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7 April 2011

Khazanah welcomes Mitsui as a strategic partner and shareholder in Integrated Healthcare

Khazanah Nasional Berhad (“Khazanah”) is pleased to announce that it has today entered into definitive agreements with Mitsui & Co., Ltd. (“Mitsui”) of Japan, to see Mitsui’s nominated wholly owned subsidiary emerging as 30% shareholder in Integrated Healthcare Holdings Sdn Bhd (“Integrated Healthcare”). Khazanah via its wholly owned subsidiary, Pulau Memutik Ventures (“PMV”) will own the remaining 70% of Integrated Healthcare. This transaction of RM3,300 million values Integrated Healthcare at a pre-transaction equity value of RM9,022 million, a post-transaction equity value of RM11,000 million and an enterprise value of RM14,612 million. The transaction is subject to relevant regulatory approvals.

Under the agreement, Mitsui’s subsidiary would subscribe to 989 million of new ordinary shares representing approximately 18% of the enlarged share capital of Integrated Healthcare; and acquire 661 million existing ordinary shares in Integrated Healthcare representing up to approximately 12% of the enlarged share capital of Integrated Healthcare. Integrated Healthcare will raise RM1,978.0 million as new equity as part of this transaction whilst PMV would raise RM1,322.0 million from the sale in the form of Rights To Allotment (“RTA”) to be renounced in favour of Mitsui’s subsidiary upon the fulfillment of condition precedents.

PMV and Mitsui’s subsidiary will also enter into a shareholders’ agreement, upon completion. Mitsui will nominate 2 members to the Boards of Integrated Healthcare and Parkway Holdings Limited following the completion of the transaction.

Khazanah Managing Director, Tan Sri Dato’ Azman Haji Mokhtar said: “We are delighted with this strategic relationship with Mitsui in Healthcare and excited with the opportunity to work together in this fast growing sector. We started discussions with Mitsui some 16 months ago and this landmark transaction marks another significant milestone in building the leading regional healthcare franchise. We also believe this partnership will be the start of other collaboration between Khazanah and its investee companies and Mitsui in other sectors and geographies that we could work together on.”

Mitsui President and CEO, Masami Iijima said: “Mitsui is delighted at this excellent opportunity to become a partner of Khazanah and to contribute to the future prosperity of Asia. Mitsui believes that Integrated Healthcare will provide solutions to emerging demand of better quality and safe, trustworthy healthcare services. Mitsui is determined to contribute to the continuing growth and success of Integrated Healthcare by utilizing our global business network. Mitsui also looks forward to developing various activities, through the partnership with Khazanah.”

Tan Sri Dr Abu Bakar bin Suleiman, Chairman of Integrated Healthcare said: “Integrated Healthcare warmly welcomes Mitsui as a strategic investor and we see this as an affirmation of Integrated Healthcare’s position as Asia’s leading integrated healthcare services platform with an extensive footprint across South East Asia, India, China and the Middle East. Integrated Healthcare’s unique presence across the primary, tertiary, ambulatory and ancillary healthcare segments as well as medical education will be greatly enhanced by Mitsui’s involvement and support.”

Dr Lim Cheok Peng, Executive Director of Integrated Healthcare said: “We welcome Mitsui as a strategic shareholder in Integrated Healthcare. We have had a partnership with Mitsui in Clinical Research via Parkway Gleneagles CRC since Jan 2010. We believe the partnership between our controlling shareholder Khazanah and Mitsui provides us with the strong long-term institutional shareholding that Integrated Healthcare needs to realise our growth plans at Parkway, Pantai, IMU and in support of Apollo.”

CIMB acted as Financial Adviser to Khazanah, PMV and Integrated Healthcare on this transaction.

END

About Khazanah Nasional Berhad
Khazanah is the investment holding arm of the Government of Malaysia entrusted to manage the assets held by the Government and to undertake strategic investments. Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company. The share capital of Khazanah is owned by the Minister of Finance, a body corporate incorporated pursuant to the Minister of Finance (Incorporation) Act, 1957.
For more information, visit http://www.khazanah.com.my.

About Mitsui & Co., Ltd.
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 156 offices in 66 counties as of Mar, 2011. Utilizing the global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Motor Vehicles, Marine & Aerospace, Chemicals, Energy, Foods & Retail, Consumer Services, IT, Electronics and Telecommunications, Financial Markets and Transportation Logistics.
For more information, visit http://www.mitsui.com/jp/en/

About Integrated Healthcare Holdings Sdn. Bhd.
Integrated Healthcare, which controls 100% of Parkway Holdings Limited, Pantai Holdings Berhad, IMU Health Sdn. Bhd. and a 8.8 % stake in Apollo Hospitals Enterprise Limited, has one of the leading portfolio of healthcare assets in the region. Integrated Healthcare has a presence and projects under development in Malaysia, Singapore, Brunei, China, India and Abu Dhabi.



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