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KPJ to set up hospital in Perlis

The Star, Tuesday, 12 July 2011


PETALING JAYA: KPJ Healthcare Bhd’s wholly owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB) has signed a joint venture deal with Yayasan Islam Perlis (YIP) to build and operate a hospital on a leasehold 4.33 acres in Kangar.

The private healthcare facility will be known as KPJ Perlis Specialist Hospital. In a Bursa Malaysia filing yesterday, KPJ Healthcare stated that the joint venture will be operated via Perlis Specialist Hospital Sdn Bhd, where KPJSB and YIP will have 60:40 stake respectively.

Perlis Specialist Hospital will have an initial authorised share capital of 25 million ordinary shares of RM1 each. Under the deal, YIP will transfer its ownership of the land to Perlis Specialist Hospital while KPJSB will pay RM9.75mil cash, from internally generated funds of the KPJ Group, for 9.75 million shares in the joint venture company.

KPJ Healthcare said the joint venture was in line with the group’s objectives of increasing its network of hospitals to locations where private healthcare was in demand and expand its customer base. The joint venture will not have any material impact on KPJ Healthcare’s earnings in the current financial year ending Dec 31,2011.