Malaysian sovereign group, Khazanah today extended its fractional offer for Parkway Holdings Ltd. by no less than 18 days, escalating its clash with India's Fortis Healthcare over control of the hospital chain.

Khazanah, with the help of subsidiary Integrated Healthcare Holdings Limited (IHHL), has extended the tender to 5.30 pm or after the close of the commercial day on July 26, 2010, its monetary counselors said in a filing to the Singapore Exchange.

IHHL's fractional offer was at first supposed to terminate today (July 8, 2010). Advisers CIMB Bank Berhad of Malaysia and the Singapore Branch of Deutsche Bank AG said that additional extensions of the tender may be announced from time-to-time.

Khazanah had previously made an intentional conditional cash partial tender to Parkway investors, trying to acquire 313 million shares at a price of 3.78 Singapore Dollars (SGD) for each piece.

This would lift its stake in Parkway from 23.32%, at present, to 51.5% and would give it administration control.

The IHHL tender had received 183,533,296 legitimate votes from shareholders at the close of trade on July 7, 2010, the advisers said in the declaration to the Singapore Exchange.

It had also received legal acceptance of 14,186,550 shares, showing 4.5% of the 313,000,000 offered shares, at 5 pm on July 7, 2010.