Government investment arm Khazanah NasionalBhd has won the battle over Singapore's healthcare services provider Parkway Holdings Ltd as it seeks to buy all remaining shares in the company for a total of S$3.5 billion (RM8.19 billion).
Khazanah-owned Integrated Healthcare Holdings Ltd told the Singapore Stock Exchange (SGX) yesterday that it was revising its partial offer to a voluntary conditional general cash offer for all remaining Parkway shares at S$3.95 (RM9.24) per share.
The voluntary general offer (VGO) price is 4.5 per cent more than Integrated Healthcare's initial partial offer price of S$3.78 (RM8.85).
Integrated Healthcare, with parties acting in concert, hold a 23.9 per cent stake in Parkway as at July 26.
Meanwhile, Fortis Global .....
India's Fortis Healthcare Ltd (Fortis) will now pursue other regional and global growth opportunities, following its exit from Singapore's healthcare services provider Parkway Holdings Ltd.
It will also study the possibility of a secondary listing of Fortis on the Singapore Exchange.
The company, through its wholly-owned unit Fortis Global Healthcare (Mauritius) Ltd, decided to accept Integrated Healthcare Holdings Ltd's voluntary general offer of S$3.95 (RM9.24) per share yesterday.
Fortis has also withdrawn its voluntary general offer made earlier this month for Parkway shares it did not already own.
"Our decision to exit our investments took into account the interest of all stakeholders of Fortis.
"It was made after careful assessment in light of other growth opportunities available to us across the region and globally," Fortis and.....
After months of scrutiny and scanning over 3,000 entries, the government today approved the symbol of the Indian currency which will differentiate it from currencies used in countries such as Pakistan, Nepal, Sri Lanka and Mauritius.
SPAR, the world’s largest food retailer with approximately 20,000 stores in 35 countries, is opening its first flagship store in Lagos in August to set up a fierce competition with retail leader, Shoprite, which first opened in Nigeria more than five years ago.
BusinessDay learnt that the planned flagship store is will be located in the Lekki-Ajah axis of Nigeria’s commercial capital and is being built under a collaboration with Park n Shop and founded in Nigeria in 1988. Park n Shop is owned by the Artee Group and has become a household name in modern shopping in the country.
Following the opening in Lagos, other SPAR stores will open in Otta, Abuja and Port Harcourt.
The Lagos store is already attracting the attention of large manufacturers some of.....
Domestic companies routing their investments through Mauritius may soon have to pay capital gains tax. The tax authorities are pressing for checking the loopholes in the tax treaty with the island nation.
Amphibious boat-maker Sealegs will use a $6.2 million injection of new capital from Mauritius-based Avenport Investment to invest in building a global brand, chief executive David McKee Wright told BusinessWire today.Sealegs...
Pravin Kumar just joined the Sheraton Deira Hotel, a Starwood property with 224 guest rooms and 3 FandB outlets as its new Food and Beverage Manager. Prior joining the Sheraton Deira Hotel, Pravin joined the pre-opening task force as F&B Manager at The Grand Mauritian, Mauritius, a Starwood Luxury Collection, where he was responsible for setting up of the entire Food and Beverage department from writing of Standard Operating Procedures, to training simulations, inventories and more.
The euro zone crisis could slow Mauritius’ economic growth by up to 0.4 of a per centage point in 2010 but inflation and excess liquidity might indicate a need for a rate rise, its central bank chief said on Friday.
Foreign fund house Morgan Stanley Mauritius today raised its stake in financial services provider JM Financial to 4.80 per cent after acquiring additional shares worth Rs 68.24 crore through open market transactions. Morgan Stanley Mauritius has acquired an additional 18.4 million shares, or 2.45 per cent, stake in JM Financial at Rs 37.06 per share, totalling Rs 68.24 crore, according to details available on the Bombay Stock Exchange (BSE).
PERUSAHAAN Otomobil Kedua Sdn Bhd (Perodua) is still assessing the situation in Thailand before deciding whether to make the country its eighth export destination.
Perodua managing director Aminar Rashid Salleh said Perodua was monitoring several factors including Thailand's volatile political situation as well as finding a suitable partner and determining which of its eight models will be exported.
"We may or may not go into Thailand and expect to come to a decision as early as the third quarter of this year or the latest by year-end.
"Only then will we decide on appointing a distibutor and do a study on Thailand's automotive market size," Aminar told NSTP group reporters during a Perodua management visit to the publishing house in Kuala Lumpur yesterday.
Aminar said the move into .....
The determination to tackle the abysmal shortfalls in infrastructure across the African continent has gathered momentum as the African Development Bank (AfDB) devoted $4.82 billion (UA 3.9 billion) representing 51 percent out of its total loan disbursement in the 2009 financial year to infrastructure development.
UA is the unit of account used by the bank and one UA is 1.5112 to the dollar. In its 2009 annual report obtained by BusinessDay, at the venue of the bank’s 2010 annual meeting, in Abidjan, the Ivorian capital, the bank said it had disbursed a total of $8.462 billion (UA 5.6 billion) in the year under review.
“In 2009 the non-concessional AfDB window approved a total of UA5.60 billion, compared with UA 1.81 billion, representing.....
India, for the past few years, has been actively negotiating and concluding Comprehensive Economic Cooperation Agreements (CECAs) with a number of countries. It has already entered into CECAs with Singapore in 2005 and with Korea in 2009; and is negotiating with Malaysia, Indonesia, Thailand, Mauritius and Japan. It also plans to start negotiations with Australia.
LONDON, May 27 /PRNewswire-FirstCall/ -- The Board of Directors of Indocan Resources, Inc. (OTC: IDCN) announces that it and its strategic partner Mid-Atlantic Capital have engaged KZen Equities Services Pvt. Ltd. of Mumbai, India, Mauritius and Dubai as advisors regarding the raising of capital and
Arusha's Friedkins Recreation Centre will be the venue of the southern pool of the Confederation of African Rugby (CAR) tournament scheduled to start on June 14. The pool groups Tanzanian's Twigas with Reunion, Mauritius and Swaziland.
Not everyone cheered when South Africa was awarded the 2010 World Cup. Skeptics cited security concerns and poor infrastructure as potential pitfalls for the young democracy.
But now a month before kickoff, South Africa is set to silence its critics. The country has put the requisite work into launching the event and is poised to deliver on one of the world's grandest stages.
Just as the 2008 Olympics in Beijing shone a spotlight on China, this event will serve as a vibrant demonstration that South Africa, more than any other African nation, has arrived.
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