PETALING JAYA: Thomson Medical Group Ltd surged after announcing an integrated project in the Johor-Singapore Special Economic Zone (JS-SEZ), with an estimated gross development value of RM18 billion (US$4.3 billion).
The Singapore-based health-care company, backed by tycoon Peter Lim, announced in a stock exchange filing yesterday that it will develop an integrated private healthcare and real estate project.
The shares jumped as much as 39% to the highest since April 2023 during intraday trading today.
“The 26-acre project in Johor Bay is aimed at accelerating economic growth in the special corridor,” it said in the statement.
Phase one will feature the private Thomson Hospital Iskandariah and a 47-story ultra-luxury residential tower.
The company expects to create over 1,200 direct and indirect jobs during construction and operation, according to the filing.