Al-‘Aqar REIT completes acquisition of medical buildings and hotel for RM383.4m

KUALA LUMPUR: The Al-‘Aqar KPJ REIT completed the acquisition of several medical facilities and hotels around Malaysia for RM383.4 million on the same day as its filing with Bursa Malaysia on Tuesday, July 6.

Among the buildings acquired are: Seremban Specialist Hospital, Taiping Medical Centre, Damai Specialist Hospital, Bukit Mertajam Specialist Hospital, KPJ Penang Specialist Hospital, KPJ Tawakal Specialist Hospital and KPJ International College of Nursing and Health Sciences. All of these buildings were owned by subsidiaries of KPJ Healthcare Bhd.

Additionally, it also acquired Tawakal Hospital’s existing buildings from KPJ and Johor Corporation, along with Hotel Selesa and Metropolis Tower from Hotel Selesa (JB) Sdn Bhd, a wholly owned subsidiary of Kumpulan Penambang (Johor) Sdn Bhd.

The purchase consideration of RM383.4 million is to be satisfied by paying cash of RM239.5 million and the issuance of 151,446,000 new units in Al-‘Aqar at issue price of RM0.95 per unit.

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