The chief executive officer of internationally accredited private healthcare facility Prince Court Medical Centre (PCMC), Stuart Rowley, has tendered his resignation, sources say.
Rowley was one of three key management staff of the hospital that was asked to go on leave on June 22 2010, pending an outcome of an audit review.
It is understood that the audit findings are currently being reviewed.
The other two key personnel told to go on leave are the chief medical officer (CMO) and the legal adviser. It is not known if the CMO and legal adviser have resigned.
In a press statement to Business Times last week, PCMC had said that the three were requested to take leave in the interest of objectivity and to enable the audit to be concluded satisfactorily.
PCMC is owned by Petronas Hartabina Sdn Bhd, a unit of state-owned oil company Petroliam National Bhd (Petronas), and managed by Vamed Healthcare Services Sdn Bhd and its partner, the Medical University of Vienna International Hospital Operations GmbH.
Business Times was unable to confirm if Rowley, who is also listed as a director of Petronas Hartabina since 2005, has resigned from this post.
The hospital has assured that changes have not affected the day-to-day operation or the level of patient care, and interim personnel had taken over relevant functions.
Vamed Healthcare Services managing director Stuart Pack is said to have stepped in to take over some responsibilities and will stay on until the audit is completed.
Pack could not be reached to confirm the developments as he was in a meeting. It is understood that the management has briefed the hospital's staff about Rowley's resignation.
Rowley could not be reached for comment.
PCMC had been a subject of much discussion since its opening in late 2007 over the lavish amount spent to build and equip it.
While the official price tag for the 300-bed hospital is reported as RM544 million, many say that the price has crossed the RM1 billion mark, including for the leasehold land (for current and future development) and equipment.
In a 2008 interview, Rowley said he expected the hospital to be operationally profitable by the end of the second year and will achieve net profit in eight years.
Last year, it was reported that the hospital, which focuses on health tourism, was looking to achieve sales of RM120 million in the financial year ended March 31 2010.
In 2009, the hospital posted a loss before tax of RM203.25 million on the back of RM24.12 million revenue.
(Blogger's comment: A medical college which went for listing recently makes more than RM100 million per annum. Better turn Prince Court to a teaching hospital)
Showing posts with label Hospital. Show all posts
Showing posts with label Hospital. Show all posts
Sunday, July 11, 2010
Saturday, October 11, 2008
Ranhill to undertake RM720m hospital project
By Sharen Kaur
BTimes
Published: 2008/10/11
BUILDER Ranhill Bhd has been asked by the government to undertake work on the Women and Children's Hospital Package 2 project in Kuala Lumpur worth RM720 million as a private financing initiative (PFI).The decision to complete the hospital project on a PFI basis instead of government financing was made in July due to lack of funds for it under the Ninth Malaysia Plan (9MP), a source close to the company said.It is learnt that Ranhill is currently preparing the PFI contract to be negotiated with the Ministry of Health.Ranhill Group president and chief executive officer Tan Sri Hamdan Mohamad and executive director and executive vice president Datuk Chandrasekar Suppiah were unavailable for comment.
The RM720 million Package 2 contract involves piling, superstructure, mechanical and electrical, clinical and non-clinical fit-out works, and building a 13-storey hospital on the premises of the current 2,350-bed Hospital Kuala Lumpur.Ranhill is expected to start work in December or after getting approval from the Ministry of Health, and complete the project by late 2011 or early 2012.The source said, however, that the cost has gone up by about 20 per cent due to additional equipment required and higher financing cost."Ranhill will be paid progressively for its work on the hospital project, therefore, its performance for the current year should also improve," the source said.Ranhill has completed Package 1, worth RM16 million, which involved demolishing existing buildings and diverting services at the General Hospital to pave the way for the construction of Package 2.
Blogger's Note: How can PFI projects be paid progressively? PFI means the contractor raises the fund to finance, build and complete the project. Then the Govt will start paying the contractor.
BTimes
Published: 2008/10/11
BUILDER Ranhill Bhd has been asked by the government to undertake work on the Women and Children's Hospital Package 2 project in Kuala Lumpur worth RM720 million as a private financing initiative (PFI).The decision to complete the hospital project on a PFI basis instead of government financing was made in July due to lack of funds for it under the Ninth Malaysia Plan (9MP), a source close to the company said.It is learnt that Ranhill is currently preparing the PFI contract to be negotiated with the Ministry of Health.Ranhill Group president and chief executive officer Tan Sri Hamdan Mohamad and executive director and executive vice president Datuk Chandrasekar Suppiah were unavailable for comment.
The RM720 million Package 2 contract involves piling, superstructure, mechanical and electrical, clinical and non-clinical fit-out works, and building a 13-storey hospital on the premises of the current 2,350-bed Hospital Kuala Lumpur.Ranhill is expected to start work in December or after getting approval from the Ministry of Health, and complete the project by late 2011 or early 2012.The source said, however, that the cost has gone up by about 20 per cent due to additional equipment required and higher financing cost."Ranhill will be paid progressively for its work on the hospital project, therefore, its performance for the current year should also improve," the source said.Ranhill has completed Package 1, worth RM16 million, which involved demolishing existing buildings and diverting services at the General Hospital to pave the way for the construction of Package 2.
Blogger's Note: How can PFI projects be paid progressively? PFI means the contractor raises the fund to finance, build and complete the project. Then the Govt will start paying the contractor.
Subscribe to:
Posts (Atom)