KUALA LUMPUR, 19 May – Faber Group Berhad (Faber) through its wholly-owned subsidiary, Faber Medi-Serve Sdn Bhd (FMS) today entered into an Asset Management Services (AMS) Agreement with Konsortium Prohawk Sdn Bhd(KPSB) which will see it providing AMS for the Women and Children’s Hospital (WACH) located in Kuala Lumpur.

Under the Agreement, total fees that will be accorded to Faber for providing the AMS services at WACH is approximately RM1.03 billion over a period of 27 years. The services undertaken by FMS include Facility Engineering Management Services; Biomedical Engineering Maintenance Services; Cleansing; Linen & Laundry Service; Healthcare Waste Management Services; Centralised Management Information System; and to attain, maintain and upgrade ISO 9001:2008, ISO 14000, ISO 50001 and ISO 13485 certifications.

The AMS Agreement is conditional upon the Concession Agreement becoming effective and upon obtaining approval of Faber’s shareholders.

WACH is a 600-bed, 12-storey hospital located within the vicinity of Hospital Kuala Lumpur. Once completed, it will replace the current Maternity Hospital Kuala Lumpur ward and will have modern facilities such as creche/nursery, therapy services, specialist clinic, child development centre, paediatric specialist clinics, women health centre, neonatal intensive care units, obstetric wards, emergency department, multi-level car park, cafeteria, shops and a 20-room medi-hotel.

The construction of the hospital has started in September 2013 and is expected to complete in the second half of 2016 which is when Faber’s AMS is expected to commence.

KPSB is a single purpose vehicle incorporated by UEM Group Berhad and Najcom Sdn Bhd with each holding a 65% and 35% stake, respectively. KPSB had on 14 March 2013 entered into a Concession Agreement with the Government of Malaysia to undertake the planning, design, financing, construction, landscaping, equipping, installation, completion, testing and commissioning of the facilities and infrastructure as well as carry out AMS for WACH.

The AMS Agreement will allow Faber to strengthen the Group’s Integrated Facilities Management (IFM) businesses as well as enable Faber to capitalise on its current resources and investments cumulated over the years to achieve greater competencies and efficiencies in its IFM operations. Overall, this AFM Agreement augurs well for Faber with its set strategic direction to be a regional champion for AFM services.