Khazanah: No offers for Legoland yet

There have been no offers on the table for a purchase of Legoland Malaysia Resort, says sovereign wealth fund Khazanah Nasional Bhd.

Commenting on a Bloomberg report that Khazanah was mulling the sale, managing director Sharil Ridza Ridzuan said this would only be done if the price is right.

According to Sin Chew Daily, Sharil said his company will consider such offers, which might generate income needed for other investments.

Legoland Malaysia Resort opened its doors in 2012 and was billed the first international theme park to be located at the Iskandar Malaysia zone.

The resort is owned by Khazanah subsidiary Themed Attractions Resorts & Hotels Sdn Bhd (TAHR), which was formed in 2000.

TAHR's other Iskandar Malaysia assets include the Marina Walk Puteri Harbour, Sanrio Hello Kitty Town theme park, Thomas Town theme park and Hotel Jen Puteri Harbour.

Iskandar Malaysia once enjoyed high demand as the most sought-after real estate market behind the Klang Valley and Penang during the 2009-2013 property boom.

However, Iskandar Malaysia now has the highest number of unsold residential properties and potentially the largest excess supply of retail space, according to a Bank Negara bulletin last November.

Khazanah today announced that a pre-tax loss of RM6.27 billion in 2018 which it attributed to global uncertainties and a domestic economic slowdown.

Shahril Ridza, who took charge of the fund in August, said that the present federal government will attempt to restructure the fund.

"The government initiated a reset of Khazanah, which involved significant changes including a refreshed mandate," he said. - Mkini

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