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Jeta Gardens
Jeta Gardens was founded some four years ago with a
vision to provide aged care and retirement living services
for the retirement community while recognizing also their
needs to have the appropriate environment, culture and
lifestyle amid modern amenities.
The 64 acres of extensive parklands and renowned Chinese
Gardens at Jeta Gardens, bordering the Logan River, is a
profusion of scenery and wildlife as well as home to more
than 200 residents living in 23 villas, 32 apartments and the
108-bedded aged care facility.
There are some 150 staff members at the resort who provide
various services to the residents.
In December 2011, the Australian Federal Government
awarded Jeta Gardens approval to add a further 70 beds
in its aged care facility and the resort is also developing 10
additional villas.
To date about half of the land bank has been developed. Plans
currently are on the drawing board on how best to maximize
returns on the remaining land and to create the ultimate utopia
for the retirement community at Jeta Gardens.
Amplifying Services, Maximizing Returns
In addition to the development of more villas and the
increase in occupational beds at the aged care facility,
the blueprint for the expansion at Jeta also includes ideas
to set up more facilities for the comfort and convenience
of the residents, including the possibility of setting up a
Geriatric and Rehabilitation Hospital.
The effort to continuously improve the ambience and
service rendered to the residents has not gone unnoticed,
with Jeta’s Aged Care Facility securing the second cycle
of accreditation in 2011, based on compliance with all 44
standards and assessment criteria, as well as receiving
an award as the most innovative aged care and retirement
living business model.
KPJ’s entry has also injected greater synergy into the
retirement resort. The unique combination of Jeta’s
successful operations alongside KPJ’s experience in the
healthcare industry has helped strengthen JGWT’s financial
position in 2011.
Further development of the Bethania site and the provision of
more comprehensive services in the coming years will further
magnify the returns for JGWT, and ultimately for KPJ.
Aside from charting the expansion path for its network of
hospitals, KPJ has also travelled far to venture into another
new area of community care to enhance its range of
services as well as provide an additional avenue of income
for the Group – Retirement Care.
Times A-Changing for Golden Boomers
The Baby Boomers start to turn 65 in year 2011 and they are
transforming the retirement age. Surveys by independent
research houses have shown that the boomers have a
longer life span and have a whole new view on retirement,
forcing a re-examination of the traditional assumptions
relating to retirement. In short, they will reinvent retirement.
As Baby Boomers retire, focus will also be on caregivers
and how they prepare for the impact of providing healthcare
to those in their golden years. And as a major healthcare
provider, KPJ must change with the times and continue its
mission by transforming the way it provides care to meet
the changing needs of the population.
As a dynamic business, KPJ must also be at the forefront
in identifying new opportunities and potential markets to
sustain continued long-term growth for the Group.
Hence, on 22 September 2010, KPJ signed an agreement
to acquire up to 367,605 new ordinary units in Jeta Gardens
Waterford Trust (JGWT) and up to 3.3 million 10-year
convertible notes for RM19 million in an all-cash deal, and
this would give KPJ a 51% equity interest in JGWT.
The exercise was concluded on 30 November 2011,
making JGWT a subsidiary of the KPJ Group.
JGWT owns and operates Jeta Gardens – Australia’s first
retirement and aged care resort that incorporates Eastern
values – which is located in Bethania, a southern suburb of
Brisbane, Australia.
KPJ’s involvement in Jeta Gardens will be the gateway to
the retirement world, allowing it to gain greater knowledge
and experience in providing retirement care to the elderly.
The Group will also leverage on its experience as a primary
caregiver as well as the knowledge of its team of managers
and clinicians to create a new experience and lifestyle for
the Golden Boomers in Malaysia.
New Development - Aged Care and Retirement Village
The Golden Age Living Experience
Villa at Jeta Gardens
97 ANNUAL REPORT 2011