntec Convention & Exhibition Centre, Singapore, where the collaboration was formalised through the MoA exchange, witnessed by Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
Headquartered in Singapore, HMI Medical is a leading regional healthcare provider with operations in Malaysia, Singapore, Indonesia, and Vietnam. With over 27 years of experience in healthcare delivery in Malaysia, the group operates established specialised hospitals including Mahkota Medical Centre in Melaka and Regency Specialist Hospital in Johor, contributing significantly to the growth of private healthcare and medical tourism since 1998.
According to a media release, the hospital will address the rising demand for advanced healthcare services in Kuching, across Malaysia, and the wider Southeast Asia region.
To facilitate the hospital’s development, Ibraco has entered into a Share Sale Agreement (SSA) with Kuching Health Holdings Sdn Bhd, a wholly owned subsidiary of HMI Medical, to sell its 100% equity interest in NorthBank Specialist Hospital Sdn Bhd, comprising 600,000 ordinary shares, for a total cash consideration of RM900,000.
The Proposed Disposal is expected to complete within six months from the SSA date. Upon completion, NorthBank Specialist Hospital will cease to be an Ibraco subsidiary and will enter a Sale and Purchase Agreement with Ibraco for the acquisition of 4.2 acres of leasehold land, earmarked for the construction of Regency Hospital Kuching.
Datuk Chew Chiaw Han, Group Managing Director of Ibraco, said: “We are honoured to contribute to the expansion of Sarawak’s healthcare sector and the state’s broader social and economic progress. Regency Hospital Kuching represents more than a healthcare facility, it reflects our shared vision of creating lasting community value through sustainable township development.
“NorthBank was designed as an integrated, self-sustaining township, combining homes, businesses, education, and lifestyle conveniences in one ecosystem. Entrusting the hospital’s development to a reputable healthcare group like HMI Medical ensures successful delivery and instills confidence among residents and investors.
“A modern, well-equipped hospital within NorthBank will provide convenient access to quality specialist care for residents and neighbouring communities. It will also attract professionals, families, and retirees seeking a vibrant living environment, enhancing the township’s long-term appeal.”
Chin Wei Jia, Group CEO of HMI Medical, said: “We are excited to establish Regency Hospital Kuching within NorthBank township, given Sarawak’s strong growth, increasing international connectivity, and rising demand for advanced healthcare.
“The 300-bed Regency Hospital Kuching will offer comprehensive specialist and subspecialty care, supported by advanced smart hospital systems, state-of-the-art technology, and internationally benchmarked clinical standards. Beyond addressing growing healthcare needs, the hospital will create over 1,000 jobs and provide cross-training opportunities for clinical professionals, fostering excellence in patient-centered care.”
Dr Richard Chew, Senior Surgeon and Board Director of HMI Medical’s hospitals in Malaysia, added: “As a Sarawakian and long-time board member of HMI Medical, I am proud to give back to my community by leading the establishment of Regency Hospital Kuching. This initiative will create new opportunities for economic growth and prosperity, positioning Sarawak and Malaysia as premier destinations for medical tourism in Southeast Asia.” — DayakDaily
