KPJ Healthcare Berhad

KPJ targets two hospitals in Indonesia

PETALING JAVA: KPJ Healthcare Bhd has proposed to buy two hospitals in Indonesia via the acquisition of the entire stake of Crossborder Hall (M) Sdn Bhd and Crossborder Aim (M) Sdn Bhd for RM4.718 million.

KPJ said the acquisition was entered through its whollyowned subsidiary, Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB) and AmanahRaya Trustees Bhd, the trustee for Al' Aqar Healthcare REIT.

Crossborder Hall and Crossborder Aim are the whollyowned subsidiaries of Al' Aqar, which in turn owns two hospitals in Jakarta and Tangerang, Indonesia.

 "The proposed acquisition is part of KPJ's plan to rationalise and streamline its operations in Indonesia for the purpose of, among others, to improve operational efficiency and flexibility," KPJ told Bursa Malaysia yesterday.

KPJ said the acquisition would be funded by internally generated funds It also believes the long term prospect of Indonesia and the target properties should be beneficial to the group.- The Sun