Fortis offers RM7.4bn for remainder of Parkway
Fortis Healthcare Ltd, India’s second-biggest hospital operator, offered about SGD3.2bn (RM7.42bn) for the rest of Singapore’s Parkway Holdings Ltd, topping a partial bid by Malaysia’s sovereign wealth fund. Fortis said it will pay SGD3.80 (RM8.815) a share in cash for the 74.73% it doesn’t already own in Parkway, Asia’s largest hospital operator. That’s 0.5% more than the SGD3.78 a share bid by Khazanah Nasional Bhd, which made a partial offer to more than double its stake at 51.5%. Parkway shares closed at SGD3.57 yesterday and were halted from trading. (Malaysian Reserve)
Genting Malaysia plans to acquire Genting UK’s ops
Genting Malaysia Bhd (GENM) plans to acquire Genting Singapore PLC’s casino operations in the United Kingdom (Genting UK) for a total cash consideration of approximately RM1.67bn. In a statement to the exchange yesterday, its president and COO Datuk Lee Choong Yan said the acquisition is subject to the necessary regulatory approvals being obtained fro Bank Negara Malaysia and the British Gambling Commission, as well as approval from the company’s non-interested shareholders at an EGM to be convened (Malaysian Reserve)
Gaming duty up 2% effective June
The Government has raised the betting duty on gaming companies to 8% from 6% previously, with retrospective effect from last month. The listed gaming companies – Tanjong plc, Multi Purpose Holdings (MPHB) and Berjaya Sports Toto (BToto) – made the announcement on Bursa Malaysia yesterday. (Financial Daily)
Selangor to ink river rehab project pacts
The Selangor state government is expected to sign Points of Agreement (POA) with companies it has appointed to rehabilitate and develop the Klang river within the next two months. The Selangor government had earlier appointed three companies to carry out the Klang River rehabilitation project that is expected to attract RM50bn worth of investments. The companies are TSS-Mako Engineering Sdn Bhd, GJA Engineering and Construction, and Wessex Water I-Bhd Consortium. It is estimated that the entire clean-up and rehabilitation of the 120km long river will take 15 years to complete. Cleaning up the river will take place within the first two to three years, involving RM1bn for treatment and another RM1bn for development. (BT)
Faber not aware of UEM plan to divest
Faber Group Bhd said it has no knowledge of any proposal by major shareholder UEM Group to divest its stake in the company, it told Bursa Malaysia yesterday. It was responding to a news article that said UEM Group may dispose of its stake in the healthcare and property development company. (BT)
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