KPJ Healthcare Bhd is divesting its entire 80 per cent stake in its specialist hospital operation in West Jakarta, Indonesia, for 96 billion rupiah (about RM28 million) due to the subsidiary’s difficulty in complying with the licencing and regulatory requirements imposed on foreign operators.
The group said it had inked agreements to sell all but one share in PT Khidmat Perawatan Jasa Medika (KPJM) to Irfan Jasri, who owns the other 20 per cent stake in KPJM, and one share to Annie Trisusilo, medical director of RS Medika Bumi Serpong Damai, the other KPJ hospital in Indonesia.
KPJM owns a specialist hospital in the capital city known as RS Medika Permata Hijau.
“KPJ will make the requisite announcement once the restructuring exercise involving its hospital operations in Indonesia is finalised in due course,” KPJ said in a filing with Bursa Malaysia today.
KPJ said in its 2019 annual report that its two hospitals in Jakarta recorded double-digit growth last year arising from increased number of patients at both hospitals.
RS Medika Permata Hijau’s revenue rose 23 per cent to RM27.2 million in 2019, according to the report. — BERNAMA