Parkway asks BT to stop implying

Singapore's leading healthcare operator said the Business Times article does not capture concerned parties' key point obligations in the agreement.

Parkway's board of directors said it is not meaningful at this point to predict the implications on Parkway, if any, should deadlock or misunderstanding happen, referring to the article titled, “If Khazanah fails, poison pill could hurt Parkway” published on Business Times on 30 June 2010.

The agreement concerns Khazanah Nasional Berhad (Khazanah) and Pantai Irama Ventures Sdn Bhd (Pantai).

As with all any agreement, several events will need to take place, Parkway pointed out in a statement on Thursday.

“As is usual with any form of joint venture, the Shareholders Agreement provides for a mechanism to resolve any deadlock. This would involve parties being obligated to first negotiate in good faith to resolve the deadlock, failing which to negotiate in good faith to effect a sale to each other, and failing which, to take all necessary steps to jointly dispose their interests to a third party,” the statement explained.