KPJ Healthcare: the first 30 years
Zizah Che Senik, Rosmah Mat Isa, Noreha Halid, Adlin Masood, Soo-Wah Low and
Khairul Akmaliah Adham
Information about the
authors can be found at the
end of the article.
The study was funded by a UKM
University-industry research
grant, code
INDUSTRI-2013-042, titled
‘‘Business sustainability and
strategies for growth’’.
The authors wish to thank
Rafeah Ariffin of KPJ Healthcare
for her support of this case
publication, and
Siti Khadijah Mohd Ghanie for her
research assistance. This case
was developed based mainly on
information gathered from the
public domain. It is intended
exclusively to facilitate the
teaching and learning of strategic
management and managerial
economics theories and does not
imply effective or ineffective
managerial decisions.
Disclaimer. This case is written
solely for educational purposes
and is not intended to represent
successful or unsuccessful
managerial decision making.
The author/s may have disguised
names; financial and other
recognizable information to
protect confidentiality.
DOI 10.1108/EEMCS-06-2013-0081
Planning for the future
By the end of 2009, Kumpulan Perubatan Johor (KPJ) Healthcare Group was the largest
public-listed healthcare service provider in Malaysia. It recorded a revenue of RM1.5 billion
(approximately USD0.5 billion) and a net profit after tax of RM115 million (approximately
USD38 million) (KPJ Healthcare, 2009a). At the time KPJ operated 19 hospitals in Malaysia
and managed two hospitals in Indonesia (see Exhibit 1 that shows the location of KPJ
hospitals). In addition, it operated a nursing and health science college which supplied
nurses not only for its hospitals, but also for the general need of the country. In 2009, KPJ
Healthcare Group was listed as one of Malaysia’s top 100 companies due to its market
capitalization that accounted for more than RM1.3 billion (KPJ Healthcare, 2009a). KPJ’s
Managing Director and CEO, Datin Paduka Siti Sa’diah Sheikh Bakir (Siti Sa’diah), was also
awarded Malaysia’s CEO of the year for 2009 (News Straits Times, 2010).
In 2008, however, the effect of the US financial crisis was felt in many countries, including in
Europe. While its impact on Malaysian economy was not profound in early 2008, the economy
could be more affected later due to the nation’s trade and investment linkages with countries
affected by the crisis. By 2009, the Malaysian economic situation had experienced some
distress over the financial downturn (Mahani and Rasiah, 2009). Given this situation, the
demand for KPJ’s hospital services, which mainly targeted affluent segment of the market,
could be expected to decrease. Furthermore, despite the growth in the Malaysian medical
tourism sector, the number was expected to shrink by approximately 10 percent due to the
world economic downturn in 2008 (Ang, 2009). Hence, the demand for KPJ’s hospital services,
which targeted the medical tourism segment of the market, could be expected to decrease.
By the end of 2009, pressure was mounting on Siti Sa’diah and her management team to
make urgent decisions on how to survive the economic slowdown and grow the company’s
business. The team had three options:
1. KPJ Healthcare Group could expand its business by focusing on the medical tourism
market, which was expected to continue growing in the next few years;
2. KPJ could expand its college business, in particular because of the need to provide
nurses to its own hospitals and also to support overall rapid expansion of the medical
markets (Barnett et al., 2010); or
3. KPJ could further expand its international market.
In thinking about its growth strategies, KPJ’s management team also had to address the
issue of funding the business expansions. In 2006, in the effort to raise funds for its business
expansion, KPJ initiated a major shift in its corporate strategy from being an entirely
asset-based company to one that stayed light on its assets through securitization. This was
accomplished with the establishment Al-‘Aqar KPJ Real Estate Investment Trusts (REIT),
which had played an important role in facilitating KPJ’s strategic expansions (KPJ
VOL. 3 NO. 4 2013, pp. 1-20, Q Emerald Group Publishing Limited, ISSN 2045-0621
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EMERALD EMERGING MARKETS CASE STUDIES
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PAGE 1
Healthcare, 2005). The team wondered if this financing strategy is the best option to support
the company’s future expansion.
Overview of the Malaysian healthcare industry up to 2009
This section first presents a brief background information on Malaysia and general
information on the development of healthcare industry; it then provides brief descriptions on
the sectors of hospital operations, medical tourism, and nursing education.
