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Notes to the financial statements
31 December 2012
(continued)
Annual Report 2012 KPJ Healthcare Berhad
36. Significant events (continued)
(f) Proposed Joint Venture between KPJSB and Naim Land Sdn Bhd
On 19th April 2012, KPJSB signed a Joint Venture Agreement (“JVA”) with Naim Land Sdn Bhd (“NLSB”) for the purpose of designing, developing,
building, completing and owning a purpose-built hospital building and subsequently operating as a hospital at a land held under lot 3247 Block 11,
Kuala Baram Land District, Miri, Sarawak measuring 4 acres, where NLSB is the registered owner of the Land.
(g) Proposed Acquisition by KPJSB of 80% equity interest in PT Khidmat Perawatan Jasa Medika (“PT KPJ Medika”)
On 23rd March 2012, KPJSB accepted the offer to acquire of up to 80% equity interest in PT Khidmat Perawatan Jasa Medika (“PT KPJ Medika”) for
a total cash consideration of RM15,840,000.
On 9th July 2012, KPJSB has entered into a conditional Sale of Shares Agreement (“SSA”) with Johor Corporation in relation to the Proposed Acquisition.
The proposed acquisition was completed on 7 March 2013.
(h) Proposed Acquisition by KPJSB of 49% equity interest in SMC Healthcare Sdn Bhd (“SMCH”)
On 1st August 2012, KPJSB proposed to acquire the balance of 49% equity interest in SMCH equivalent to 39,200,000 ordinary shares of RM1.00
each from Sabah Medical Centre Sdn Bhd for a total cash consideration of RM54,880,000.
The proposed acquisition was completed on 8th August 2012.
(i) Proposed Acquisition by KPJSB of land at Mukim Tebrau, Johor Bahru
On 16th May 2012, KPJSB proposed to acquire a parcel of vacant commercial land held under H.S (D) 501209, Lot no. PTD 163189, Mukim of Tebrau,
district of Johor Bahru, Johor Darul Takzim, from Johor Land Berhad (“JLB” or “Vendor”), a subsidiary of Johor Corporation, for a total cash consideration
of RM45,000,000.
The proposed acquisition was completed on 14th December 2012.
(j) Proposed Acquisition by Pharmaserv Alliances Sdn Bhd (“PASB”) of a 3 Storey Office Building together with a Single Storey Warehouse
On 1st June 2012, PASB, a wholly owned subsidiary of KPJSB, proposed to acquire a 3 Storey Office Building together with a Single Storey Warehouse
from Lewre International Sdn Bhd (“LEWRE”) for a total purchase consideration of RM14,200,000.
The proposed acquisition was completed on 16th January 2013.
(k) Proposed Disposal by Puteri Specialist Hospital (Johor) Sdn Bhd (“PSH”) of two (2) pieces of land
On 8th August 2012, PSH, a subsidiary of the Company, proposed to dispose two (2) pieces of lands, both situated in the town of Johor Bahru, District
of Johor Bahru, State of Johor to Al-‘Aqar Healthcare REIT (“Al-‘Aqar”) for a total consideration of RM3,590,000 to be fully satisfied in cash.
The proposed disposal is expected to be completed in the second (2nd) quarter of 2013.
(l) Proposed Acquisition by Ipoh Specialist Hospital Sdn Bhd (“ISH”) of 100% equity interest in Sri Manjung Specialist Centre (“SMSC”)
On 12th September 2012, ISH, a subsidiary of the Company, proposed to acquire 100% equity interest in Sri Manjung Specialist Centre Sdn Bhd
(“SMSC”) equivalent to the total of 900,000 ordinary share of RM1.00 each for a total cash consideration of RM14,250,000.
The proposed acquisition is expected to be completed in the second (2nd) quarter of 2013.
(m) Proposed Acquisition by KPJSB of 23.37% equity interest in Vejthani Public Company Limited (“VPCL”)
On 23rd November 2012, KPJSB proposed to acquire 23.37% equity interest in Vejthani Public Company Limited (“VPCL”) equivalent to the total of
8,000,000 preference shares of THB10.00 each for a total cash consideration of THB605,615,991 equivalent to RM60,529,200.
The proposed acquisition was completed on 23rd November 2012.