37. SUBSEQUENT EVENTS (CONTINUED)
(b) On 18 March 2015, Seremban Specialist Hospital Sdn Bhd, a wholly-owned subsidiary of KPJ (“SSHSB”), entered into
a sale and purchase agreement with the Amanah Raya Trustees Berhad, being the trustee of Al-`Aqar Healthcare REIT
(“Trustee” or “Purchaser” or “Al-Aqar”), to dispose a parcel of freehold land in Seremban, Negeri Sembilan (“SSH Land”)
to Al-`Aqar for a total cash consideration of RM4.25 million upon the terms and conditions as stipulated in the Sale and
Purchase Agreement (“SSH SPA”) (“Proposed Disposal”).
As a condition to the Proposed Disposal, SSHSB will enter into a supplemental lease agreement with the Trustee and
Damansara REIT Managers Sdn Berhad, being the manager of Al-`Aqar (“DRMSB” or “Manager”), for the lease of the
SSH Land to SSHSB (“SSH Supplemental Lease Agreement”) upon the terms and conditions to be agreed between the
aforesaid parties (“Proposed Leaseback”). The SSH Supplemental Lease Agreement shall supplement a lease agreement
dated 12 December 2012 entered into between SSHSB, the Trustee and DRMSB for the lease of the Existing Properties
for the second lease term period (as defined herein) to SSHSB (“SSH Existing Lease Agreement”).
The Proposed Disposal is expected to complete in the third quarter of 2015.
38. CAPITAL COMMITMENTS
Capital expenditure not provided for in the financial statements is as follows:
Group
2014
2013
RM’0
RM’000
RM’000
Approved by the directors and contracted
99,513
191,557
Approved by the directors but not contracted
238,825
298,759
338,338
490,316
Group
2014
2013
RM’0
RM’000
RM’000
Analysed as follows:
– Leasehold land
2,880
1,500
– Buildings
205,784
342,209
– Medical equipment
39,919
68,479
– Other property, plant and equipment
89,755
78,128
338,338
490,316
The Group’s interest in capital commitments of the associates is disclosed in
Note 16
.
287
Notes to the
Financial Statements
For the financial year ended 31 December 2014 (continued)
KPJ Healthcare Berhad annual report
2014
