Columbia Asia, a chain of hospitals in Asia, is investing RM185 million to construct and operate the first hospital in Batu Kawan, Penang.
According to Columbia Asia Sdn Bhd Chief Executive Officer (CEO) for Southeast Asia, Kelvin Tan, the upcoming hospital would be the second in the northern region after Taiping, Perak.
“The RM185 million investment includes for the 1.2 hectare land, equipment as well as for the buildings with 150 beds,” he told reporters after signing a purchase and development agreement with Aspen Vision City Sdn Bhd recently.
Aspen Vision City is a joint-venture company between Aspen Group and Ikano Pte Ltd while Columbia Asia is an international private healthcare company incorporated in Malaysia in 1996 with 28 medical facilities across India, Malaysia, Vietnam and Indonesia.
The signing was witnessed by Chief Minister Lim Guan Eng, Aspen Group CEO Datuk M. Murly and Ikano Managing Director Christian Rojkjaer.
Columbia Asia is 30 per cent owned by the Malaysian Employees Provident Fund (EPF) and 70 per cent by US-based investment fund International Columbia USA LLC (ICU).
Aspen also signed a loan deal worth RM196 million with OCBC Bank (M) Bhd to finance the development of the entire first phase of the multi-billion ringgit Aspen Vision City project in Batu Kawan.
Meanwhile, OCBC Bank Malaysia CEO Ong Eng Bin said the agreement features a term loan for the purchase of land and a bridging loan for the construction of the development.
The first phase of Aspen Vision City, known as Verve, features a 14.2 hectare gated and guarded commercial and business district replete with 441 units of three- and four-storey shop offices.
The project is scheduled for completion in 2018 along with the the northern region’s first Ikea store.
He added that Verve has received good response, with a booking rate of over 85 per cent since the first preview in February this year.
“Last month we commenced the earthworks for Aspen Vision City, and we target to start the building works for Verve by year-end,” he added.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
