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Fortis keen to grow Asian busi

(2010-07-29 22:49:37)
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INDIA'S Fortis Healthcare Ltd wants to grow its business in Asia, its chairman said, but he was mum on the group's tussle with Khazanah Nasional Bhd for control of Singapore's Parkway Holdings Ltd.

"We're well positioned to grow the business in Asia. The focus is to grow the business in Asia and (later) look at opportunities elsewhere," Malvinder Mohan Singh told the media on the sidelines of a business seminar in Kuala Lumpur yesterday.

"Healthcare is a business where we have a strategic focus and we're committed to the business."

Malvinder, who is also the chairman of Parkway, said that Fortis along with Platform pumps its strategic investment in Parkway is the largest Pan- Asian network and the world's fourth largest private healthcare provider in terms of capability, reach and infrastructure.

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It has more than 10,000 beds in 62 hospitals across eight countries.

Malvinder declined to comment on Fortis' fight with Khazanah for control of hospital operator Parkway.

Last week, Fortis and its major shareholders made a voluntary general offer for Parkway at S$3.80 (RM8.82) per share cash, a tad above Khazanah Nasional Bhd's earlier offer of S$3.78 (RM8.77) per share.

Khazanah currently owns about 23 per cent of Parkway, while Replica Piaget Watches Fortis has more than 25 per cent.

"It's all out there publicly. I have nothing more to comment," Malvinder said when asked if Fortis would raise its bid for Parkway.

He also declined to say if the subject was broached during a meeting with Prime Minister Datuk Seri Najib Razak yesterday.

Malvinder is heading the business delegation from India accompanying its Commerce and Industry Minister Anand Sharma on a visit to Malaysia and Singapore this week.

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