Singapore-Indonesia hospital

Singapore-Indonesia hospital

SINGAPORE (AFP): Gleneagles International, which operates one
of Singapore's major private hospitals, has drawn up plans to
build a third joint-venture hospital in Indonesia, it was
announced here.

A statement from Gleneagles said the S$43 million (US$28.2
million) hospital, expected to start in 1996-97, would be a tie-
up with PT Royal Sentul Highlands of Indonesia.

The majority 60 percent stake in the joint venture would be
held by PT Gleneagles Hospital Corporation, a tie-up between
Gleneagles Development, a subsidiary of Gleneagles International
and PT Sentra Goldhill Businesspark, a member of Indonesia's
Lippo Group.

Royal Sentul Highlands will hold the remaining 40 percent
stake in the venture.