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Malaysian govt fund to invest Bt56.5 billion

Sep 16. 2015
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By The Star

Asia News Network

The Malaysian government's investment holding arm, Khazanah Nasional, has announced additional domestic investments of 6.77 billion ringgit (Bt56.5 billion) in support of newly unveiled initiatives to strengthen the economy. These investments will includ

1 Desaru Coast Destination Resort, an integrated leisure and tourism resort in Desaru, Johor state, with a development cost of about 4.5 billion ringgit between now and 2022.

2. A new Tourism Venture Fund of 50 million ringgit for qualified entrepreneurs in eco-tourism and cultural/heritage tourism.

3. New hospitals and extension of existing hospitals under IHH Healthcare costing about 670 million ringgit between 2015 and 2017 in Medini Iskandar, Kuala Lumpur, Klang, Melaka and Kota Kinabalu.

4. A new inpatient rehabilitation hospital business with investment totalling about 100 million ringgit over the next two years, together with a foreign technical operator and equity partner to bring in best practices.

5.Development of Dataran Muzium and Tugu Park at an estimated development cost of 1.1 billion ringgit, with Khazanah funding about 730 million ringgit of the cost.

6. In the creative industries, the establishment of Sonneratia Capital, a 50-million-ringgit co-investments fund to finance production of local content for export markets.

7. In Iskandar Malaysia, i2M Sdn Bhd, a 100-per-cent subsidiary of Khazanah, will accelerate an investment of 90 million ringgit to attract a targeted 2.2 billion ringgit of additional foreign investment by 2020 in business process outsourcing sector.

8. An additional 115 million ringgit for the domestic innovation and technology sector across several initiatives including the creation of physical innovation and accelerator space; start-up boot camps; angel matching co-investments in early-stage companies; and seed-stage venture-capital funding.

9. In line with the government’s call to increase the Skim Latihan 1Malaysia programme allocation from 10,000 to 15,000 participants this year (from the overall SL1M programme total of 4,500 participants in 2014), Khazanah is committed to more than doubling its existing commitment from 1,330 to 3,800 participants, at an estimated total cost of 95 million ringgit per annum.

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