15. INVESTMENTS IN SUBSIDIARIES (CONTINUED)
(c) Acquisition of subsidiaries in 2013 (continued):
(iii) On 12
th
September 2012, Ipoh Specialist Hospital Sdn Bhd (“ISH”), a subsidiary of KPJ Healthcare Bhd (“KPJHB”),
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 acquisition was
completed on 7 March 2013.
(iv) On 25 March 2013, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of the Company,
subscribed for a further 9,750,000 ordinary shares of RM1.00 each in Perlis Specialist Hospital Sdn Bhd by
capitalising RM9,750,000 advances made to the company.
(v) On 15 January 2013, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), a wholly-owned subsidiary of the Company,
subscribed for a further 8,765,748 ordinary shares of RM1.00 each in Pahang Specialist Hospital Sdn Bhd by
capitalising RM8,765,748 advances made to the company.
The effect of the acquisitions on the financial results of the Group in the previous financial year is as follows:
2013
RM
Revenue
23,836
Operating costs
(14,413)
Profit before tax
1,651
Tax expense
(238)
Profit for the financial year
1,413
Had the acquisitions took effect at the beginning of the previous financial year, the revenue and profit of the Group would
have been RM30,662,694 and RM1,311,725 respectively. These amounts have been calculated using the Group’s accounting
policies and by adjusting the results of the subsidiaries to reflect the additional depreciation and amortisation that would
have been charged assuming the fair value adjustments to property, plant and equipment had applied from 1 January
2013, together with the consequential tax effect.
251
Notes to the
Financial Statements
For the financial year ended 31 December 2014 (continued)
KPJ Healthcare Berhad annual report
2014
