289 FINANCIAL STATEMENTS Integrated Annual Report 2025 NOTES TO THE FINANCIAL STATEMENTS 31 December 2025 27. ASSETS CLASSIFIED AS HELD FOR SALE On 12 December 2023, the Group entered into a Land Sale Agreement (“LSA”) with Principal Healthcare Finance Pty Ltd (“Principal Healthcare”), as trustee for the Principal Healthcare Finance Trust (“Land Buyer”) to dispose the lands and buildings of Jeta Gardens Aged Care Facility for a cash consideration of AUD24.4 million (equivalent to approximately RM67.9 million). In 2024, the parties of the LSA has further negotiated on the proceeds of the sale and agreed the split of the sale proceeds via Owners’ Deed resulting written down of the fair value. Meanwhile, the other condition precedents in relation to the LSA is yet to be met as at year end and the disposal is expected to complete by Quarter 3 2026. In 2025, the disposal remained outstanding due to restrictions imposed by Principal Healthcare Finance Pty Ltd, whereby the Land Buyer did not permit the Group to sell the Western portion of the property to JAPL (the adjoining owner). As a result, despite the Owner’s Deed remains in force, the Group issued a supplementary contractual notice with justification prior to the original sunset date, which was not rejected by the counterparty. Subsequently, development plans for Stage 1A and Stage 1B were submitted with the Land Buyer’s consent, and the relevant fees were duly paid. The council is currently in the process of finalising the development approvals, following which the issuance of titles is expected to proceed without issue. Upon approval of Stage 1A and the issuance of title to JPL, the LSA for the Western portion will be executed to facilitate completion of the disposal by the revised sunset date of 11 December 2026. The movement of assets classified as held for sale is as follows: Jeta Gardens Aged Care Facility RM KPJ Healthcare College Penang RM Total RM 2025 Group Assets classified as held for sale At 1 January 41,963,781 - 41,963,781 Disposal - 14,000,000 14,000,000 Fair value written down (a) - (2,000,000) (2,000,000) Foreign exchage difference (1,030,647) - (1,030,647) 40,933,134 12,000,000 52,933,134
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