JCG Investment Holdings to buy 51% of Malaysian medical aesthetics firm for $5m

The issue price represents a volume weighted average price of $0.002 per share.

Investment holding firm JCG Investment Holdings has entered into sale and purchase agreements to acquire 51% of the shares in Malaysia-based medical aesthetics group Beverly Wilshire Medical Centre for a total consideration of up to $5.1m (MYR$15.3m), an announcement revealed.

Beverly Wilshire Medical Centre Group is constituted by a group of Malaysia-incorporated companies specialising in medical aesthetic treatments, healthy ageing wellness and regenerative therapies, cosmetic surgery, dental aesthetics and hair restoration. The group had also incorporated the Beverly Wilshire Medical Academy and Research Centre (BWARC) with a focus on medical research and anti-ageing therapy.

According to JCG, the issue price represents the volume weighted average price (VWAP) of $0.002 for each share, based on the share trading done on the Catalist Board of the Singapore Exchange Securities Trading (SGX-ST).

At the completion of this acquisition, Dato’ Ng Tian Sang @ Ng Kek Chuan, chairman of Beverly Wilshire Medical Centre will be appointed as non-executive chairman of JCG . Dato’ Ng Tian Sang @ Ng Kek Chuan has also reportedly committed to subscribe for a private placement of up to $1m into JCG. His son, Howard Ng How Er, will be appointed as an executive director of the company upon completion of the acquisition.

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