KPJ Healthcare Berhad

KPJ Healthcare arm buys assets for RM14.2m

KPJ Healthcare Bhd's wholly-owned subsidiary, Pharmaserv Alliances Sdn Bhd, has entered into sale and purchase agreement with Lewre International Sdn Bhd to acquire a property in Petaling for RM14.2 m

KPJ Healthcare Bhd's wholly-owned subsidiary, Pharmaserv Alliances Sdn Bhd, has entered into sale and purchase agreement with Lewre International Sdn Bhd to acquire a property in Petaling for RM14.2 million.

In a filing to Bursa Malaysia today, KPJ said the property, a three-storey office building together with a single-storey warehouse, is strategic to the group in its plans to develop and expand the pharmaceutical business.

While continuing to focus on its core businesses in the healthcare industry, KPJ said it will also strive to grow its pharmaceutical division which can provide recurring income and positive cash flow to the group in the future.

The proposed acquisition, expected to complete in the third quarter 2012, is expected to contribute positively to the group's revenue and earnings in the future. --

Bernama