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when I read this kind of news, I often wonder if the PM is knows what is happening around him....or is his little Napoleons stabbing him in the back.

I think the PM has to clean the people around him.....

If I'm not wrong, the FIC (Foreign Investment Committee) allows the threshold 30% of foreign shareholdings to be increased if :-
1. it gives direct and substantial benefits to M'sia
2. encourage by the govt of M'sia
3. it constitute a rescue operations of a company in M'sia

I'm not familar nor privy to the going-ons of Pantai Hospital, and assuming that specialty is important in the healthcare industry especially to the social needs and what if the govt can proof that :-
1. the hospital is in need of special or unique equipment that can not be sourced locally and requires S'pore participation / influence to do so
2. a particular faculty or expertise not available in M'sia and this S'pore company may be able to provide that

Its actually roughly the same as what happened to Digi, whilst for this Pantai issue, its only 31% foreign interest, isn't it justified if the govt really can proof something?

"... penjualan saham Pantai kepada pihak Singapura sebanyak 31% itu bercanggah dengan garis panduan penggabungan dan pengambil alihan milik yang dikeluarkan oleh Jabatan Perdana Menteri" - PAS

I think the monitoring mechanism is extremely weak! Wasn't the Security Commission aware of these guidelines?

YAB Dato Seri, you should fire all those people who's suppose to do the job for you. Do the country a favour will you please?

menarinari01, with 31%, Parkway has become the largest shareholder in Pantai. It is enough for them to take control of the company. In another words, Pantai is effectively a subsidiary of Parkways, a foreign company.

Subsequently, there are two government concessions have fallen into foreign hands. With this, (1) it does not benefits Malaysia (2) The gov should not encourage this (3) Pantai was not loosing money, so cannot be a rescue-lah.

Going back to the history, it was reported that the Group Chief executive, Datuk Lim Tong Yong acquired the shares from Datuk Mokhzani Mahathir (Mahathir's son), later sold about 22.5% of the company's stake to Parkway at a high price. At about similar time frame, Parkways was using its newly registered RM2.00 subsidiary, Swiss Zone Sdn Bhd, to acquire an additional 8.8% stakes from the market. Everything was paid in cash.

Consequently there will be tremendous out flow of government income to a foreign company and this affect us, the citizens of Malaysia.

Add to streetz observation

In a nutshell,

The Seller, Datuk Lim Tong Yong bought Pantai cheap from Mokhzani in 2001.

In 2005, Buyer, Parkway knowing very well the Bumiputra condition on the 2 lucrative concession companies, went ahead to buy Pantai , at quite a high price RM2.54 per share. Gung Ho or Just Do It - ala Nike

Now Government after one year, woke up, found out something not right.

Parkway now send tell sign in media (Star 12 August 2006) - Don't touch me unless you pay us off for bolehland's problem.

But this PAS Husam fella, ask the right question, why take so long to find out? Does anyone aware before this?

But, if I am Singaporean, I will take the maximum advantage over bolehland weakeness. For business purpose, actually can't blame them.