The partial offer for Parkway Holdings Ltd has been extended by 18 days by Malaysian sovereign fund Khazanah. This was done on July 26, 2010, as told by financial advisers of the company in a filing to the Singapore Exchange, through its subsidiary Integrated Healthcare Holdings Limited (IHHL). The offer was originally supposed to expire on July 8, 2010 and was to be completed by buying 313 million shares of Parkway at a price of 3.78 Singapore dollars, per share. This would move up its stake in Parkway from 23.32%to 51.5%, giving it the control of management in the hands of Khazanah.

Fortis has a stake of 25.37% in Parkway and currently has management control. The Malaysian Company is struggling to have control of the hospital chain of India's Fortis Healthcare.

Further extensions of the offer are expected, as stated by advisers of CIMB Bank Berhad of Malaysia and the Singapore Branch of Deutsche Bank AG.

At the close of business on July 7, 2010, the IHHL offer had received 183,533,296 legitimate votes from shareholders, as told by the advisers.

It had also received legitimate acceptance of 14,186,550 shares, representing 4.5% of the 313,000,000 offer shares, on the same date.

Parkway’s shares were offered at SGD 3.80 per piece by Fortis owners Malvinder Mohan Singh and Shivinder Mohan Singh earlier this month.

Khazanah is also in talks with banks to borrow SGD 1 billion to realize this deal, as per banking sources.