<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 4): IHH Healthcare Bhd&nbsp;(KL:<a href="/askedge/klse/5225" class="ce-stock" target="_blank">IHH</a>) has won the bid for the Island Hospital in Penang that is owned by Asian buyout fund Affinity Equity Partners, according to sources.</p></div>

<div class=newsTextDataWrapInner><p>It is learnt that its winning bid is around RM4 billion. The private hospital operator is expected to make an announcement on the deal later today.</p></div>

<div class=newsTextDataWrapInner><p>It was previously reported in June that both IHH and Sunway Medical Centre were among bidders vying for the hospital that Hong Kong-based Affinity bought in June 2015.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Private equity firms CVC Capital Partners and TPG Capital had also submitted initial bids, <em>The Edge</em> weekly reported, citing sources.&nbsp; At the time, the deal was said to be worth&nbsp;between RM3.76 billion and RM4.7 billion.</p></div>

<div class="embed-right imgw-400"><img alt="" src="https://assets.theedgemarkets.com/pics/2024/ihh-flashback-090424.jpg" /></div>

<div class=newsTextDataWrapInner><p>Island Hospital is a 600-bed hospital in Penang. Founded in 1996, the hospital today has over 80 full-time specialists and treats 400,000 patients annually, according to its website.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/725519" target="_blank">IHH Healthcare to acquire Island Hospital for RM3.92b cash</a><br />
<a href="https://theedgemalaysia.com/node/716520" target="_blank">Are IHH and Sunway prepared to pay more than RM4 billion for Island Hospital?</a><br />
<a href="https://theedgemalaysia.com/node/716174" target="_blank">IHH, Sunway among bidders for Island Hospital, Reuters reports</a></em></p></div>


IHH Healthcare Bhd has won the bid for the Island Hospital in Penang that is owned by Asian buyout fund Affinity Equity Partners, according to sources.

IHH wins RM4b bid for Island Hospital Penang — source

Pengurusan Air Selangor Sdn Bhd (Air Selangor) is exploring the use of advanced water treatment technologies through artificial intelligence (AI) to monitor, predict and detect the quality of raw water from Selangor’s rivers before it is treated at the state’s 34 water treatment plants.

Air Selangor looking into AI solutions to better manage water pollution

Wheat fell as weak demand and improving weather in the US overshadowed an outsized interest-rate cut from the Federal Reserve.
 
Futures in Chicago dipped as much as 1.8%, extending losses this week amid weaker exports for European Union soft wheat and better conditions for US winter wheat planting.

Wheat drops as weak demand, better US weather outweigh Fed cut

Europe's incoming antitrust chief Teresa Ribera plans to loosen the bloc's competition rules to strengthen European industries and speed up regulatory scrutiny of merger deals, according to an interview in Spanish newspaper El Pais on Thursday.

Incoming EU antitrust chief Ribera plans to ease antitrust rules, says El Pais

Treasury Secretary Janet Yellen said that the Federal Reserve’s interest-rate cut Wednesday was “a very positive sign for where the US economy is,” reflecting progress in bringing down inflation and a determination to protect the job market.

Yellen says US Fed cut ‘positive sign,’ policy still restrictive

The US Senate will prepare temporary spending legislation that would avert a partial government shutdown at the end of the month, Senate Democratic Leader Chuck Schumer said on Thursday.

US Senate to move on stopgap bill to avoid partial government shutdown

Walmart Inc customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.

Walmart plans instant bank payments, cutting out card networks

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

US existing-home sales drop to lowest level since October

Here is a brief recap of some corporate announcements that made the news on Thursday.

Pharmaniaga, Country Heights, EcoWorld, SSF, United Malacca, Ancom Nylex 

Wall Street’s biggest banks are divided over how fast and deep the US Federal Reserve will cut interest rates over the next year, setting the stage for jittery financial markets until the outlook clears.

Big banks are split on how fast the Fed will cut interest rates

Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction and forecast more cuts were on the horizon.

Wall Street jumps with tech stocks in the lead after Fed kicks off easing cycle

<p>The 50-basis-point (bps) policy rate cut by the US Federal Reserve early on Wednesday is expected to stimulate domestic consumption in the US and keep its economy from slowing too rapidly.</p>


US Fed rate cut fuels optimism for sustained Malaysian export recovery after August growth beats

<p>PUTRAJAYA (Sept 19): The Court of Appeal (COA) has allowed on Thursday for a joint hearing of the Federal Territory (FT) Land Registrar’s and Semantan Estate (1952) Sdn Bhd’s opposing appeals on the “Duta enclave” issue on Nov 7 this year.</p>


Appellate court allows joint hearing of govt and Semantan Estate’s appeal on Nov 7, unless settlement is reached beforehand

<p>KUALA LUMPUR (Sept 19): New vehicle sales in Malaysia fell 2.3% in August this year,&nbsp;from a year earlier, the Malaysian Automotive Association (MAA) said on Thursday.</p>


New vehicle sales in Malaysia down 2.3% year-on-year in August 2024, says MAA

<p>BALI (Sept 19): AirAsia is planning to expand its network in Indonesia, particularly in East Nusa Tenggara, the southernmost province of the country, according to Capital A Bhd (KL:CAPITALA) chief executive officer Tan Sri Tony Fernandes.</p>

<p>“We recently launched flights to Labuan Bajo, wh...

