KPJ Healthcare Bhd will inject more properties into its Al-'Aqar KPJ REIT (Real Estate Investment Trust), said its chairman, Tan Sri Muhammad Ali Hashim.
He said the properties comprised Seremban Specialist Hospital; Taiping Medical Centre; Kota Kinabalu Specialist Hospital; Bukit Mertajam Specialist Hospital; KPJ Penang Specialist Hospital; Tawakal Hospital; KPJ TawakalSpecialist Hospital; and, KPJ International College of Nursing and HealthSciences.
"The exercise involves a total purchase consideration of RM293 million which will be satisfied by cash of RM176 million and by the issuance of 123 million new units in Al-'Aqar KPJ REIT at 95 sen apiece," he told a media briefing after the company''s extraordinary general meeting in Johor Bahru today.
Muhammad Ali said KPJ was confident the healthcare industry would be resilient and withstand the present global economic slowdown.
He said the Al-'Aqar REIT would allow KPJ to unlock the values of the assets and allow it to reinvest the funds into the group as well as to reduce borrowings.
"The REIT will give us the flexibility to use the funds for potential acquisitions, mergers and reinvestments into new and existing hospitals," he said.
Muhammad Ali said for the year ended December 31, 2008, KPJ's pre-tax profit rose by 12 per cent to RM23.7 million from RM21.1 million in the same period of 2007.
Revenue rose by seven percent to RM325 million from RM304.6 million in thesame period of 2007, he said.
By Bernama
Wednesday, February 25, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment