COLUMBIA ASIA-EXPANSION PLAN

Columbia Asia invest 400 million ringgit - Assignment 14/11/2008

Columbia Asia, the international healthcare provider, will be investing over 400 million ringgit over the next 24 months to build six mid-sized community hospitals nationwide.
 
The Chairman of Columbia Asia Group of Companies, Rick Evans, said the expansion was in line with the company's goal to focus on the increasing demand for affordable healthcare services across Asia.

They are aim at the middle income groups that is our market but interesting in Malaysia 70 percent of our revenue almost come from third party, insurance and employer, 30 percent come from people directly.
SUPER: Rick Evans\Chairman\Columbia Asia Group of Companies.

Evans told reporters this after the signing of a 116 million ringgit syndicated Financing (Commodity Murabahah\Tawarruq)-i & Al Ijarah Thumma Al Bai for its proposed three new hospital buildings.
 
The signings were between Columbia Asia Sdn Bhd (CASB), Bank Rakyat, RHB Islamic Bank Bhd and Bank Muamalat Malaysia Bhd.
 
The financing involved 58 percent of the total investments for the three hospitals in Balakong, Bukit Rimau and Setapak, estimated to cost 225 million ringgit.
 
Evans said the remaining investments would be from internally generated funds.
 
CASB has six hospitals in various stages of development in Malaysia, namely in Balakong, Bukit Rimau, Kota Damansara, Nusajaya, Setapak and Bintulu.
 
The six hospitals are expected to open end 2010.
 
Meanwhile, CASB is 30 percent owned by the Employee Provident Fund, and 70 percent by Columbia Asia Healthcare Sdn Bhd, a Malaysian company with subsidiaries in Vietnam, India and in Indonesia.
 
Columbia Asia, opened its first hospital in 1994, in Malaysia.  
 
Upon completion of the six hospitals, Columbia Asia would have 11 hospitals in Malaysia and by end 2011, it expects 35 hospital operating regionally.