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KPJ to buy four plots of land for RM24mil

PETALING JAVA: KPJ Healthcare Bhd is to acquire four plots of land in Klang for RM23.76mi1 to build a specialist hospital.

12-11-2011

PETALING JAVA: KPJ Healthcare Bhd is to acquire four plots of land in Klang for RM23.76mi1 to build a specialist hospital.

In its announcement, KPJ said that it expected the development costs for the total area of 1.84 hectares to be within the range of RM11Omil to RM120mil while the hospital construction is estimated at RM80mil.

The funds for all developments will be internally generated.

KPJ added that the hospital is expected to be completed in two years after the acquisition goes through by its wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd.

"The acquisition is in line with KPJ Group’s objective to expand its network of hospitals to locations where private healthcare is in demand, enlarge the customer base and further establish himself as a key service provider in Malaysia".

The lands are situated within a mixed development under Sazean Development Sdn Bhd called the Sazean Business Park.

In a separate announcement, KPJ said that it would construct and then lease a hospital in Seberang Prai, Penang for 10 years.

Its wholly-owned subsidiary, Penang Specialist Hospital Sdn Bhd (PgSHSB), has entered into a build, design and lease agreement with Lembaga Kemajuan Wilayah Pulau Pinang (PERDA) and Aseania Development Sdn Bhd.







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