GIC will invest 3.7 billion pesos (US$84 million) in a Philippine hospital group

[Force 136]

SINGAPORE: Singapore sovereign wealth fund GIC will invest 3.7 billion pesos (US$84 million) in a Philippine hospital group to help fund the latter's expansion.

In return, GIC will get a 14.4 per cent stake in Neptune Stroika Holdings Inc (NSHI), which will be the holding company for all of Metro Pacific Investments Corporation's (MPIC) hospital investments.

GIC will, in addition, advance to MPIC 6.5 billion pesos (US$149 million) by way of an exchangeable bond, which can be exchanged into a 25.5 per cent stake in NSHI in future, subject to certain conditions.

Proceeds from the exchangeable bond will be used by MPIC for continuing investments in roads, power and water.

GIC, which has well over US$100 billion in assets under management, handles a large portion of Singapore's foreign reserves.

NSHI owns eight hospitals in the Philippines with a total capacity of 2,200 beds as well as a mall-based diagnostic centre.

- CNA/gn

 

[gingerlyn]

HO say liao.
next time you can seek treatment in Pinoy land instead of staying in Singapore.
after all that is ex Health Minster Kaw Boon Wan idea to force you to stay in JB and now in Manila

 

[melzp]

investing in shanty slumpy islands of crooks. did GIC ever visit there.?

 

[tanwahtiu]

shake head. They have too much of your CPF money and now spend on poor countries that dont have CPF, min sum or medicare.

With incompetent PM LHL at the helm Singapore is doom, PM with poor vision for Singapore. shake :*:head.

investing in shanty slumpy islands of crooks. did GIC ever visit there.?

 

[ACMILAN]

They should invest in my club.

 

[Dark Knight]

Waste of tax payers $$$$.
Spend that 3.7 billion pesos (US$84 million) in expanding the hospitals and facilities in Sillypore will be much better
than giving to all those cronies in Pinoy land.

 

[McDonaldsKid]

Smacks of 'economic defence'.

 

[laksaboy]

investing in shanty slumpy islands of crooks. did GIC ever visit there.?

Of course, how else do you think Jollibee managed to set up shop in Sinkieland? Greasing palms and easing red tape.

Look who they had invited on its opening day. It's friggin' a fast food joint.