Malaysia in brief
Malaysia is located in Southeast Asia and has a land area of approximately 330,000 km2. The
country comprises of Peninsular Malaysia and East Malaysia, which is made up of 13 states
and three federal territories. By 2010, Malaysia had a population of slightly less than
29 million people; approximately one-third of the population was below the age of 18 and
about 5 percent was over 65 years old (MyCC, 2012). Malaysia had progressed from mainly
a producer of raw materials into a full-fledged emerging economy, while also rapidly
attracted investments of multinational corporations especially since the 1980s. In 2010,
the country’s economy comprised of services sector, 48.2 percent, manufacturing sector,
41.4 percent, and agriculture sector, 10.5 percent (MyCC, 2012).
Healthcare industry in Malaysia
The Malaysian healthcare industry was divided into two sectors, the public and the private
health care sectors, both of which were expanding rapidly. The public healthcare program,
which was subsidized by the government, was used by the majority of Malaysians. The
private commercial healthcare sector, on the other hand, was mainly targeted at the affluent
segment of the population.
Even though private healthcare providers had existed before the 1970s, their contribution in the
healthcare services was not significant as the Malaysian Government was the main healthcare
provider (Rasiah et al., 2011). The more affluent Malaysians would go abroad for treatments that
were not available in Malaysia. Since the 1980s, the Malaysian Government began to seriously
promote heavy investment in strategic industries among the private sectors, and the healthcare
industry was one of the industries that took this challenge seriously. Profit seeking had resulted
in high growth in the private healthcare service. Incidentally, the percentage of affluent
consumers increased, which then leads to higher demand for customer service in healthcare.
By 1982, the government’s policy to expand the private healthcare sector was in line with
private investment in other public amenities such as power, water, telecommunication, and
public healthcare (Rasiah and Ishak, 2001 cited in Rasiah et al. (2011)). At the same time,
the government’s share in overall healthcare financing continued to decrease while
investments by state development corporations and expenditures of other governmentlinked conglomerates increased through their investment in hospital operations. In 1991,
healthcare was included in the Malaysian Privatization Master Plan (EPU, 2001; Rasiah et al.,
2011). Since then, the private healthcare sector began to experience rapid growth.
Hospital operations industry
By the end of 2009, about 70 percent of the healthcare services in the country were provided
by the public healthcare system, while 30 percent was provided by the private healthcare
system. Correspondingly, private healthcare expenditures continue to rise over the years
and exceeded public healthcare expenditures by the late 2000s (Rasiah et al., 2011). The
number of private hospitals increased from 50 with about 2,000 beds in 1980, to about 210
with 10,000 beds in 2009. In the same year, approximately half of the 25,000 doctors and
30 percent of the 54,000 nurses in the country were employed in the private sectors, while
the remaining was employed in the public sector (Chan, 2010).
The private hospitals generally targeted the affluent segment of the market and focused
more on customer service in comparison to the public hospitals. In return for their services,
many private hospitals charged high consultation and treatment fees. The competition for
health professionals between public and private hospital was high. However, better pay and
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work environment in the private hospitals (mainly from the high fees that they charged), gave
them an advantage in attracting the professionals (Dahlui and Aziz, 2012).
By 2009, Malaysian hospitals were also treating a significant number of foreign patients. In
2008, an estimated 400,000 foreign patients were treated at Malaysian hospitals; this
number was forecasted to increase by 20 percent each year (Chan, 2010). In 2009, the
Malaysian healthcare industry was estimated to be worth RM25.2 billion (USD8.4 billion). In
the same year, approximately 4.3 percent of the country’s GDP was allocated to the
healthcare sector (MGCC, 2011).
In addition to getting treatment at hospitals, Malaysians also visited traditional medicine
practitioners that included Chinese, Indians, Malays, and homeopathy medicine. These
treatments were mostly complementary to modern medicine or medical services provided
by the hospitals. Most Malaysians sought treatments at the hospital for curative type service.
Generally, a small hospital could evolve from a small clinic operation. To be established as a
group of hospitals with goodwill and branding, however, would take some time. For example,
KPJ Group took about 20 years to establish its name in the market, while Pantai Hospital
Group, the second largest hospital chain in Malaysia had been in the market for 30 years.
Medical tourism sector
Medical tourism can be defined as ‘‘patient movement from highly developed nations to less
developed areas of the world for medical care, bypassing the services offered in their own
communities’’ (Wikipedia, 2013). Especially since the 1990s, this industry had evolved into an
important business in Asia and had experienced high growth since then (Rasiah et al., 2011).
