Kedah Medical Centre plans public-listing in two years


  • Business
  • Saturday, 24 May 2003

BY V. CHANDRASEKARAN IN KULIM

KEDAH Medical Centre (KMC), a private hospital based in Alor Star, is optimistic it will be public-listed in about two years. 

Kedah Mentri Besar Datuk Seri Syed Razak Syed Zain said KMC, a joint-venture between the subsidiaries of Kedah SEDC and Johor SEDC set up in 2000, had the potential to be listed on the KLSE second board. 

Declining to disclose KMC's revenue, he said it had improved by more than 50% yearly.  

“We are confident it (revenue) will continue to improve and the company will eventually be listed in a year or two,” he told reporters after opening KMC's first branch clinic at Kulim Hi-Tech Park (KHTP) in Kedah on Tuesday. 

Kedah SEDC holds 52% of KMC's equity via one of its subsidiary companies while Johor SEDC subsidiary KPJ Healthcare Bhd holds a 48% stake. 

Syed Razak said construction of KMC's new 228-bed 10-storey building costing RM24mil in Alor Star was nearing completion and was expected to be ready by July. 

On KMC's first branch clinic in KHTP, he said it was a joint venture between KMC and Kulim Hi-Tech Corp Bhd – a subsidiary of Kedah SEDC which manages KHTP. The clinic was in a renovated building at KHTP's administrative block, he said, adding that KMC would provide medical back-up services. 

There were some 10,000 people working at KHTP, including expatriates and the new private clinic would help provide the needed medical services, he said, adding that there were also plans to set up a private hospital at KHTP later. 

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