DBS halting RI healthcare

Wed, 09 Dec 1998 | Source: DJ

SINGAPORE (Dow Jones): Singapore property developer DBS Land Ltd. said Tuesday it is halting a project to develop a healthcare facility in Surabaya, East Java.

The company said wholly owned unit Premier Health Corporation International Pte. Ltd. no longer considers its investment in PT Regency Laguna Jasamedika, which was set up for the project, to be viable as a result of the economic turmoil and political uncertainties.

DBS Land said it is winding up its 70 percent investment in the Indonesian company and discontinuing the project.

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