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173

notes to the

financial statements

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010 (cont’d)

45 EVENTS SUBSEQUENT TO END OF REPORTING PERIOD

(a) On 22 September 2010, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”) entered into a conditional Subscription Deed for the

acquisition of up to 367,605 new ordinary units in Jeta Garden Waterford Trust (“JGWT”) (representing up to 51% equity interest in JGWT) and up to 3,308,415 10-year convertible notes into new ordinary units in JGWT for a total cash consideration of up to RM19,000,000 (“Proposed Acquisition”).

On 9 February 2011, KPJSB has transferred RM4,750,000, representing a 21% equity investment in JGWT. The balance of the

equity investment in JGWT granted to KPJSB via a put and call option which is exercisable between 1 July 2011 until 1 August 2011 at an issue price of AUD1.

The Proposed Acquisition expected to be completed by 3rd quarter 2011.

(b) On 18 January 2011, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”) entered into a Share Sale Agreement for the acquisition of: (i) 100% equity interest in Sibu Medical Centre Corporation Sdn Bhd (“SMCC”) comprising 6,624,944 ordinary share of

RM1.00 each for an aggregate purchase consideration of RM26,904,000.

(ii) 100% equity interest in Sibu Geriatric Health & Nursing Centre Sdn Bhd (“SGHNC”) comprising 1,080,000 share for an

aggregate purchase consideration of RM1,242,000.

The acquisition is expected to be completed by the frst half 2011.

46 APPROVAL OF FINANCIAL STATEMENTS

The fnancial statements have been approved for issue in accordance with a resolution of the Board of Directors on 31 March 2011.