SINGAPORE - Singapore Medical Group has agreed to set up a joint venture with Indonesia's PT Ciputra Raya Sejahtera to operate an eye specialist clinic in Jakarta.
The Singapore-listed group will put in 4.4 billion rupiah (S$484,000) for a 40 per cent stake, while Ciputra will contribute 6.6 billion rupiah for the remaining 60 per cent.
Ciputra engages in property development and management, including developing hospitals and clinics in townships in Indonesia.
Under the joint venture agreement, Ciputra will obtain the licenses and equipment for the clinic and recruit doctors, nurses and other staff.
Singapore Medical Group will provide its expertise in standard operating procedures, marketing and promotion, and training.
Shares of Singapore Medical Group inched up 0.4 cent to 18.4 cents in the first hour of trading on Wednesday.