Announcement Details/Table Section :

This announcement is dated 22 June 2011.

We refer to the announcement dated 20 July 2009 in relation to the Proposed Joint Venture (“Earlier Announcement”).

Unless otherwise stated, the defined terms used throughout this announcement shall have the same meaning as defined in the Earlier Announcement.

The Board wishes to announce that the Company’s wholly-owned subsidiary, PSHSB, has on 22 June 2011, entered into a conditional Sale and Purchase Agreement (“SPA”) with Pasdec Corporation Sdn Bhd (“PCSB” or “Vendor”) for the acquisition of a 3.12-acre leasehold land (“Land”) within a parcel of land held under H.S.(M) 65652 Lot No. PT 83065 Mukim Kuala Kuantan, District of Kuala Kuantan, Kuantan, Pahang (“Master Title”) for a total consideration of RM3,756,750 (“Purchase Consideration”) to be satisfied via issuance of 3,756,750 PSHSB Shares (“Consideration Shares”).

KPJSB had earlier, on 20 July 2009, entered into a JVA with PCSB to set up a JV Co for the purpose of developing a hospital building on the Land. PSHSB was incorporated on 4 November 2009 as the JV Co pursuant to the JVA.

Pursuant to the JVA, PCSB had agreed to dispose and transfer the Land to the JV Co in exchange for the Purchase Consideration within one (1) year from the date of execution of the JVA or such later period as may be agreed upon by KPJSB (“Disposal Period”) with the grant of an extension of an additional period of one (1) year to PCSB in the event the Land could not be transferred to the JV Co within the Disposal Period (“Extended Disposal Period”).

The details of the announcement is as attached.

Attachments

1. KPJ-_Purchase_of_Land.pdf (Size: 212,641 bytes)