Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.
The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud.
The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt
"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.
"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.
The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.
The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.
As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.
The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."
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Ley ali ...4 options kottu ...72 mele sigathe antha heli ...massage maadsi ...kaas kottu ... masha Allah ...antha helisbahudu ankondiya ....hahaha ..antha tapori alla kanayya ....naren kotian daaaaaa.....
Masha Allah
Naren will accept Islam by next year, insha allah.
His new name will be Muhammed Naren.
Naren,
Muttalrige estu helidru artha agalla, avarige avaradde raga,
We have thousands of Indian nurses working in Saudi Arabia mostly from Kerala and mostly non-muslims, But, only a very little percentage have changed their faith,
What you are mentioning here is all false, bogus and baseless,
Inchu illah ..massagu illa ...I have seen plenty of filippinaa and Nepalese who shifted to Singapore and Thailand after working in Saudi. ..to gain benefits they do ..non Muslim find difficult to get benefits when compared to jihadist...so it is temporary ...once they are back they are back to boom boom style ...I have met 2 escorts till now from Philippine . ..both had Muslim name. ..business ge ashte ...women nurse galu Saudi nalli kelsa madakke first convert agbeku ...illandre ...hardcore patients muttiskollodilvanthe.... Haha...even I have learnt about Islam and have one pseudo name to deal with Muslims ....it is purely for business's... Bari incoming alla swamy....outgoing bagge Matadi ...haha.. .u want me to show iskon Muslims ?
Syed,
When the people who associate partners with ALLAH revert and Worship ALLAH alone... They are already be forgiven for their Past Sin. ALLAH is most forgiving and most merciful....
May Allah forgive us and make us one of the inheriters of the Jannah.
ALHAMDULILLAH, MAY ALLAH SWT INCREASE THEIR IMAAN.AND FORGIVE THEIR PAST SINS. AAMEEN
Islam is the only religion accept by the almighty ALLAH (God) . Please make a research Y God accept only ISLAM. There is a life after death... We Muslims know that and U never understand this cos the Guidance comes only when U learn about the CREATOR who created U, ME and all that EXists...
Read QURAN with translation... U can also check online , i prefer Quranproject which is well explained to those who dont know about ISLAM and the one GOD who is the God of all that exists.
Finally Read it and U also have the choice to accept it or Not ... There is no compulsion in Religion... (What a better way Allah gives u the choice to accept it or not)
Islam is a true religion there is no place in Islam for Nama, Rama, Duma, Thoma and Roma all the prayers for Almighty Allah and leave and live for Allah, this is not only in Saudi all Muslim countries Non Muslims attract to Islam, one who see true Muslims and their believe in Allah they accept Islam..Insha Allah Islam will spread every where. Non believers and terrorists who do terrorism in the name of Islam will disappear one day Insha Allah
Dear Brother Ahmed, I agree with your comments.. But we cant throw stones for all dogs which keeps barking on roadside right? Bolney waley bolney do jo aney waley ayengey.. Cos Islam is such a religion if one non muslim goes deep into Quran he will not be non muslim later.. In Sha Allah many more to come in future
AlHamdulillah
Allahu Akber
Ma Sha Allah.. Welcome to Islam brothers and sisters.. May Allah bless you and all..
Burnol Bhagya for some :D
This kind of news will give sleepless nights to Sangh Parivar, Now they will come up with the comments like:-
It's done by the force of sword
It's for Jehadi purpose
They accepted Islam for monetary gains
Blah, Blah, Blah
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