Khazanah confirms healthcare unit to be listed next year

SunDaily: KUALA LUMPUR (Nov 27, 2011): Khazanah Nasional Bhd will float shares in its hospital operating unit, Integrated Healthcare Holdings Sdn Bhd, next year, says its managing director Tan Sri Azman Mokhtar.
Speaking to reporters after the 16th Malaysian Capital Market Summit last Friday, he however declined to reveal the size of the initial public offering and the listing venue.
Meanwhile, Khazanah spokesman Mohd Asuki Abas said the listing is subject to the board's deliberation.
They were commenting on recent news reports that Integrated Healthcare, which is majority owned by Khazanah, is planning to list in the first half of 2012 in Singapore or Kuala Lumpur and could potentially raise up to US$2 billion (RM6.39 billion).
Khazanah owns 70% of Integrated Healthcare, which in turn owns 100% of Singapore-based Parkway Pantai Ltd, Pantai Holdings Bhd, IMU Health Sdn Bhd and has a 12.2% stake in India's Apollo Hospitals Enterprise Ltd.
Earlier, during the summit, Azman said while government-linked companies (GLCs) are the economic driver, there is a need for regional strategy and collaboration, especially if companies are not able to expand on their own.
He said the government started promoting private-public collaborations two years ago.
"Although partnerships such as between Malaysia Airlines and AirAsia are controversial, they are necessary," he said at a session titled "Conversations with GLC Leaders — GLC Transformation — Drivers of Transformation, Creators of Wealth".
On mergers and acquisitions such as that between government-linked UEM Land Holdings Bhd and private property developer Sunrise Bhd, Azman said such companies are not crowding out the private sector.
He said private-public partnerships are encouraged if the companies can work together and complement each other.