PNB, EPF Reaffirm Commitment To Battersea Project, Says No Immediate Plan To Exit

KUALA LUMPUR, Oct 29 (Bernama) -- The Battersea project in London, United Kingdom, owned by a consortium led by Sime Darby Property Bhd and SP Setia Bhd, remains a key strategic investment for its shareholders, said Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF). 

In a joint statement, PNB and EPF said the Battersea Power Station building, within the Battersea Power Station commercial precinct, is jointly owned by PNB and EPF, having been acquired as part of their global real estate investment portfolio .

"Both organisations remain fully committed to realising the full potential of the investment and are confident in its prospects and potential upside value. As such, there are no immediate plans to proceed with any exit," they said. 

Given the iconic nature of the Battersea asset, both organisations said they receive proposals from time to time from parties interested in investing in the project. 

As investors, PNB and EPF said they would evaluate any such proposals carefully in line with their respective investment criteria and considerations, which are always based on creating value for the benefit of PNB unitholders and EPF members. 

"As such, when investments reach maturity and achieve targeted returns, we would consider opportunities for monetisation or the introduction of strategic partners to support future capital requirements and growth," they added. 

-- BERNAMA