Sign up | Log in



Home  >> Daily News  >>  Malaysia News  >>  Companies   >>   Malaysia’s state investor to buy Singapore’s Parkway stake

27-28 May 2010

Malaysia’s state investor to buy Singapore’s Parkway stake

Related Stories

May 17, 2010
Vietnam IPP venture allows Malaysian firm to diversify

May 16, 2010
Malaysian bank plans to get listed in Indonesia

May 11, 2010
 Supply problems forcing Malaysian seafood processors to move out

May 10, 2010
Chipmaker Intel shuts Malaysian unit in ‘transition’

May 9, 2010
CIMB’s Indonesia unit to make more earning than Malaysian unit

Malaysia’s government-linked investment company Khazanah Nasional Bhd, through its wholly owned Integrated Healthcare Holdings Ltd, has proposed to acquire 313 million shares in healthcare services group Parkway Holdings Ltd for S$1.18bil (RM2.76bil) or S$3.78 per share, according to a report in the StarBiz, a local business daily online.

The cash offer represents a 25.2% premium to Parkway’s closing price on May 26 of S$3.02 per share and a 60.9% premium over the company’s 12-month volume weighted average price of S$2.35 per share.

This move, if successful, would see Khazanah holding 51.5% stake in one of Asia’s leading healthcare providers with a network of 16 hospitals and more than 3,400 beds.

CIMB Bank Bhd and Deutsche Bank AG said in a joint announcement to the Singapore stock exchange yesterday on behalf of Integrated Healthcare that the company held a 23.8% stake while parties acting in concert held a further 0.3% stake in Parkway.

Integrated Healthcare director Ahmad Shahizam Mohd Shariff said in a press release the acquisition would consolidate Khazanah’s existing stakes in Parkway, Pantai Holdings Bhd, India’s Apollo Hospitals Enterprise Ltd and IMU Health Sdn Bhd, which operates the International Medical University.

In a related story, Reuters said Khazanah’s bid for control of Parkway Holdings mayy pitt it against India's Fortis Healthcare in a battle for Singapore's largest private healthcare provider.

The surprise offer, which aims to lift Khazanah's stake in Parkway to 51.5 percent, could either trigger a takeover fight or force Fortis to cash out of the medical firm, which operates 16 hospitals in Singapore, Brunei, Malaysia, India and China.


Comment on this Article. Send them to
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand