Fortis files complaint against Khazanah at SIC

Jul 22, 2010 |

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Singapore, July 22: India's Fortis Healthcare today approached the market watchdog Securities Industry Council here alleging misleading of Parkway shareholders by Khazanah by claiming that majority of them have voted in favour of the Malaysian fund's partial offer.

A letter to the SIC by Fortis' legal representatives said the press release issued yesterday by Integrated Healthcare Holdings (IHHL), the arm of Khazanah, calls into question the purpose and intention behind it.

IHHL had said it has received the approval of the majority of eligible shareholders of Singapore-based hospital chain Parkway who have so far voted on its partial offer.

"This calls into question the purpose and intention behind the IHHL announcement ... whether the intention is to put a positive spin and mislead shareholders into thinking that shareholders support the partial offer," the joint letter by Stamford Law Corporation and Rajah & Tann LLP on behalf of Fortis said.

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