IRB approves Pantai Holdings equity transfer to Parkway Pantai

KUALA LUMPUR: The Inland Revenue Board of Malaysia (IRB) has approved the transfer of 100% equity interest in Pantai Holdings Bhd to Parkway Pantai Ltd (PPL), aiming to streamline the PPL Group structure.

PPL is an indirect unit of IHH Healthcare.

IHH told Bursa Malaysia in a statement on Tuesday that the exercise had taken effect since July 2014.

"The internal reorganisation is not expected to have any effect on the issued and paid-up capital of IHH or IHH’s substantial shareholders’ shareholdings or any effect on the earnings, net assets or gearing of IHH on a consolidated basis for the financial year ending Dec 31, 2014," the group said.