On Faber's HSS concession, it had expired on Oct 28, 2011, but the government had extended it for a period of six months to Apr 28, 2012. However, Faber was informed that it will continue to execute the existing concession until a new one was signed. Despite the prolonged delay in renewing its HSS concession, a renewal is forthcoming given Faber's vast experience and good track record.

To recap, in July 2012 Faber is hoping that its hospital support services (HSS) contract with the Government will be resolved. However, sources said certain top ranking Health Ministry officials had paid a visit to Faber's plant in Bukit Beruntung and had personally conveyed their assurance that the renewal of the HSS contract would be granted to Faber“eventually.”

The Government had reportedly been scheduled to announce a definitive HSS concession late 2011but the announcement did not materialise due to reasons unknown. The official HSS concession for Faber had lapsed back in April 2012 after the Government extended the agreement for an interim period of six months. Thereafter, the Government had instead issued another letter stating that Faber would continue to service the Government with the existing concession terms and conditions until a new agreement was signed with the Health Ministry.

Meanwhile, the company which is a 34%-owned associate of UEM Group Bhd had cast its net wider by engaging more in property development to rely less on the healthcare sector. It is also moving to possibly secure more HSS deals with other private hospitals.

The company has two major upmarket property projects which are expected to be completed by the end of this year the Armada Villa in Taman Danau Desa Kuala Lumpur and the Areca Residence in Kepong KL with total gross development values of RM430mil.