<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

Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week driven by expectations around a traditionally strong period for markets.

Wall Street falls as strong holiday-shortened week nears close

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

SCGM formalises injection of agriculture business, proposes 25 sen special dividend 

Here is a brief recap of the business news and corporate announcements that made the headlines on Friday.

ViTrox, Kim Loong Resources, Crescendo, JcbNext, OCB, Paragon Globe, Tropicana, Asia Poly, Nova MSC, PUC, SCGM

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Bezos’ Miami neighbour seeking US$200 mil for empty lot

Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.

Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a Bloomberg survey of economists and the prior reading of 4.77%.

Brazil’s annual inflation unexpectedly slows, giving central bank limited respite

Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.

Vietnam PM seeks steps for double-digit GDP growth next year

Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.

Shell shuts down oil processing unit at Singapore's Pulau Bukom to probe leak

A Norwegian shipping company on Friday rejected an accusation from Dmitry Medvedev, deputy chairman of Russia's Security Council, that it refused to rescue sailors from a sinking Russian cargo ship in the Mediterranean Sea.

Norwegian shipping firm denies Moscow's claim it refused to help sinking Russian ship

OpenAI, founded a decade ago as a research organisation, is considering a change to the AI company’s structure that would create a more conventional money-making corporation alongside a non-profit arm.

OpenAI mulls plan for more conventional for-profit business 

Over 330 initial public offerings (IPOs), US$20 billion (RM89.34 billion) of proceeds and more than US$160 billion addition in country’s market value, sums up a bumper year for India that is set to further strengthen its position among top global destinations for capital raising.

Roaring debuts cap a bumper year for IPOs in India

<p>Industrial services firm Swift Energy Technology Bhd's initial public offering (IPO) was oversubscribed by 58.09 times for the 50.04 million new shares offered to the public, the issuing house said on Friday.</p>


Swift Energy's IPO shares for public oversubscribed by 58 times

<p>Here is a brief recap of the business news and corporate announcements that made the headlines on Friday.</p>


<p>The LED Fantasy Light Carnival held at the Bukit Gambir Multipurpose Hall has been ordered to cease immediately and has been fully shut down.</p>

<p>The Tangkak District Council (MDT), through a post on its Facebook page, announced that an investigation found the organisers had failed to comply with the conditions for holding the carnival, particularly in terms of its sensitivity to the local community.</p>


Tangkak LED Fantasy Light Carnival shut down over Chinese flag on rocket

<p>Chinese national Huang YongKang has emerged as Asia Poly Holdings Bhd's (KL:ASIAPLY) second biggest shareholder after taking up the entire 95.85 million shares issued under a private placement.&nbsp;</p>

<p>The shares represent a 9.09% stake in the Klang-based cast acrylic sheets manufacturer.</p>


Asia Poly sees emergence of new substantial shareholder

<p>SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.</p>


<p>Loss-making OCB Bhd (KL:OCB) is to sell its loss-making and indebted wholly owned subsidiary Agrow Malaysia Sdn Bhd for RM3 million cash.</p>

<p>The purchaser, Tan Sim Lam, will also take over OCB’s role as the building materials unit’s guarantor of RM20.32 million debt as part of the deal, according to the consumer food and bedding maker’s bourse filing on Friday.</p>


OCB to offload debt-laden building materials business

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week driven by expectations around a traditionally strong period for markets.</p>


<p>A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.</p>

<p>The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.</p>


<p>Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.</p>


<p>European natural gas advanced after Russian President Vladimir Putin cast further doubt on the likelihood of a deal to maintain flows to Europe via Ukraine.</p>

<p>Benchmark futures jumped as much as 5% on Friday, the most in a week. Putin said on Thursday it would be impossible to arrange a new transit contract before year’s end, when the current agreement expires.</p>


European gas jumps as Putin doubts new transit deal can be made

<p>One week after the Dec 4 murder of UnitedHealth Group Inc executive Brian Thompson, Americans were able to bet on the fate of his alleged killer. Some people, including financial regulators, may have a problem with that.</p>


Bets on fate of UnitedHealth CEO murder suspect test rules on event contracts

<p>A Norwegian shipping company on Friday rejected an accusation from Dmitry Medvedev, deputy chairman of Russia's Security Council, that it refused to rescue sailors from a sinking Russian cargo ship in the Mediterranean Sea.</p>


<p>Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.</p>


<p>Bonds in Europe slid on Friday, with thin volumes compounding the moves and extending a rapid selloff this month as traders bet on a less aggressive pace of interest-rate cuts from major central banks.</p>


Bonds fall as thin year-end trading compounds December selloff

<p>San Francisco is projecting a US$876 million (RM3.9 billion) budget shortfall over the next two fiscal years, prompting Mayor London Breed to instruct city departments to plan for 15% across-the-board spending cuts.</p>


San Francisco expects US$876m budget gap, warns of cuts

<p>US tech investor Cathie Wood is calling on Donald Trump's incoming administration to boost economic growth and policy certainty by backdating promised corporate and personal tax cuts to Jan 1, 2025, she told <em>Reuters</em>.</p>


Ark's Cathie Wood calls for tax clarity from Trump's incoming administration

<p>Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.</p>

<p>Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a <em>Bloomberg </em>survey of economists and the prior reading of 4.77%.</p>


<p>OpenAI, founded a decade ago as a research organisation, is considering a change to the AI company’s structure that would create a more conventional money-making corporation alongside a non-profit arm.</p>


<p>Over 330 initial public offerings (IPOs), US$20 billion (RM89.34 billion) of proceeds and more than US$160 billion addition in country’s market value, sums up a bumper year for India that is set to further strengthen its position among top global destinations for capital raising.</p>
