Prince Court Medical Centre continues to operate losses, RM654million in last 2 years

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Prince Court Medical Centre Sdn Bhd, one of the most prestigious medical centres in the Klang Valley has reported a net loss of RM451million after recording a revenue of RM82million for the financial year ending April 30, 2011.

The medical center is a wholly owned subsidiary of national oil and gas company Petronas (Petroliam Nasional Bhd) is located in the heart of the Klang Valley where it reported that they had non-current liabilities of RM714.3million while current liabilities were at RM35.1million. Its reserves too were in the red of RM178.3million. In the 2009 financial year, Prince Court recorded a net loss of RM203million while revenue was only at RM24million. With the latest figures, the luxurious medical center would have accumulated RM654 million of net loss in the last 2 years. It was reported that to build the facility, the cost was at RM544million. According to the company, the reason for this was the high operating costs and overheads.