Materia Medica Malaysiana

Perak Sells Medical College To Universiti Kuala Lumpur

IPOH, March 2 (Bernama) -- The Perak government has agreed to sell a 75 per cent stake in its wholly owned Perak Royal College of Medicine (PCM) for RM60 million to Universiti Kuala Lumpur (UKL).
Menteri Besar Datuk Seri Tajol Rosli Ghazali said the PCM campus near Ipoh Hospital was priced at RM45 million while the shares in the college were valued at RM15 million in the deal.
"The state government through the State Secretary Incorporated will still retain a 25 per cent share in the college," he said after the Executive Council meeting, Wednesday.
UKL is owned by Mara's Universiti Teknikal Mara Sdn Bhd.
Tajol Rosli said the name of the college, which opened in 1999, would be maintained as that was one of the conditions for selling it to Mara.
"This is in recognition of the Sultan of Perak Sultan Azlan Shah's contribution towards the college's development. As the Chancellor of Universiti Malaya (UM), he had played a significant role in establishing a strategic alliance between the university and PCM," he added.
He said when Britain's Sheffield University stopped issuing its degree to PCM students few years ago, UM stepped in to help the students.
Tajol Rosli said the college could take in 100 first-year students who each pay RM50,000 annually for the first two years and RM55,000 each year for the remaining three years.
"Mara actually saved the college by buying it. PCM was losing students, especially from overseas, when Sheffield stopped giving its degree," he said.

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