AZRB to supply RM129mil equipment to IIUM teaching hospital

KUALA LUMPUR: Ahmad Zaki Resources Bhd’s (AZRB) unit Peninsular Medical Sdn Bhd (PenMedic) has clinched a RM129.01mil contract from International Islamic University Malaysia (IIUM) to supply additional equipment for the university’s teaching hospital at Kuantan, Pahang.

AZRB, whose businesses range from engineering and construction to facilities management, told Bursa Malaysia that it had received the letter of award from IIUM on Thursday.

In September 2011, AZRB inked an agreement with the Higher Education Ministry and IIUM for the construction of the 300-bed IIUM teaching hospital in Kuantan under a private finance initiative (PFI) arrangement with the Government. The project was valued at RM412.6bil.

Under the concession, the construction was to take 3½ years (to be completed in June 2015) and its asset management services would span 21½ years.

The deal marked the first hospital project to be developed under the Government’s PFI programme. 

“The (latest) award is expected to contribute positively to the group’s future earnings and net assets,” AZRB said.

AZRB shares rose half a sen to close at 60 sen on Thursday.