AirAsia eyes expansion in eastern Indonesia with new routes

<p>China is widely expected to trim its main policy and benchmark lending rates on Friday, a <em>Reuters</em> poll showed, after the Federal Reserve's outsized interest rate cut removed some of the risks around sharp yuan declines.</p>


China expected to trim main policy rate and lending benchmarks

<p>Datuk Seri Dr Shahril Mokhtar has stepped down as managing director of technology firm Green Packet Bhd (KL:GPACKET) after almost a year in the job.</p>

<p>He previously served as the managing director of Prasarana Malaysia Bhd and chief executive officer of Mass Rapid Transport Corp Sdn Bhd (MRT Corp).</p>


Former MRT Corp CEO Shahril Mokhtar steps down as Green Packet MD after almost one year

<p>PUTRAJAYA (Sept 19): The Immigration Department is conducting a review and will implement extensive reforms to its work processes and service delivery,&nbsp;in response to concerns raised by the Malaysian Anti-Corruption Commission (MACC)&nbsp;chief commissioner Tan Sri Azam Baki.</p>


Immigration Dept to reform work processes following MACC chief’s feedback — DG

<p>Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further interest-rate reductions this year.</p>


Asian currencies hit 14-month high as US Fed cuts interest rates

<p>(Sept 19):&nbsp;India’s overtaking of China in some global gauges will likely usher in a bigger influx of foreign flows, giving equities in the South Asian country another boost.</p>


India’s eclipsing of China in MSCI global stock gauges to drive flows

<p>Automotive components maker KHPT Holdings Bhd (KL:KHB), which launched its initial public offering (IPO) for the ACE Market of Bursa Malaysia, said the company will remain focused on serving domestic carmakers, namely Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) for the time being.</p>


ACE Market-bound KHPT to continue to focus on local carmakers amid strong sales outlook

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday</p>


FBM KLCI gains 0.3% to 1,665.65 on Sept 19, 2024

<p>The chief executive officer (CEO) of Global Ikhwan Services and Business Holdings (GISBH) and his wife were among 19 individuals remanded for seven days starting Thusday.</p>


GISBH CEO and wife among 19 nabbed, remanded for a week

<p>The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, pointing to solid job growth in September and offering confirmation that the economy continued to expand in the third quarter.</p>


US weekly jobless claims drop to four-month low

<p>The world's biggest palm oil exporter Indonesia will introduce a new set of monthly levies in a bid to improve competitiveness against rival edible oils, a regulation published on Thursday by its finance ministry showed.</p>


Indonesia issues new palm oil levies rule to boost competitiveness

<p>The US has no immediate plans to withdraw a mid-range missile system deployed in the Philippines, despite Chinese demands, and is testing the feasibility of its use in a regional conflict, sources with knowledge of the matter said.</p>


US keeps missile system in Philippines after joint exercises as China tensions rise, tests wartime deployment

<p>Intel said on Thursday it had no plans to sell its majority stake in Mobileye Global, sending shares of the self-driving tech firm up more than 13%.</p>


Intel says has no plans to divest majority stake in Mobileye

<p>Eco World Development Group Bhd (KL:ECOWLD) reported a 21.26% year-on-year increase in its third quarter net profit, driven by improved earnings contributions from its Malaysian operations.</p>


EcoWorld's 3Q profit jumps 21% as revenue and margin improve; 10-month sales exceed FY2024 target

<p>The Malaysian Bar Council has raised concerns over the ongoing delay in the appointment of a new Chief Judge of Malaya (CJM) — the third highest position in the judicial hierarchy — saying it should be expedited to ensure effective administration of justice and continued public confidence in the country's legal system.</p>


Malaysian Bar calls for appointment of new chief judge to be expedited after seven-month vacancy

<p>KUALA LUMPUR (Sept 19): Deputy Investment, Trade and Industry&nbsp;secretary-general (Industry) Datuk Hanafi Sakri&nbsp;said&nbsp;Malaysia and Palestine will sign a memorandum of understanding (MOU) to boost bilateral cooperation in several sectors.</p>
