Quantum (IFC-39084)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 26, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
IDS Medical Systems Group Limited
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 130.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 14, 2018

Disclosed by Bank Feb 21, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to IFC website, the project involves a potential equity investment of $60 million in IDS Medical Systems Group Limited, a leading integrated medical distribution and solutions provider in Asia. IDS provides medical equipment, parts, consumables and services to numerous healthcare institutions including private and public hospitals, day surgery centers, specialist and primary care clinics, laboratories and nursing homes. The company currently operates in various markets including Indonesia, Malaysia, Singapore, Thailand, Hong Kong, Taiwan, Vietnam and the Philippines. IDS is majority owned by the Fung group of companies, who have holdings in trading, logistics, distribution and retailing; individual shareholders own the remaining shares of the company.

Investment Description
  • International Finance Corporation (IFC)

The IFC Investee Company is IDS Medical Systems Group Limited. The immediate Sponsor is IDS Medical Holdings Limited (the shareholder of the Company). The project will also have the financial backing of Fung Investments Limited, the Fung family investment vehicle for high growth and strategic investments. Fung Investments Limited has geographically and sectorally diversified investments. The Fung Group is globally renowned for its expertise in trading, logistics, distribution and retailing.

Contact Information

Project Contact: Stewart Kwok
VP - Strategic Development, IDS Medical Systems (Hong Kong) Company Limited 
Office Address: 13/F Li & Fung Centre, 2 On Ping Street, Siu Lek Yuen, Shatin, Hong Kong
Website: https://www.idsmed.com/

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/