Another scoop by Government of Singapore Investment Corporation Pte Ltd (GIC) which involved GIC emerging as a substantial shareholder of healthcare operator Pantai Holdings Bhd with a 5.01 per cent stake following recent purchases in the open market.

Filings to Bursa Malaysia show that Government of Singapore Investment Corporation Pte Ltd (GIC) owns 25.59 million Pantai shares after having acquired 1.07 million shares on July 28.

With GIC’s shareholding and the existing Singapore’s Parkway Holdings Ltd also controlling 26.43 per cent stake in Pantai as at June 28, about one third of the shares are now owned by the Singaporean.

However, according to analysts, while this may be politically sensitive, the development should not be hurting Pantai’s operations or its stock. The  GIC’s heightened interest may have been a reflection of its confidence in Parkway’s management of Pantai.

Pantai potentially stands to benefit from regional involvement which might be a good way to grow.

Incidentally, Parkway is South-East Asia’s largest healthcare provider, while GIC is a global investment management firm that was set up in 1981 to manage Singapore’s foreign reserves.

Pantai shares closed one sen higher to RM2.30 yesterday