UPDATE, 31 July 2010: Khazanah buy-back 23.9% Parkway block cost rakyat a whopping RM935 million! Click here for story.
The government should immediately launch an investigation into the fiasco!
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I am not at all amused over the fight for control of Parkway Holdings Ltd (Parkway) between Khazanah Nasional Berhad (Khazanah) and Fortis Healthcare Ltd of India, which harbors a
Well said, YB Wee.
Panji panji are honoured to be associated with you, a true leader who solve problem others fear.
This Parkway/Pantai deal has enriched the very few people/perompak/pengkhianat/ brokers/faciliators in various stages.
1st Stage – Assisting one Dato TY LIM to sell to Parkway at average price of RM2.45 per share then when the market price was RM1.80. For some reason best known to the Securities Commission, Parkway managed to escape to make a GO to the rest of minorities shareholders
2nd Stage – Khazanah bail out Parkway (isn’t strange when a national asset guardian extend help to Singapore) at high price. Why high price? Because the main assets of Pantai ie Fomema and Medivest was valued on the assumption that these 2 concessions are given additional extension of 15 years!!!! Who is so gung-ho to assume automatic extension without open tender or bidding? So when the price is highly paid, naturally the commision payable should be higher, logical?
Although Khazanah paid very high price for the bail-out , the Singaporean was able to extract huge cashflow from the 2 Malaysian concession companies as well as the hospital management of all pantai hospitals
3rd Stage – Khazanah paid high price again for about 23% stake in Parkway. What Khazanah get? Only 2 independent director post via Azlan and Ganen. The entire Parkway was still control and managed ny the Singaporean. And worst cash flow from Fomema and Medivest indirectly frank upward to part finance Parkway expansion elsewhere.
4th Stage – Now Khazanah has to pay S$3.90 for Parkway share in order to have control of Parkway. In the short periiod of 5 mth, the Indiaan Fortis Group made a clean more than S$100million profit, thanks to Khazanah & gangs.
Another pertinent point is why did the Newbridge/TPG did not offer to sell it block of shares in Parkway to Khazanah which Fortis bought at S$3.50 per share in March 2010. [Remember Khazanah paid RM800 million to bail out this Newbrigde/TPG group when Badawi admited the 2 concessions has fallen into foreign hands] Its seems clear, Khazanah has been DEEPLY screwed by Newbridge/TPG!!!
Seriously someone need to investigate this expensive wheeling dealing in the Khazanah.
We Rakyat can expect Malaysia bankrupt even before 2019.
In a nutshell, Khazanah is being legally and continously being gang raped.
Yet Najib say to Rakyat, please change lifestyle!! wakakakakakakakak
Cut subsidy!!! Bodohlah, please go and fixed these major leakages that benefits few rather than cutting essential subsidy that affect majority Rakyat
Bodoh punya gomen
Najib,
It looks like you are involved directly in all this fiasco!
YB,
Darn good job you are doing. Continue to highlight the issues that really matter to the people. Keep it up. Trouble is, PM sleeping kah? Bodowi
Hmm, maybe the authorities are just not doing enough
Anwar says Ling Liong Sik is not a big enough fish for MACC: Who does Anwar want MACC to go after? read all about it HERE
Hi YB,
I hope you can update the story if you get more info on the matter.
Kamar
Hi,YB,
Now khazanah sell to Mitsui,I just went to Pantai for medical follow up, usually the medician will cost me around RM800, now I have to pay RM1586!,when I ask the cashier why so expensive,they reply these is the directive from management,and I also reply, I will never come to these hospital agian…….