1.0 Introduction

The Board of Directors of Sunsuria Berhad (“Sunsuria” or the “Company”) is pleased to announce that Icon Sunsuria Sdn. Bhd. (“Icon Sunsuria”) had on 17 October 2023 entered into a partnership with Island Hospital Sdn. Bhd. (“IH”) via a professional service and operating contract (the “Contract”) on the launch of Icon Sunsuria’s first cancer centre in Penang, targeted to open in early 2024.

IH and Icon Sunsuria are collectively referred to as the “Parties".

2.0 Information on Icon Sunsuria

Icon Sunsuria was incorporated in Malaysia under the Companies Act 2016 on 29 August 2023. Reference is made to the earlier announcement made on 14 September 2023 in respect of the joint venture between Sunsuria Healthcare Sdn. Bhd. and Icon Asia Holdings Pte. Ltd. whereby Icon Sunsuria is 70% owned by Icon Asia Holdings Pte. Ltd. while the remaining 30% interest is held by Sunsuria Healthcare Sdn. Bhd. Sunsuria Healthcare is a wholly-owned subsidiary of Sunsuria Arena Sdn. Bhd., which in turn is a wholly-owned subsidiary of Sunsuria.

Icon Sunsuria aims to provide access to quality cancer care and improve the well-being of patients and their families, by establishing cancer centres across Malaysia via strategic partnerships with local healthcare operators.

3.0 Information on IH

IH was incorporated in Malaysia under the Companies Act 1965 on 17 November 1994 and having its registered address at Suite 18.05, MWE Plaza, No. 8, Lebuh Farquhar, 10200 Georgetown, Pulau Pinang, Malaysia. The principal activities of IH are rendering hospital and healthcare services.

4.0 Details of the Partnership 

The primary objective of the Partnership is for the Parties to combine their efforts, resources and expertise, providing services such as oncology consults, medical oncology treatment including chemotherapy, targeted therapy, immunotherapy, radiation therapy consults and treatment and nuclear medicine and PET services, (the “Services”) respectively. The Parties will be sharing the revenue attributable to the Services.

5.0 Rationale for the Partnership  

The strategic partnership between IH and Icon Sunsuria will combine Icon Sunsuria's regional oncology expertise, extensive local and regional resources, together with the robust network and best in-class infrastructure of IH, one of Malaysia’s leading internationally accredited private hospitals and a premier medical tourism destination. 

This Partnership delivers world-class, evidence-based cancer treatment that attracts regional medical tourism. By partnering with IH's dedicated professionals and cutting-edge medical equipment, this Partnership reflects Icon Sunsuria's commitment to providing world-class cancer care and improving access to quality cancer treatment for patients in Malaysia and the greater South ASEAN region.

6.0 Effects of the Partnership

The Partnership will not affect the Company’s share capital or substantial shareholders’ shareholding. 

The Partnership is not expected to have a material effect on the financial performance of Sunsuria Group for the financial year ending 30 September 2024. 

7.0 Approvals Required  

The Partnership does not require approval from Sunsuria’s shareholders or any relevant authorities. 

8.0 Interest of Directors, Major Shareholders and/or Persons Connected with Them 

None of the directors, major shareholders of Sunsuria Group, or persons connected with them have any direct or indirect interests in the Partnership. 

This announcement is dated 17 October 2023.