Eastern & Oriental Bhd (E&O) has teamed up with Cengild Medical Bhd and Skyspring Sdn Bhd to develop a multi-disciplinary tertiary private hospital within the Gurney Green district of Andaman Island, Penang.
The proposed facility, with an estimated development cost of RM350 million, will be built in two phases and is expected to accommodate about 240 beds upon completion. The project is targeted for completion by the fourth quarter of 2029.
E&O said its wholly-owned subsidiary, KCB Holdings Sdn Bhd, has entered into a conditional joint venture agreement with Cengild Medical and Skyspring for the development. Under the arrangement, KCB Holdings will hold a 30% stake in the joint venture company, while Skyspring and Cengild Medical will own 45% and 25% respectively.
The joint venture company will establish a wholly-owned operating entity to oversee the development, establishment and operation of the hospital.
Cengild Medical, known for its expertise in digestive system and abdominal health, will contribute clinical, operational and strategic management support to the project and future hospital operations.
E&O managing director Kok Tuck Cheong described the collaboration as another significant milestone in the transformation of Andaman Island into a vibrant waterfront township.
He said healthcare is an essential component of a sustainable community, adding that the proposed hospital will enhance the overall ecosystem of Andaman Island and strengthen its long-term appeal as a destination for families, professionals and retirees seeking a high quality of life.
