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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Khazanah units in JV to develop ’smart city’

Posted on 03 July 2014

Telekom Malaysia Bhd (TM) has entered into a deal with UEM Sunrise Bhd and Iskandar Investment Bhd (IIB) to form a joint venture (JV) company that will offer and operate smart services in Nusajaya, Johor. TM will hold a controlling stake of 51% in the JV at a cost of RM31 million.
Khazanah Nasional Bhd is the major shareholder of UEM Sunrise via its wholly owned subsidiary, UEM Group Bhd, as well as being the major shareholder of TM and IIB, and Khazanah is deemed to be interested in the proposed JV………………………………………..Full Article: Source


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