KUALA LUMPUR: Sime Darby Bhd has dropped its plans to buy a 51 per cent stake in Institut Jantung Negara (IJN), bowing to public sentiment on the matter.
The company said the decision was made after feedback it received when the government deferred its decision to allow Sime Darby to begin negotiations with the Ministry of Finance.
IJN is 99.99 per cent owned by the Federal Government.
"We wish to announce that we will not pursue with our plan to acquire an equity stake in IJN. The company arrived at this decision after taking into consideration public sentiment and feedback received," it said in a statement to Bursa Malaysia yesterday.
Sime Darby will continue to look for opportunities to expand in the healthcare sector.
Its plan to buy a controlling stake in the premier heart hospital sparked a major outcry. Many were concerned that the cost of cardiovascular treatment would go up if IJN was privatised.
Since IJN's corporatisation in 1992, it has developed into a leading regional heart centre offering the best-trained hands and most advanced facilities in sophisticated organ transplants and coronary surgeries.
It was financially self-sustaining within a year of operations and made a profit of RM20 million last year.
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Reader's Comments
(Latest Comments Displayed First) |
CK Lee, Ipoh:
Why do they always want to buy only successful ventures and successful and renown brands? If they are so intelligent, please buy all the money loosing ventures and use your brains to turn them around. I cant agree more with Mohamadon. What is the role of the government if they give up their fundamental and basic duty towards health care, infrastructure, education etc. Like what Tun Dr M said we don't need a government. We can go on auto-piloted government. However, Tun was the one who started this privatization nonsense.
Concerned Citizen, PJ:
Talking about PR disaster.
Garry , klang:
IJN belongs to the people , the Rakyat. SIME's plans on taking over has no objective other than as a business venture . IJN is about saving people's lives like me who was there for a bypass operation in Y 2000. Let the professionals at IJN do their jobs and let it be a government entity for the sake of the Rakyat .
Mohamadon, Shah Alam:
Sime Darby or any other parties should not try to buy over the properties of the Rakyat. IJN was built on taxpayers and Rakyat's money. Look at what has happened to the privatised TNB, Telekom, our highways etc. What is the role of the government if they keep absolving themself of their fundamental duty to the Rakyat i.e. education, health and infrastructure? One thing is for sure, there is a lot of money to be made.
Sime Darby or any other parties interested should instead take over all the Pusat Serenti, all rehabilitation centres for wayward children and women, the Mat Rempits if they are really serious about wanting to contribute to nation building and discharge their corporate citizenry in all honesty. After all, they become large and huge due to all the projects given to them from the Rakyat's money.
And to the Chairman of Sime Darby, Y.Bhg. Tun Musa Hitam, I am glad that you still have a heart and a conscience.
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