KUALA LUMPUR (Jan 24): Malaysian Resources Corp Bhd (KL:MRCB) is partnering with Melaka Corp to develop a hospital on a parcel of land in Melaka Tengah, that will have an estimated gross development cost of RM520 million.
MRCB said its wholly-owned unit MRCB Land Sdn Bhd has entered into a joint venture (JV) and shareholders’ agreement with Melaka Corp’s subsidiary PM Multilink Sdn Bhd to form a JV company to undertake the project, according to the property and infrastructure group’s bourse filing on Friday.
MRCB Land and PM Multilink’s JV company — Majestic Quest Sdn Bhd — will be formed on a 70:30 basis. The project, which is located in the Bukit Baru district in Melaka, will later be leased to Putra Specialist Hospital (Melaka) Sdn Bhd.
MRCB and Melaka Corp said that the proposed hospital offers “excellent accessibility” due to its proximity to major landmarks and infrastructure, including the Air Keroh toll and Melaka International Trade Centre.
Meanwhile, a gross development cost of RM520 million has been allocated for phase one of the project, comprising multi-disciplinary facilities such as cardiac and orthopedic services, 300 hospital beds as well as 100 consultant suites.
“Future phases of Hospital Putra’s development will introduce complementary facilities such as a hotel, retail and commercial areas, a rehabilitation and wellness centre, an aged care centre, hostels and serviced residential units,” MRCB and Melaka Corp said in a joint statement.
Melaka Corp chairman Datuk Seri Ab Rauf Yusoh said the Putra Specialist Hospital represents a significant milestone in Melaka’s journey to become a premier medical tourism and healthcare destination.
Meanwhile, MRCB group managing director Datuk Imran Salim said the JV reflects the group’s commitment to address the state’s growing healthcare needs while contributing to its economic growth and development.
“Hospital Putra will not only provide advanced medical care but also create opportunities for education, research and economic development,” Imran said.
Friday’s announcement also comes a day after MRCB announced its partnership with Ipoh Sentral Sdn Bhd to jointly develop the Ipoh Sentral project, with an estimated gross development value of RM6.25 billion.
Besides these two projects, MRCB is also redeveloping KL Sentral, reported to cost over RM1 billion — to be borne by MRCB — under the public-private partnership unit under the Prime Minister’s Department.
As of September 30 last year, MRCB’s deposits, cash and bank balances stood at RM892.91 million, while its borrowings amounted to RM2.15 billion, according to its latest financial statement.
Shares of MRCB traded half a sen or 0.96% lower at 51.5 sen as of 2.18pm on Friday, valuing the group at RM2.30 billion.