The promotion of Malaysia as a healthcare hub for traditional remedies and modern medical
treatment contributed to the further development of private hospital provider market into the 2000s
(EPU, 2006, 2010). Even though medical tourism in Malaysia was lagging behind the established
neighboring medical tourism countries such as Singapore and Thailand, it had evolved into an
affordable and highly developed healthcare hub in Asia (Ang, 2009). In fact, despite the decline in
global economy, medical tourism in Malaysia had emerged as one of the fastest growing
healthcare segments in the last few years (The Borneo Post, 2013). The number of foreigners
visiting Malaysia for medical tourism had grown three times since 2003, reaching a total of about
340,000 tourists in 2007 with revenues of about RM250 million (USD83 million) (Ang, 2009).
In 2009, the medical tourism revenue had increased to about RM290 million (USD97 million)
(William, 2011), with increasingly large numbers of private hospitals in Malaysia actively
participating in the sector. The industry aimed to receive around two million medical tourists
by the year 2020 (ETP, 2012). Most medical tourists in Malaysia were from neighboring
countries such as Indonesia (69 percent) and Singapore (12 percent). Other medical tourists
were from Japan, Australia, the UK, the Gulf Cooperation Council (GCC), and European
countries. The medical treatments sought by these patients included cardiac, cosmetics,
ophthalmology, dental, diagnostic services, and orthopedics (ETP, 2012).
Travelling overseas to obtain healthcare services is not entirely a new phenomenon, but
increased globalization, advances in technological innovation, savviness of global citizens,
and higher mobility resulted in many healthcare services increasingly accessible across the
borders. Increased globalization, as well as improved logistics of human and information
enabled the quality of healthcare service to become more standardized (Segouin et al.,
2005). Moreover, the World Trade Organization (WTO) had undertaken various efforts to
reduce trade barriers and promote cross-border investments, which had encouraged trade
in industries, including in the healthcare services. All these had provided opportunities for
healthcare operators who were prepared to venture beyond their home base to
internationalize their operations and/or attract patients to their home operations.
In addition to these specific healthcare measures, developments in other areas had also
strengthened the integration of healthcare services in ASEAN countries. For example, the
implementation of visa exemption for intra-ASEAN travel by ASEAN nationals had reduced
the hassle of cross-border travelling. Additionally, the liberalization of air travel within the
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region had reduced the cost of air travel while improvement in flight services had resulted in
a more convenient intra-region travel (ASEAN, 2012).
Malaysia had been aggressively promoting medical tourism in the last one decade. In 2010,
35 private hospitals were promoting their services throughout the country; 85-90 percent of the
patients was from the ASEAN countries and about 10-15 percent was from Japan, Australia,
the UK, the Middle East and Europe. Patients from the USA and Canada were also showing
increasing interests in medical tourism. By 2008, the arrival of health tourist increased to
approximately 370,000, generating a revenue of approximately RM300 million (USD100
million), from 340,000 tourists and revenues of about RM250 million (USD83 million) recorded
in 2007 (MGCC, 2011). Among others, Malaysia’s stable political climate, comparable medical
service costs and quality, as well as competitive pricing put the country in a good position to
attract a bigger share in the medical tourism sector (Dahlui and Aziz, 2012).
Nursing education sector
Although there was a significant increase in the number of nurses from about 20,000 in 1996
to about 48,000 in 2006, Malaysia still faced a critical shortage of nurses (Ministry of Health
Malaysia, 2007; Barnett et al., 2010). Malaysia would require 174,000 nurses by the year
2020 to reach the targeted nurse to population ratio of 1:200 required by the World Health
Organization (The Star, 2004; Barnett et al., 2010). Malaysia needs to overcome this
shortage to provide high quality healthcare services and also be in a competitive position.
There was a large demand for qualified nurses both locally and internationally, and shortage
of nurse was a worldwide problem (The Star, 2004; Kingma, 2007).
Countries such as the UK, the USA, and the Middle East also relied on nurses from other
countries, including Malaysia (The Star, 2004; Barnett et al., 2010). Malaysia was one of the
selected providers of nurses due to the comparatively low salary, good education
background, high English fluency, and good clinical practices exposures (Barnett et al.,
2010). However, in 2006, there were only about 48,000 trained nurses in Malaysia (Ministry of
Health, 2007) and this had resulted in Malaysian hospitals hiring foreign nurses from other
countries including from India and Philippines (eTawau, 2013).
