Monday, 15 July 2013

KPJ getting ready for aged care business

KPJ Healthcare is getting ready for the aged care business and may partner property developers to launch retirement villages. "What we have now is a home for the aged, more of a place for old people to stay. But we have been studying the concept and are now trying to develop a new concept in Malaysia" said managing director and president Amiruddin Abdul Satar.

  • In 2010 the group acquired a 51% stake in Australia-based Jeta Gardems Waterford Trust (JGWT) for RM19m. KPJ's associate company Al-Aqar REIT then announced the acquisition of all the 14.75ha of properties owned by JGWT for RM134.9m. JWGT owns an Asian-themed retirement resort called Jeta Gardens which houses an aged care facility, retirement homes, and apartments in Bethania, Queensland. 
  • Meanwhile, the company is in the process of setting up hospitals in those states where it does not already have hospitals - Terengganu, Melaka and Perlis. Amiruddin said KPJ is expected to open four new specialist hospitals in Malaysia within the next two years and plans to attract more foreign patients to the country in the future. (Financial Daily)

Source: CIMB Daybreak - 15 July 2013

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