Ibraco Berhad, a Sarawak-based property developer, has signed a Memorandum of Agreement with Health Management International (HMI Medical) to establish a new private specialist hospital in Kuching, Sarawak. The Regency Hospital Kuching, set to open in 2029, will be a 300-bed facility located within The NorthBank township, designed to address the increasing demand for advanced healthcare services in the region.
HMI Medical, a Singapore-headquartered healthcare provider with a strong presence in Malaysia, Singapore, Indonesia, and Vietnam, will fully own and operate the hospital. The project is part of HMI Medical’s commitment to enhancing healthcare access and quality in Southeast Asia. “With the strong growth of Sarawak, its increasing international connectivity and growing demand for advanced healthcare services, we are excited to establish the Regency Hospital Kuching,” said Chin Wei Jia, Group CEO of HMI Medical.
To facilitate the hospital’s development, Ibraco has agreed to sell its 100% equity interest in NorthBank Specialist Hospital Sdn. Bhd. to Kuching Health Holdings, a subsidiary of HMI Medical, for $190,000 (RM900,000). This transaction is expected to conclude within six months, after which the hospital will acquire 4.2 acres of land for construction.
The new hospital is anticipated to create over a thousand jobs and offer cross-training opportunities for clinical professionals. Datuk Chew Chiaw Han, Ibraco’s Group Managing Director, expressed pride in contributing to Sarawak’s healthcare sector and broader economic progress. The announcement was made during the Sarawak Mega Fair 2025 in Singapore, marking a significant step in the region’s healthcare development.
