15. INVESTMENTS IN SUBSIDIARIES (CONTINUED)
(a) On 10 March 2014, the Company subscribed for additional 999,998 new ordinary shares of RM1.00 each in Point Zone Sdn
Bhd (“PZSB”) for a total cash consideration of RM999,998. The equity interest of the Company in PZSB remains the same
at 100% subsequent to the subscription.
(b) On 6
th
November 2013, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of the Company,
acquired 100% equity interest in BDC Specialist Hospital Sdn Bhd (‘’BDCSB”) comprising 2 ordinary shares of RM1.00
each for an aggregate cash consideration of RM16,516,144. BDCSB is the registered owner of a leasehold land described
as Lot 18807 Block 11 Muara Tebas Land District, located at Stampin, Kuching, Sarawak, measuring approximately 1.918
hectares. The subsidiary did not contribute to any revenue of the Group, except expenses of RM291,120 during the
financial year as it was still dormant. Had the acquisitions took effect at the beginning of the financial year, the effect to
profit of the Group was not material.
No goodwill was recognised as a result of the acquisition as the assets and liabilities acquired do not constitute a
business.
(c) Acquisition of subsidiaries in 2013:
In prior year, the Group completed its acquisition in new interests and increased its stake in several subsidiaries as
follows:
2013
RM’000
Subscription of right issue in subsidiaries (Note (b)(iv) and (b)(v))
18,516
Acquisition of interests in newly acquired subsidiaries (Note (b)(i), (b)(ii) and (b)(iii))
80,720
99,236
Less: Cash and cash equivalents of subsidiaries acquired
(9,911)
Cash outflow of the Group on acquisition of subsidiaries
89,325
(i) On 23
rd
March 2012, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of KPJ Healthcare
Berhad (“KPJHB”), 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. The proposed acquisition was completed on
7 March 2013.
(ii) On 17
th
April 2013, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of the Company,
acquired 100% equity interest in Rawang Specialist Hospital Sdn Bhd (“RSHSB”) comprising 30,000,000 ordinary
shares of RM1.00 each for an aggregate cash consideration of RM50,630,164. The acquisition was completed on
18 July 2013.
250
KPJ Healthcare Berhad annual report
2014
Notes to the
Financial Statements
For the financial year ended 31 December 2014 (continued)
