Home Insider Insider News FMI Partnered with Indonesian Lippo

FMI Partnered with Indonesian Lippo

First Myanmar investment Co. ltd (FMI) is planning to help developed health care sector in Myanmar by partnering with an Indonesian Conglomerate Lippo Group, the operator of Siloam International Hospitals in Indonesia. FMI will take 60 percent of the share and the Lippo Group 40 percent in this joint-venture project. The name of Pun Hlaing Hospital will also be changed to Pun Hlaing Siloam Hospital (PHSH).

The Chairman of FMI, Serge Pun stated, “The partnership represents a shared vision between FMI and the Lippo Group to provide equitable and accessible quality health- care to a large segment of the Myanmar people. This reinforces our commitment to provide high quality internationally bench- marked healthcare at different price points to suit the needs of our people in Myanmar.” The former Group President Director of Si- loam International Hospitals in Jakarta, Dr. Gershu Paul is currently appointed as the Chief Executive Officer of PHSH. According to Dr. Paul, this reformed and newly named PHSH will give services by a team of exclusive Myanmar specialists repatriated from Singapore, Malaysia, Hong Kong, USA, UK and Australia.

The Pun Hlaing Siloam Hospital – PHSH is to provide with 24/7 “on-duty” emergency services and is equipped with six operating theatres, a maternity ward, Intensive Care Unit, modern clinical laboratory and ambulances. They also revealed their recent ex- pansion of 182 hospital beds among them, 38 to be priced at 10,000 kyats that is estimated USD 10 per night.

Dr. James Riady, Chief Executive Officer of the Lippo Group expressed his opinion on this joint-venture, “This represents a first step for us into the country and we will go beyond the city of Yangon to become a national network. Our commitment is to invest in a model similar to Siloam that has seen it become a national healthcare leader in Indonesia. This will also enable us to establish global standards and enhance the quality of healthcare in the Myanmar.”

On 8th May 2015, FMI announced that its joint-venture with Lippo Group was ap- proved by Myanmar Investment Commission (MIC) and the secretary to the latter and the Director General of DICA – Directorate of Investment and Company Administration, U Aung Naing Oo commented that the partnership between FMI and Lippo is a great benefit to the country and it will help Myanmar achieve sustainable both regional and international recognition. And the collaboration of these two organizations will also create employment for locals and the country will be able to provide the citizens with health care inside of their mother land, saving a significant outflow of money.