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PETRONAS (via its wholly owned subsidiary PETRONAS Hartabina Sdn. Bhd.)today signed a Share Sale and Purchase Agreement (“SPA”) for the sale of PETRONAS’ 100% interest in Prince Court Medical Centre (“PCMC”) to Khazanah Nasional Berhad (“Khazanah”) (via its wholly owned subsidiary Pulau Memutik Ventures Sdn. Bhd.).
PETRONAS’ President and Group Chief Executive Officer, Tan Sri Wan Zulkiflee Wan Ariffin said, “PETRONAS is pleased to witness PCMC’s recent transformation in becoming a self-sustaining and profitable organisation with strengthened financials and solid operational foundation. PETRONAS believes PCMC is ready for its next phase of growth and we are confident this transaction will position PCMC to realise its aspiration of becoming the leading healthcare provider in Asia.”
Under the terms of the SPA, Khazanah will aquire PCMC at an agreed price comparable to market assessment, payable upon completion of the transaction. Both parties anticipate the transaction to be completed by end of Q2 2018.
About PETRONAS
Established in 1974, Petroliam Nasional Berhad (“PETRONAS”) is Malaysia’s fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500®. As the custodian for Malaysia’s national oil and gas resources, we explore, produce and deliver energy to meet society’s growing needs. The growing demand for energy inspires and strengthens our purpose to steadily drive for new solutions and push boundaries towards a sustainable energy future.
For further information, please visit www.petronas.com
About Prince Court Medical Centre
PCMC is a premium private healthcare facility located in the heart of Kuala Lumpur with a bed capacity of 270. The hospital was incorporated to elevate the standard of healthcare in Malaysia and was opened to the public in 2007.
Issued by
Media Engagement
Group Strategic Communications
PETRONAS
