PETALING JAYA: Jentayu Sustainables Bhd’s hospital resumed operations today after the health ministry reinstated its licence.
Ohana Specialist Hospital’s licence had been revoked in April due to non-compliance of mandated operating procedures.
Jentayu acquired the hospital in February 2022 and it is managed by its wholly-owned subsidiary, Ultimate Forte Sdn Bhd.
In a statement today, Jentayu said substantial steps had been taken to improve their operational procedures.
“(This included) instilling a more robust governance system, and ensuring an unwavering compliance with the country’s highest healthcare standards, in line with guidance from the health ministry,” it said.
The hospital, located in Setapak Jaya, Kuala Lumpur, represents 7.66% of Jentayu’s total assets as of Dec 31, 2022.
Its website states Ohana aims to provide quality yet affordable healthcare solutions in obstetrics & gynaecology (O&G), and paediatrics.
Jentayu noted that although the hospital contributed 22% of the group’s revenue over the last two quarters of the financial year ending June 30, 2023, its net impact on earnings before interest and tax (Ebit) was only at 0.26% compared to the group’s Ebit.
The hospital is also expected to be a minor contributor to the group’s future income with the bulk of its income expected to be derived from its renewable energy assets.
“We are committed to providing our patients with healthcare services in a safe, supportive environment,” said Ohana’s management.
“The reinstatement of our licence is a testament to the hard work and dedication of our team in making necessary improvements, and we are eager to recommence serving our community,” it added.
Jentayu’s share price closed flat at 87 sen, giving it a market capitalisation of RM332.1 million.