KPJ Healthcare Bhd is looking at the possibility of issuing Islamic debt papers and a rights issue to help finance the development of 10 hospitals worth 1 billion ringgit ($312.26 million).
With a cash balance of about 284.4 million and a low net gearing of about 0.5 times as at June 30, KPJ is looking to raise the funds through a rights issue and sukuk.
KPJ managing director Amiruddin Abdul Satar declined to comment further, saying that it is still at the preliminary stage.
"Our financing exercise will be announced soon," he told The Edge Financial Daily.
MALAYSIA-PRESS-Carlyle keen on bolt-on acquisitions-The Malaysian Reserve
Washington-based private equity firm Carlyle Group LP is keen on potential buys in Malaysia for its part-held businesses in the Middle East and North Africa (MENA), bolt-on acquisitions in the language of private equity firms.
The decision clearly rides on Carlyle's past experience in Malaysia from the acquisition of a local lighting manufacturer Davex Holdings Bhd at $60 million for its part-owned Saudi Arabian company General Lighting Co Ltd last year.
"We are constantly looking for bolt-on acquisitions. I would not be surprised if there is anything next year. We had a very good experience in Malaysia with the acquisition of Davex. The rules here are very clear and transparent," Carlyle Group's MD and co-head of the MENA buyout team Firas Nasir told The Malaysian Reserve in an interview last month.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
($1 = 3.2025 Malaysian ringgit)