In the effort to overcome the shortage of nurses, Malaysian authority had identified nursing
as a critical field and encouraged public and private institutions to provide nursing courses
and increase their intake of nursing students. The Malaysia Government allocated a special
fund which provided almost a 100 percent loan to nursing students (eTawau, 2013). In 2005,
about 50 higher education institutions provide nursing education and about 30 private
nursing colleges were established (eTawau, 2013). Masterskill Education Group Berhad
(MEGB), which was incorporated in 1997, was a premier provider of nursing education in
Malaysia (Nursing School, 2010). Another player in this industry was MAHSA College (Kolej
Medikal Ahli Sains Bersekutu) which was established in 2004. This college offered diploma
as well as degree programs in nursing, including twinning programs with Teeside University
and Northumbria University in the UK (Nursing School, 2010). Another institution which
provides nursing education was Nilai University College which was established in 1988. Its
nursing programs had received accreditation from leading universities in the UK, Australia,
New Zealand, Switzerland and Canada (Nursing School, 2010).
KPJ Healthcare Berhad, 1979-2009
The history of KPJ Healthcare Berhad began in 1979 as a healthcare division of the Johor
Corporation (JCorp). In 1968, JCorp was established as a State Investment Corporation in
Johor, Malaysia. It was among the largest conglomerates in Malaysia, with core businesses in
industries of palm oils, foods and fast-food restaurants, specialist healthcare services,
hospitality, property and logistic/services (JCorp, 2011). In 1979, KPJ Healthcare Berhad
began to develop the concept for Johor Specialist Hospital. After two years of development
and construction, the Johor Specialist Hospital began its operation in 1981. It was the first
private hospital in the state of Johor. In 1988, the division was incorporated as a private limited
company under the name of Kemajuan Intisari, and assumed its present name in 1989. In
1988, the company acquired the Tawakal Hospital in Kuala Lumpur which was facing serious
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financial problems (KPJ Healthcare, 2009b). In 1989, KPJ acquired the Ipoh Specialist
Hospital in Perak. In the same year, Datin Paduka Siti Sa’diah was appointed as the company’s
CEO. In 1990, KPJ acquired the Kuantan Specialist Hospital in Pahang. Later, in 1991, it
acquired some shares in Pusat Pakar Utara, which later changed its name to Kedah Medical
Centre. In the same year, KPJ opened its Puteri Nursing College with the objective of providing
nursing education and providing the human resources required by its group of companies
and also the country. In 1993, KPJ acquired a medical centre in Johor which later changed its
name to Puteri Specialist Hospital. In 1994, KPJ Healthcare Group was listed on the main
board of Kuala Lumpur Stock Exchange (KLSE) (KPJ Healthcare, 2005).
In 1995, the group’s construction of Ampang Specialist Hospital was completed and the
hospital was opened for operation. KPJ then partnered with Penawar Hospital through a
joint-venture agreement of 30-70 percent share (KPJ Healthcare, 2005). In 1995, KPJ
entered into a contract to manage Rumah Sakit (RS) Selasih Hospital in Padang, a province
on the island of Sumatera, Indonesia. In 1996, KPJ began to manage RS Medika Permata
Hijau in Jakarta, the capital city of Indonesia. By 1997, it added Damansara Specialist
Hospital to its hospital portfolio. In 1998, KPJ partnered with JCorp to develop and operate
Klinik Waqaf An-Nur. This program was part of JCorp’s CSR initiative. In the year 2000, KPJ
purchased Medical Specialist Centre in Penang, which was later known as Bukit Mertajam
Specialist Hospital. In 2002, KPJ established a joint-venture project with the Kelantan State
Economic Development Corporation to operate the Perdana Specialist Hospital in
Kota Bharu, Kelantan. In 2002, KPJ established a subsidiary, Pharmaserv Alliances, which
functioned as a wholesaler and distributor of pharmaceutical, medical product, and other
hospital related products focusing on servicing KPJ-owned hospitals. In 2003, KPJ operated
its first hospital in East Malaysia, the Kuching Specialist Hospital (KPJ Healthcare, 2005).
