<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 13): IHH Healthcare Bhd shares rose as much as four sen or 0.7% after its share trade resumed following a suspension today. The suspension between 9:22am and 2:30pm was in conjunction with IHH's announcement on its proposed offer to buy a controlling stake in Fortis Healthcare Ltd.</p></div>

<div class=newsTextDataWrapInner><p>At Bursa Malaysia, IHH shares rose to their highest so far today at RM6.01 at 3:10pm. At 3:21pm, the stock pared gains at RM5.98.</p></div>

<div class=newsTextDataWrapInner><p>CIMB Research said in a note today: "IHH confirmed the proposed Fortis acquisition via both new shares and open offer (at Rs170/shr) for a total 57.1% stake at Rs73.49 billion consideration (RM4.3 billion). We believe this is a fair deal at 17.7x FY3/18 EBITDA, with synergies and value to be unlocked over [an] 18-24 months' transition period."</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"We forecast IHH's net gearing to rise from the current 2.8% to about 22% by end-18," CIMB said.</p></div>

<div class=newsTextDataWrapInner><p>CIMB said it maintained its "add" call for IHH shares with an unchanged target price at RM6.86 for now. "An analyst briefing with more details of the acquisition is scheduled for this afternoon," CIMB said.</p></div>


KUALA LUMPUR (July 13): IHH Healthcare Bhd shares rose as much as four sen or 0.7% after its share trade resumed following a suspension today. The suspension between 9:22am and 2:30pm was in conjunction with IHH's announcement on its proposed offer to buy a controlling stake in Fortis Healthcare ...

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<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


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<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


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<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


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<p>Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>

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<p>Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.</p>


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<p>The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.</p>


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<p>Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).</p>


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<p>Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.</p>


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<p>YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.</p>


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<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


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<p>Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.</p>
