55 ANNUAL REPORT 2022 KPJ INTERNATIONAL COLLEGE OF NURSING AND HEALTH SCIENCES, JOHOR BAHRU (KPJIC JB) The property is a four-storey building known as KPJ International College of Nursing and Health Sciences located in Bandar Dato’ Onn, a self-contained, residential township 12 kilometres from Johor Bahru. The building has a 100% occupancy rate as at 31 December 2022. RENTAL TERM The building is currently rented by KPJ International College of Nursing and Health Sciences for a term of 3 years subject to a compulsory renewal for a further 2 terms of 3 years each per term. The final term will expire on 31 October 2025. CHALLENGES AND PROSPECTS The Malaysian education industry is expected to grow at a CAGR of over 6% from 2018 to 2023. An increase in the number of private and foreign universities with affiliated campuses in Malaysia is expected to be one of the key revenue growth drivers during the outlook period. Emphasis is also placed on technical and vocational training education. Industry players are seeking for technically skilled workforce and the demand and market for technical education is expected to increase. Therefore, KPJ International College of Nursing and Health Sciences, the sole college property is expected to generate stable income from its lease arrangement with KPJ Group’s education arm. KPJIC JB (PREVIOUSLY KNOWN AS MALAYSIAN COLLEGE OF HOSPITALITY AND MANAGEMENT) MANAGEMENT DISCUSSION AND ANALYSIS INDUSTRIAL & OTHERS SEGMENT - K P J AI NNTDE RHNEAATLITOHN ASLC I CE NO CL LEESG, JEOOHFO RN UBRASHI NR GU
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