In 2004, KPJ signed an agreement with the United Group Bangladesh to offer consultation
and commissioning services to the United Hospital in Dhaka. KPJ then signed a contract
with the United Group to manage the United Hospital which comprised of 450 beds. In 2004,
KPJ jointly operated the Seremban Specialist Hospital with Majlis Islam Negeri Sembilan. In
2005, KPJ acquired 65 percent equity in Damai Specialist Centre in Kota Kinabalu, Sabah, a
state in East Malaysia. In 2006, KPJ acquired 60 percent shares in Selangor Medical Centre
and 75 percent of PT Khasanah Putera, Jakarta. In 2007, KPJ signed a contract to deal with
management services at two private hospitals in Saudi Arabia, the New Jeddah Clinic
Hospital and the Jeddah Clinic Hospital Kandarah (KPJ Healthcare, 2007).
Figure 1 shows the organization structure of KPJ Group by the end of 2009. It shows that all
of KPJ’s subsidiaries are hospital operations or hospital-related services which include one
nursing education academy, two pharmaceutical distributions companies, and other
hospital supporting facility providers (Figure 1).
By the end of 2009, all of KPJ’s hospital operations provided general medical and specialists
treatments and services. By then, KPJ Group employed 680 medical consultants (doctors
and specialists) and about 7,000 staff; approximately half of them were nurses and allied
health personnel while the remaining half were support staff. The company had spent about
RM7.5 million (about USD2.5 million) in human capital development to support its
operations. The group had served two million patients and about 15,000 (about 1 percent) of
them were medical tourists (KPJ Healthcare, 2009a).
In 2005, the value of the global healthcare travel market was USD20 billion, and at the end of
2009, it was estimated that the value would grow to between USD40 and USD60 billion by
2010. KPJ Group recognized medical tourism as a potential source of revenue and growth.
The group had obtained all the necessary accreditations for its hospitals and had conducted
extensive promotions in its targeted overseas’ markets. KPJ had also established links with
insurance providers abroad, operated patient referral centers, and strengthened its online
marketing system. At the same time, the Malaysian Government had recognized medical
tourism as a strategic tourism sector. For example, the government had set up the Malaysia
Healthcare Travel Council (MHTC) that support networking among relevant groups with the
objective of promoting growth in medical tourism (KPJ Healthcare, 2009a).
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Figure 1 Organization structure of KPJ Group, end of 2009
Source: KPJ Healthcare (2009a)
In 2009, KPJ had set a mission to deliver quality healthcare services through achieving
‘‘cohesiveness within the group and creating high standards of personal excellence’’ (KPJ
Healthcare, 2009a, p. 30). Specifically, in 2007, its five-year plan was to achieve revenues of
RM2 billion (about USD0.7 billion) by 2012. In achieving this plan, the company had
operationalized two goals:
1. increase the number of hospitals; and
2. expand internationally (KPJ Healthcare, 2009a).
Financing KPJ’s growth: 2006-2009
In early 2006, KPJ initiated a financing option, the REIT, to support its strategic expansion
initiatives and submitted the application to the Securities Commission. On 24 July 2006, KPJ
launched the Al-‘Aqar KPJ REIT, which was listed on the Bursa Malaysia on 10 August 2006.
As an investment vehicle, the Al-‘Aqar REIT invested primarily in ‘‘Syariah-compliant’’
income-producing real estate and provided returns to its unit-holders using the income
streams from its property portfolios (KPJ Healthcare, 2006). ‘‘Syariah-compliant’’ instrument
refers to all types of investments that meet the requirement specified by the Islamic law. KPJ
included six hospital buildings into the Al-‘Aqar REIT for a consideration of RM461.25 million,
which was a 4.12 percent discount from the market value. With this asset liquidation, KPJ
had agreed to accept a 47.06 percent stake in Al-‘Aqar REIT in the form of REIT units in
addition to the portion paid in cash. KPJ made a long-term lease agreement of 15 years with
Al-‘Aqar REIT to use hospital buildings as well as an option for renewal for another 15 years
with increasing rental rate. KPJ had also agreed to bear all maintenance costs for the leased
hospital buildings. The six hospitals properties comprised two hospitals in Johor, the Johor
Specialist Hospital and Puteri Specialist Hospital; three hospitals in Selangor, the Ampang
Puteri Specialist Hospital, Damansara Specialist Hospital and Selangor Medical Centre; and
one hospital in Perak, the Ipoh Specialist Hospital (Al-‘Aqar KPJ REIT, 2006).
