By Sharen Kaur
Published in NST on January 18, 2013
Published in NST on January 18, 2013
KUALA LUMPUR: Khazanah Nasional Bhd said it will look at new collaborations between its subsidiary companies and the private sector to form larger entities like the UEM-Sunrise deal, in a bid to enlarge its portfolio.
In 2010, UEM Land Holdings Bhd, in which Khazanah holds 65 per cent stake, took over Sunrise Bhd for RM1.4 billion, creating Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 4,800-hectare landbank.
Managing director Tan Sri Azman Mokhtar added that Khazanah, through its subsidiaries in diversified sectors, will also continue to invest in privatisation projects and concessions which are viable.
He said Khazanah, the government investment arm, is eyeing several investment deals, but added that it was premature to comment on the matter.
On whether its infrastructure and construction outfit UEM Group Bhd is buying highway operators Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint) and Lingkaran Trans Kota Holdings Bhd (Litrak), Azman said he could not comment on the matter at it was at a different level.
Business Times reported on Wednesday that Gamuda Bhd is in talks to sell its stakes in Sprint and Litrak for more than RM4 billion to a government-linked special purpose vehicle. Speculation is rife that UEM Group could be the potential buyer.
"Our investment style is we are not shy. If we have to do deals, we will do deals," Azman said yesterday at a media briefing on its financial and strategic performance for 2012 and outlook this year.
He said the primary drivers to the strong portfolio performance last year were strong delivery of projects in Iskandar Malaysia, and the initial public offerings of IHH Healthcare Bhd and Astro Malaysia Holdings Bhd.
Meanwhile, Azman said the UEM investment in Turkey is expected to be a significant "needle mover" towards its bottom line.
Last December, a consortium comprising UEM Group, Koc Holding and Gozde Girisim Sermayesi Yatirim Ortaklig won the bid to privatise bridges and highways across Turkey for US$5.7 billion (RM17 billion).
"We are quite excited about this venture. It is a brownfield project, it is profitable and it is working. We also expect more growth in Iskandar Malaysia, having reached the tipping point last year," he said.
In 2010, UEM Land Holdings Bhd, in which Khazanah holds 65 per cent stake, took over Sunrise Bhd for RM1.4 billion, creating Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 4,800-hectare landbank.
Managing director Tan Sri Azman Mokhtar added that Khazanah, through its subsidiaries in diversified sectors, will also continue to invest in privatisation projects and concessions which are viable.
He said Khazanah, the government investment arm, is eyeing several investment deals, but added that it was premature to comment on the matter.
Business Times reported on Wednesday that Gamuda Bhd is in talks to sell its stakes in Sprint and Litrak for more than RM4 billion to a government-linked special purpose vehicle. Speculation is rife that UEM Group could be the potential buyer.
"Our investment style is we are not shy. If we have to do deals, we will do deals," Azman said yesterday at a media briefing on its financial and strategic performance for 2012 and outlook this year.
He said the primary drivers to the strong portfolio performance last year were strong delivery of projects in Iskandar Malaysia, and the initial public offerings of IHH Healthcare Bhd and Astro Malaysia Holdings Bhd.
Meanwhile, Azman said the UEM investment in Turkey is expected to be a significant "needle mover" towards its bottom line.
Last December, a consortium comprising UEM Group, Koc Holding and Gozde Girisim Sermayesi Yatirim Ortaklig won the bid to privatise bridges and highways across Turkey for US$5.7 billion (RM17 billion).
"We are quite excited about this venture. It is a brownfield project, it is profitable and it is working. We also expect more growth in Iskandar Malaysia, having reached the tipping point last year," he said.
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