KUALA LUMPUR: TDM Bhd’s unit, Kumpulan Medic Iman Sdn Bhd (KMI) has entered into a heads of agreement with Mutiara Premier Sdn Bhd (MPSB) to build and lease a specialist hospital building in Kota Bharu, Kelantan.

       Under the proposed project, MPSB will construct a specialist hospital building which is able to accommodate 94 beds of single rooms with a minimum of 300 parking bays for Phase 1 of the proposed project.

       “Upon completion of the construction of the specialist hospital building, MPSB shall lease the Specialist Hospital Building to KMI,” the oil palm and healthcare group said in a Bursa filing.

       “At a later stage and subject to viability, MPSB and KMI shall discuss a potential

       expansion of the specialist hospital building for additional 100 beds and 300 parking bays (Phase 2 project) and the requirement for Phase 2 proposed project shall be mutually agreed by the parties,” it added.

       MPSB shall fund the development of the proposed project which is indicative to be at a gross development costs of RM129.36mil for Phase 1 development only.

       The construction is expected to be completed within 30 months from the date on which the last of the condition precedent is fulfilled.