Posted by financialanalyst18 > 2015-09-16 20:51 | Report Abuse

Khazanah to invest RM6.77bil in key sectors Tuesday, 15 September 2015 PETALING JAYA: The Government’s strategic investment arm Khazanah Nasional Bhd will be investing RM6.77bil to support the economic measures announced by Prime Minister Datuk Seri Tun Najib Razak. It said in a statement that the investment would be channelled towards key sectors such as leisure and tourism, healthcare and health tourism, export-oriented creative industries, innovation and technology and business process outsourcing (BPO). A significant portion of the investment, or RM4.5bil, will be set aside as development cost for Desaru Coast Destination Resort, an integrated leisure and tourism resort in Johor, between now and 2022. Khazanah said a new Tourism Venture Fund of RM50mil will also be set up for qualified tourism entrepreneurs in the sub-sectors of eco-tourism and cultural/heritage tourism. A total of RM670mil will be allocated for new hospitals and extension of existing hospitals under IHH Healthcare Bhd between 2015 and 2017 in Medini, Iskandar; Kuala Lumpur, Klang, Malacca, and Kota Kinabalu. Khazanah: RM670mil for new hospitals and extension of existing hospitals under IHH Healthcare Bhd Khazanah also said there would be a new in-patient rehabilitation hospital business with investment totaling RM100mil over the next two years, together with a foreign technical operator and equity partner to bring in global best practices. Between 2016 and 2020, an estimated development cost of RM1.1bil will be set aside for Dataran Muzium and Tugu Park, with Khazanah funding approximately RM730mil of the cost. “The projects are a not-for-profit contribution to public spaces and are expected to be completed between 2018 and 2020,” it said. Meanwhile, in the creative industries, Khazanah said Sonneratia Capital would be set up, a RM50mil co-investments fund to finance production of local content for the export markets. “Sonneratia Capital expects to see the release of the films in various regional markets from the end of 2015. “In Iskandar Malaysia, i2M Sdn Bhd, a 100% subsidiary of Khazanah, will accelerate an investment of RM90mil to attract a targeted RM2.2bil of additional foreign investment by 2020 in the BPO sector.” Khazanah also said there would be an additional RM115mil allocated for the domestic innovation and technology sector across several initiatives, including the creation of physical