Singapore O&G has entered into a joint venture (JV) agreement with LYC Mother & Child Centre, a wholly-owned subsidiary of f LYC Healthcare for the purpose of setting up a postpartum confinement centre of up to 130 beds in Johor, Malaysia.
In a filing to SGX dated March 18, Singapore O&G stated that a special purpose vehicle will be set up for the proposed confinement centre, with O&G and LYC Mother & Child Centre owning 49% and 51% stakes respectively.
The proposed confinement centre will provide postpartum confinement care and related services catering to both Malaysian and Singaporean customers who wish to spend their post-childbirth confinement period in Johor. The JV agreement also provides for the establishment of similar centres in Malaysia, as may be agreed by Singapore O&G and LYC Healthcare.
