Malaysia 100 100 Operating as a specialist hospital
ANNUAL REPORT 2016 | KPJ HEALTHCARE BERHAD 250 Notes to the Financial Statements For the Financial Year Ended 31 December 2016 (continued) 20 INVESTMENTS IN SUBSIDIARIES (CONTINUED) The following are subsidiaries of the Company (continued): NAME OF COMPANY COUNTRY OF INCORPORATION GROUP’S EFFECTIVE INTEREST PRINCIPAL ACTIVITIES 2016 % 2015 % Subsidiary of Selangor Specialist Hospital Sdn Bhd Hospital Pusrawi SMC Sdn Bhd * Malaysia 51 51 Dormant Subsidiary of SMC Healthcare Sdn Bhd Amity Development Sdn Bhd Malaysia 100 100 Dormant Subsidiary of PharmaCARE Sdn Bhd Open Access Sdn Bhd * Malaysia 100 100 Dormant Subsidiaries of Pharmaserv Alliances Sdn Bhd Medical Supplies (Sarawak) Sdn Bhd Malaysia 75 75 Marketing and distributing medical pharmaceutical products Malaysian Institute of Healthcare Management Sdn Bhd * Malaysia 75 75 Dormant FP Marketing (S) Pte Ltd * Singapore 100 100 Dormant Subsidiary of Puteri Nursing College Sdn Bhd KFCH Education (M) Sdn Bhd * Malaysia 100 - Operating as a college and training centre Subsidiaries of Jeta Gardens (Qld) Pty Ltd Jeta Gardens Aged Care (Qld) Pty Ltd * Australia 100 100 Operating and managing an aged care facility Jeta Gardens Management (Qld) Pty Ltd * Australia 100 100 Providing management to an aged care facility # Direct equity holding by the Company is 84%(2015: 84%) + Direct equity holding by the Company is 14% (2015: 14%) * Audited by firms other than PricewaterhouseCoopers, Malaysia
KPJ HEALTHCARE BERHAD | ANNUAL REPORT 2016 251 Notes to the Financial Statements For the Financial Year Ended 31 December 2016 (continued) 20 INVESTMENTS IN SUBSIDIARIES (CONTINUED) (a) On 1 May 2016, Puteri Nursing College Sdn Bhd (“PNC”), a wholly-owned subsidiary of the Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), acquired a 100% equity interest in KFCH Education (M) Sdn Bhd (“KFCH”) for a total cash consideration of RM1. (b) On 31 March 2015, KPJSB, a wholly-owned subsidiary of the Company, acquired 100% equity interest in Crossborder Hall (M) Sdn Bhd and Crossborder Aim (M) Sdn Bhd for a total cash consideration of RM5.2 million. Both Crossborder Hall (M) Sdn Bhd and Crossborder Aim (M) Sdn Bhd owned 50% share each of PT Al-‘Aqar PH and PT Al-‘Aqar BSD (collectively, “Crossborder Group”). The acquisition was completed on 16 December 2015. (c) On 1 December 2015, KPJSB, a wholly-owned subsidiary of the Company, acquired the remaining non-controlling interest of Kuantan Specialist Hospital Sdn Bhd for a purchase consideration of RM7.8 million. The effect of the KFCH acquisition on the financial results of the Group for the financial year was a loss before tax and zakat RM1,945,762. Had the acquisition took effect at the beginning of the financial year, the revenue and loss of the Group would have increased by RM1,825,000 and RM597,000 respectively. These amounts have been calculated using Group’s accounting policies.
- Fall '13