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KPJ to lease hospital in Seberang Perai for 10 years

KPJ Healthcare is to lease a medical care facility to be built on four acre-land in Seberang Perai Tengah, Pulau Pinang under an initial ten-year agreement with and Aseania Development Sdn Bhd.

11-11-2011

KUALA LUMPUR: KPJ Healthcare is to lease a medical care facility to be built on four acre-land in Seberang Perai Tengah, Pulau Pinang under an initial ten-year agreement with and Aseania Development Sdn Bhd.

In a filing Friday, Nov 11, KPJ said that its wholly-owned subsidiary, Penang Specialist Hospital Sdn Bhd (PgSHSB) together with Lembaga Kemajuan Wilayah Pulau Pinang (PERDA) and Aseania had entered into a design, build, and lease (DBL) agreement to construct the medical care facility.

KPJ said that in 1994, PERDA had granted Aseania the right to develop a township on 456.01 acres of land in Seberang Perai.

Aseania had earmarked 9.76 acres for the development of healthcare facilities exclusively for PgSHSB, of which four acres were allocated for the hospital.

Under the DBL agreement, Aseania will construct the hospital according to PgSHSB's specifications and upon completion, PgSHSB wil lease the hospital from Aseania for 10 years.

KPJ said that under the agreement, it had the option to renew the lease for a further ten-year period.



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