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greater convenience with the installation of the latest state-of-the-art facilities, wider range of medical disciplines and a 500-bay multi-storey car park.

During the 2010 fiscal year, KPJ also ventured beyond Malaysian shores to gain a foothold in the aged care business and to tap into the geriatric care business.

On 23 September 2010, KPJ announced the acquisition of a 51% stake in Australian retirement village owner and operator, Jeta Gardens Waterford Trust (JGWT), for RM19 million, a deal that is expected to be completed by the frst half of 2011.

JGWT owns and operates a 64-acre retirement village known as Jeta Gardens in Water ford, Queens land, Aust ral ia, which comprises a 108-bedded aged care facility, 23 retirement villas and 32 units of apartments.

In line with the expansion plans to grow its network and enhance its aged care business, on 18 January 2011, KPJ also announced its acquisition of Sibu Medical Centre Corporation Sdn Bhd (SMCC) and

Sibu Geriatric Health & Nursing Centre Sdn Bhd (SGHNC). The agreement saw KPJ acquiring 100% interest in SMCC and SGHNC for RM28.15 million, with the exercise slated to be completed in the frst half of 2011.

SMCC owns and operates the Sibu Specialist Medical Centre while SGHNC owns and runs the nursing and geriatric care centre known as Love Care Centre at the same location in Sibu, Sarawak.

This latest acquisition brings KPJ’s network to 20 hospitals in Malaysia.

Capturing New Markets

One o f the key f ac t or s suppor t i ng sustainable growth is development of new markets and to this end KPJ is setting up new hospitals in potential growth areas where such services are in demand.

Currently, KPJ is in the midst of building its KPJ Klang Specialist Hospital in Selangor and expects to complete construction works in 2011.

On 29 July 2009, KPJ acquired the partially completed bui lding for RM38 mi l l ion and invested a further RM70 million to complete and turn it into a fully-equipped multidisciplinary specialist hospital to serve the Klang population.

Construction of the 120-bedded Muar Specialist Hospital in Johor is also underway after KPJ paid RM22 million to buy the partially-completed building and injecting in a further RM36 million to develop it. This hospital is expected to be ready in 2012.

To further consolidate its market share in Johor state, KPJ paid out RM7 million on 31 March 2010 to purchase 3.2 acres of land in Pasir Gudang, with the aim of setting up a new hospital there in two years’ time.

These efforts are expected to help KPJ remain a key player in the healthcare industry and to cut across boundaries to widen its market reach in the years to come.