Indian hospital chain Fortis Healthcare (FOHE.BO) will buy 23.9% of Singapore’s Parkway Holdings (PARM.SI) from US buyout firm TPG Capital in an expansion drive into Asia and the Middle East.

The $959 million deal will give Fortis a foothold in Singapore and Malaysia and make it the biggest private hospital network in Asia, it said.

Cosco Corporation (Singapore) says subsidiary Cosco (Dalian) Shipyard Co. has agreed to cancel the shipbuilding contract of an 80,000 dwt bulk carrier following a request by a European shipowner.

Construction of the vessel has not commenced and as part of the order agreement, the buyer has paid compensation to Cosco Dalian.

Meanwhile, subsidiaries Cosco (Zhoushan) Shipyard Co. and Cosco (Guangdong) Shipyard Co. have, following requests from two Asian shipowners, delayed the deliveries for a total of four units of bulk carriers of 57,000 dwt each to April 2012.

Fortis Healthcare, India’s fastest-growing healthcare company, has announced the acquisition of a 23.9% strategic stake in healthcare service provider Parkway Holdings from TPG Capital (formerly Texas Pacific Group).

Parkway has a network of 16 hospitals having 3,400 beds spread over six countries, including India. The deal size is estimated to be about US$685.3 million ($959.4 million).

Singapore’s Straits Times Index gained 0.4% to 2,873.91 at the close. Two stocks rose for each share that fell on the 30-member gauge. Shares on the measure trade at 15 times estimated earnings, compared with about 17.5 times at the start of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.