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KPJ UNIT BUYS LAND FOR RM26MIL TO EXPAND OPERATIONS

•The Star - KPJ Healthcare Bhd wholly owned subsidiary PNC Sdn Bhd Bhd has purchased four parcels of land in Seremban for RM26mil to expand its nursing and health sciences business.

05-06-2008

KUALA LUMPUR: KPJ Healthcare Bhd wholly owned subsidiary PNC Sdn Bhd Bhd has purchased four parcels of land in Seremban for RM26mil to expand its nursing and health sciences business.
PNC chairman Jasimah Hassan said the land acquisition was necessary as its PNC International College of Nursing and Health Sciences was expanding fast and needed more facilities and space.

“There are now about 1,230 nursing students at PNC and we target enrolment to reach 5,000 in five years,” she told reporters after the sale and purchase agreement signing ceremony between I&P Permodalan Harta Sdn Bhd and PNC yesterday.
I&P Permodalan Harta is a wholly owned subsidiary of Island & Peninsular Bhd.
Jasimah said if the four land parcels were fully utilised, PNC could potentially educate and house 10,000 nursing students, making it possibly the largest nursing and health science training centre in the region.
“This would be our long-term ambition,” she said, adding that PNC decided to expand the college because there was strong demand worldwide for more healthcare workers, especially nurses.

KPJ managing director Datin Paduka Siti Saadiah Sheikh Bakir said the nursing and health science business could contribute substantially to the company over time.
“It’s our second core business,” she said, adding that while earnings contributions from the business was still small, it had the potential to grow significantly in time.
On the impact of the investment, Siti Saadiah said even after the land purchase, KPJ’s gearing was less than 1%.

KPJ is the country’s largest listed healthcare group with a network of 23 hospitals, of which 17 are in Malaysia and six overseas.



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