Al-‘Aqar KPJ REIT played a vital role in supporting KPJ’s expansion. The strategy of injecting
hospital properties into Al-‘Aqar KPJ REITallowed KPJ to unlock its asset values and ease up
its cash flow to fund new hospital developments and acquisitions. Since 2006, KPJ continued
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its effort to include five more hospital properties into Al-‘Aqar REIT, the Kuantan Specialist
Hospital in Pahang, the Kedah Medical Centre in Kedah, the Perdana Specialist Hospital in
Kelantan, the Sentosa Medical Centre in Kuala Lumpur, and the KPJ Kajang Specialist
Hospital in Selangor. By the end of December 2008, with the two asset injection exercises, KPJ
had unlocked its assets worth RM651.1 million. The third asset injection, which was completed
in September 2009, had realized additional assets worth RM292 million from nine properties:
Seremban Specialist Hospital, Taiping Medical Centre, Damai Specialist Hospital in Kota
Kinabalu, Bukit Mertajam Specialist Hospital, KPJ Penang Specialist Hospital, Tawakal
Hospital, and KPJ Tawakal Specialist Hospital (KPJ Healthcare, 2007, 2008, 2009a).
Since the launching of Al-‘Aqar REIT, KPJ had injected more than RM1 billion worth of assets
into Al-‘Aqar REIT which enabled KPJ to realize its properties values and cash flow. KPJ’s
asset injections were used to reduce gearings to cut interest costs, fund working capital and
capital expenditures, and implement strategic expansions and other developments (JCorp,
2011). KPJ’s shareholders net profit increased by 81 percent from RM41 million in 2006 to
RM74.2 million in 2007. In the same year, the earnings per share (EPS) increased to 36 sen
(Malaysian cent) per share against 20.3 sen (Malaysian cent) per share in 2006, while the
return on equity (ROE) increased to 14 percent in 2007 from 8.4 percent in 2006. In 2008,
KPJ profit before tax exceeded RM100 million; KPJ continued to perform well in 2009 and
this has resulted in KPJ being listed in Malaysia’s top 100 companies based on market
capitalization, which had reached about RM1.3 billion. In terms of economic value added
(EVA), KPJ had also created good values for its investors. For the financial year ended 2006,
2007, 2008, and 2009, KPJ recorded EVA of RM9.1, RM23.4, RM43.2, and RM52.2 million,
respectively, (KPJ Healthcare, 2006, 2007, 2008, 2009a).
By 2009, Al-‘Aqar REIT had become one of KPJ’s key financing vehicles and it was expected
to further facilitate KPJ’s business expansion. Al-‘Aqar REIT had enabled the unlocking of
values of hospital and related properties to help KPJ raise funds to further expand and
capitalize on strategic investment opportunities. This gave KPJ a distinct competitive edge in
terms of its long-term strategic and financial needs (KPJ Healthcare, 2008). In short, Al-‘Aqar
REIT served as an important financing vehicle for KPJ to unlock its capital investments in
hospital buildings and redeploy them to other high yielding strategic business activities.
Strategies for the future, 2009 and beyond
Keywords:
Service,
Strategic management,
Malaysia,
Healthcare
At the end of 2009, the CEO of KPJ Group, Siti Sa’diah, and her management team needed
to make an urgent decision on the strategies to be pursued by the company. On hindsight,
Siti Sa’diah and her team were satisfied with the group’s performance. They had benefited
from the structural fundamental changes in society; ageing population, increasing
lifestyle-related diseases, and rising middle-class group had contributed to the increased
demand for healthcare services (Insider Asia, 2012). While the healthcare sector was a
capital-intensive business, the group had established Al-‘Aqar KPJ to secure the capital
required to support its growth. The gloomy economic situation, which affected the demands
for the group’s upscale medical services, however, was not good news for the group. The
team knew that this situation could result in lower revenues for the company, and might put
the group’s plan to become the leading regional player in the healthcare business at risk.
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Exhibit 1. Map of KPJ Hospital locations in Malaysia and Indonesia
Figure E1
Source: KPJ Healthcare (2009a)
About the authors
Zizah Che Senik is an Associate Professor at Faculty of Economics and Management,
Universiti Kebangsaan Malaysia, Bangi, Malaysia.
Rosmah Mat Isa and Noreha Halid are Associate Professors at UKM-Graduate School of
Business, Universiti Kebangsaan Malaysia, Bangi, Malaysia.
Noreha Halid can be contacted at: noreha@ukm.my
Adlin Masood is a Fellow at UKM-Graduate School of Business, Universiti Kebangsaan
Malaysia, Bangi, Malaysia.
Soo-Wah Low and Khairul Akmaliah Adham are Associate Professors at UKM-Graduate
School of Business, Universiti Kebangsaan Malaysia, Bangi, Malaysia.
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