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KPJSB TO ACQUIRE LAND IN KLANG FOR RM23.76 MLN

Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB), a wholly-owned subsidiary of KPJ Healthcare Bhd, has signed sale and purchase agreements to acquire four plots of land in Klang from Sazean Development Sdn

11-11-2011

KUALA LUMPUR, Nov 11 (Bernama) -- Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB), a wholly-owned subsidiary of KPJ Healthcare Bhd, has signed sale and purchase agreements to acquire four plots of land in Klang from Sazean Development Sdn Bhd.

In filing to Bursa Malaysia today, the group said it would pay RM23.76million cash for the land which measures approximately 1.84 hectares.

The land is currently vacant and KPJSB intends to construct a specialist hospital on the land.

"The development of the land is expected to commence upon completion of the proposed acquisition. It will be completed 24 months thereafter," it said, adding, the development costs is between RM110 million to RM120 million.

Meanwhile, in a separate statement, KPJSB said its wholly-owned subsidiary, Penang Specialist Hospital Sdn Bhd (PgSHSB) has entered into a design, build and lease agreement (DBL agreement) with the Penang Regional Development Authority (PERDA) and Aseania Development Sdn Bhd (Aseania).

Under the terms of agreement, Aseania will design and construct a medical care facility (hospital) according to PgSHSB''s specifications, on a 1.62 hectare (four acre) land in Seberang Perai Tengah, Penang.

PgSHSB shall lease the hospital from Aseania for 10 years upon completion of its construction.



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