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Johor state govt does not rule out buying Khazanah's assets

Last Update: 07/03/2019

ISKANDAR PUTERI, March 7 (Bernama) -- The Johor state government does not rule out the possibility of acquiring Khazanah Nasional Bhd assets in the state that are up for sale, including the Legoland Malaysia Resort theme park.

 However, this would have to be on a willing-buyer, willing-seller basis, said state International Trade, Investment and Utilities Committee chairman Jimmy Puah Wee Tse.

He noted that Khazanah, through 60 per cent-owned subsidiary Iskandar Investment Bhd (IIB), also owned equity interest in other projects in the state, including Medini and EduCity.

"IIB's main role is to develop a number of catalytic projects in Iskandar Malaysia, and after a particular project has started running, its role lessens,” he told reporters outside the state legislative assembly in Kota Iskandar here today.

Puah was responding to media reports that the sovereign wealth fund was weighing a sale of Legoland Malaysia Resort.

He said the disposal of assets was common in corporate restructuring but he was confident the exercise would not lead to Legoland ceasing operation despite the change in ownership.





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