KJP Healthcare has entered into an agreement to dispose of its entire 65% stake in Teraju Farma for RM1.56 million to the remaining shareholder.
With this Teraju will no longer be a subsidiary of KPJ, the company was primarily involved in the marketing and distribution of pharmaceutical and medical products. The buyer is an individual by the name ZAL who is a Malaysian citizen and is the beneficial and registered shareholder of 35% of the equity of Teraju Farma.
Upon its audited account, the adjusted NTA for Teraju Farma stands at RM2,397,958.00, as for the disposal KPJ claims its due to an internal re-organisation where non-core activities within the Group are to be wound-down or disposed of so that it can be more focused on its core business operations and activities.
The healthcare service provider has been undergoing a restructuring activity as its business has been impacted severely during the pandemic. With borders closed, the group was reeling from a lack of overseas patients as the KPJ was a beneficiary of medical tourism.