PETALING JAYA: Khazanah Nasional Bhd is
actively pursuing investments in healthcare and insurance sectors, going by
recent reports.
Reuters reported yesterday that the sovereign
wealth fund had committed to purchase US$150mil (RM479.8mil) worth of H-shares
in New China Life Insurance Co Ltd.
Also this week, a Bloomberg report stated that
Khazanah's unit may buy a stake in Turkey's largest hospital chain, Acibadem
Saglik Hizmetleri & Ticaret AS for US$1bil (RM3.2bil). It said Khazanah,
which was bidding through its hospital unit Integrated Healthcare Holdings Sdn
Bhd, was in exclusive talks with Acibadem's co-owner Abraaj Capital Ltd after
it outbid rivals including Fortis Healthcare International Pte Ltd.
Khazanah is in the process of listing its
healthcare arm. “God willing, the listing will be next year,” Khazanah managing
director Tan Sri Azman Mokhtar was quoted as saying.
Khazanah owns 70% of Integrated Healthcare
while the balance is held by Japan's Mitsui & Co Ltd.
In June last year, Integrated Healthcare
offered S$3.5bil (RM8.6bil) for the rest of Singapore's Parkway Holdings Ltd,
beating a rival bid from Fortis Healthcare Ltd. It also owns Pantai Hospitals
Sdn Bhd, the second biggest hospital operator in Malaysia, and has an
investment in Apollo Hospitals Enterprise Ltd. Apollo is India's largest
private hospital group. It is listed on the stock exchanges of Madras and
Mumbai, in India.
Khazanah also owns 100% in International
Medical University (IMU) which owns IMU education.
The state fund has been hiving off non-core
business holdings to raise cash for its investment needs. It had recently sold
its 32.21% stake in Pos Malaysia Bhd for RM622.8mil to DRB-HICOM Bhd. Its
wholly owned subsidiary UEM Group had sold its entire stake of 86.81% in Pharmaniga
to Boustead for RM534mil in June 2010.
The state investment arm was also been
reported to be in the running to take up a block of shares in the listing of
AIA Group Ltd, Hong Kong Stock Exchange's biggest initial public offering in
2010.
As at Oct 31, Khazanah has a 31.58% stake in
ACR Capital Holdings Pte Ltd. ACR Capital's wholly-owned subsidiary, Asia
Capital Reinsurance Group Pte Ltd, focuses on providing clients reinsurance
solutions for large and specialist risks in the pan-Asian region. Singapore-based
Asia Capital has a regional presence in Hong Kong, India, Taiwan, Japan,
Malaysia, Bahrain and Dubai.
The Star
Business & Investment Opportunities
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