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Khazanah vie for stake in Sri Lanka companies

 | June 6, 2016

Khazanah has attended presentations by the Sri Lanka Government on four state-owned enterprises.

Lanka-Hospitals-CorporationKUALA LUMPUR: Khazanah Nasional Berhad and a Singapore hospital chain have both shown interest in buying majority shares in Lanka Hospitals Corporation PLC (LHCL) amidst reports that the Sri Lanka Government may decide to let it go, according to the Business Times.

The state-owned Sri Lanka Insurance Corporation (SLIC) holds a 54.61 per cent stake in LHCL, previously known as Apollo Hospitals Colombo.

Hemas and the Softlogic Group, both local companies, were the first to express interest in LHCL. Softlogic, which controls Asiri Hospital Holdings PLC (Asiri), Asiri Surgical and the Central Hospital, is the largest listed private hospital group in Sri Lanka in terms of revenue and profits. It told Business Times that LHCL would be a lucrative opportunity for the group.

Khazanah, which has a 10 per cent stake in John Keels Holdings through Broga Hill Investment – a Special Purpose Vehicle – has attended presentations by the Sri Lanka Government on four state-owned enterprises viz. Hilton, SLIC, LHCL and Sri Lanka Airlines. Khazanah Deputy Chairman Nor Mohamed Yakop led a four-man team to attend the presentations.

Khazanah has stakes in power, telecommunications, finance, healthcare, aviation, infrastructure, leisure, tourism and property, among others.

The Singaporeans, according to Business Times, are coming next month to attend a briefing by the Sri Lanka Government on LHCL.

Hemas told Colombo Stock Exchange (CSE) in an announcement that it was interested in LHCL if the government decides to let it go. The company was commenting on reports that the Sri Lanka Government was willing to sell its stake in companies like LHCL.


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