TDM expands healthcare network, invests RM29.1 mil for two new hospitals
17 Jan 2024
Plantation and healthcare outfit TDM Bhd, a subsidiary of the Terengganu state government, has invested RM29.1 million to build two hospitals this year.
Its executive director Najman Kamaruddin said the group’s healthcare sector contributes more than 50% to the overall profits and the two new hospitals are expected to increase the profits considerably.
“An investment of RM14.1 million is allocated for the construction of the 100-bed KMI Chukai Medical Centre in Kemaman, while Razif Hospital in Klang, Selangor involves an investment of RM15 million for the takeover process.
“Both of these hospitals will be managed by TDM’s subsidiary Kumpulan Medic Iman Sdn Bhd (KMI Healthcare),” he said during a press conference after presenting RM2.9 million to the Terengganu State Heritage Trust Fund Board, which is part of the company’s joint venture profit agreement for 2022, at Wisma Darul Iman here on Wednesday.
Najman also said the group plans to expand its medical network on the East Coast in the next five years, as an effort to meet the increasing demand for the health services offered by TDM.
“So far, there are five hospitals under the KMI Healthcare network, namely the KMI Kuala Terengganu Medical Centre in Terengganu; the KMI Kuantan Medical Centre in Pahang; the KMI Kelana Jaya Medical Centre in Selangor, the KMI Taman Desa Medical Centre in Kuala Lumpur, and the KMI Tawau Medical Centre in Sabah.
“We do not have a branch in Kelantan. So, we plan to create an ‘East Coast Belt’ within the next five years to meet customer demand and continue to compete in the healthcare sector in Malaysia,” he said.
Najman said that in addition to healthcare, TDM will maintain its focus on plantations, which is the company’s second focus sector.
“The company will continue to focus on increasing sales of Certified Sustainable Palm Oil (CSPO) and Certified Sustainable Palm Kernels (CSPK) to take advantage of its high premium rate.
“In 2022, the plantation sector was the main contributor to the company’s profits, but the low price of palm oil last year caused income from the plantation sector to decrease compared to healthcare,” he said.