Revon Media
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us
No Result
View All Result
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us
No Result
View All Result
Revon Media
No Result
View All Result

KPJ Healthcare sells three hospitals for RM192m

KPJ Healthcare sells three hospitals for RM192m
Share on FacebookShare on Twitter

Al-’Aqar Healthcare REIT is proposing to acquire three hospitals from KPJ Healthcare Bhd for RM192 million, to be paid in cash and new shares.

Both entities have a common major shareholder in Johor Corporation, which the Johore government owns, and are thus deemed related party transactions.

Johor Corp is a major unitholder of Al-’Aqar Healthcare REIT with an indirect interest of 36.56 per cent. It is also a major shareholder of KPJ Healthcare with a 35.58 per cent direct interest and a 9.63 per cent indirect interest. Among Johor Corp’s core businesses are wellness and healthcare.

In a recent Bursa Malaysia filing, Al-’Aqar Healthcare REIT said it was buying TMC Healthcare Centre Building in Taiping, Perak, for RM14.3 million cash and KPJ Seremban Specialist Hospital Building for RM84.7 million cash.

The REIT is also buying Pasir Gudang Specialist Hospital in Johor for RM93 million, to be satisfied by a cash payment of RM67.99 million and the 20.5 million new units in the REIT at RM1.22 per unit.

Concurrently, with the purchases, Al-’Aqar Healthcare REIT said its trustee (Amanahraya Trustees Bhd) and its manager (Damansara REIT Managers Sdn Bhd) have entered into lease agreements with the three KPJ Healthcare subsidiaries involved.

Following the acquisitions and leases of the three hospitals, the REIT’s portfolio size will increase to RM1.73 billion from RM1.54 billion.

“The proposed acquisitions and proposed leases are expected to improve the future earnings of Al-’Aqar Healthcare REIT, taking into consideration the additional rental income to be received from the properties, which is expected to translate into DPU (distribution per unit) yield accretion,” it said.

Al-’Aqar Healthcare REIT plans to raise RM138 million via a private placement of up to 118.97 million new units or 16.16 per cent of its total units, mainly to repay bank financing. The private placement investors will be identified later.

Al-’Aqar Healthcare REIT’s total bank financing stood at RM690 million as of Aug 18. The acquisitions and leases are expected to be completed by the fourth quarter of 2022, while the private placement is expected to be completed by the first half of 2023.

Apart from Johor Corp, the Employees Provident Fund (EPF) is a major unitholder of Al-’Aqar Healthcare REIT, with a direct interest of 11.31 per cent and a shareholder of KPJ with a direct stake of 12.7 per cent.

Lembaga Tabung Haji is also a major unitholder of Al-’Aqar Healthcare REIT, with a direct interest of 14.34 per cent and a shareholder of KPJ with a direct stake of 2.95 per cent.

Tags: AcquisitionAl-’Aqar Healthcare REITKPJ Healthcare BhdLocal NewsThe Health 2022The Health SeptThe Health Sept 2022theHealth
Previous Post

JPA exploring public-private collaboration in healthcare

Next Post

The Ultimate DNA Test launched in Malaysia

Live Edition Paper

NOV 2020 ePaper

OCT 2020 ePaper


 

Subscribe for free complimentary live editions:

Recent News

  • Taking the plunge: Ramlah Yusof, Founder of Farmasi Al Falah and Farmasi Zufa
    September 30, 2021
    For Ramlah, freedom of time and financial independence is crucial in her life, […]
  • Five hospitals to become sandbox sites
    December 19, 2022
    Five hospitals in the country will serve as sandbox sites for new medical and […]
  • Malaysian-born behind first NZ Covid-19 tracer app
    October 21, 2021
    When Covid-19 hit New Zealand in March 2020, Malaysian-born Alan Chew, who is a […]
  • Safety and performance assurance
    February 7, 2022
    Material testing is critical in the verification process as patient safety is […]
  • Taking the plunge
    September 30, 2021
    Venturing into your own business can be rewarding, but the journey’s also full […]

Connect

Office

Revon Media Sdn Bhd
A member of Revongen Corporation
Headquarters
Revongen Corporation Center,
Level 17, Top Glove Tower, No.16,
Persiaran Setia Dagang,Setia Alam,
Seksyen U13, 40170 Shah Alam,
Selangor Darul Ehsan, Malaysia.

Contact

Tel: +603 3359 1166
Fax: +6 03 3358 0303

Copyright © 2021 Revon Media Sdn Bhd. A publication of Revon Media Sdn Bhd. About Us | Contact Us | Privacy Policy | Terms of use

No Result
View All Result
  • Newspaper
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Live Edition
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • Media
    • theHealth
    • @Halal
    • @green
    • @Pancing
    • myHealth
  • About Us
  • Contact Us

© 2021 Revon Media Sdn Bhd. A publication of Revon Media Sdn Bhd

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist