Uh-oh, it looks like Khazanah may not own Legoland anymore!
Bloomberg just reported that our sovereign wealth fund, Khazanah Nasional Berhad is considering to sell off Legoland Malaysia Resort. According to Bloomberg’s anonymous sources, the theme park could be valued at around RM1 billion including debt.
Apparently, Khazanah is thinking about this divestment – which is the process of selling an asset for financial, social or political goals – as “part of its review of non-core assets”.
Fun fact: Non-core assets are assets which are not essential or not of use anymore to the company.
FYI, Legoland is the first Lego theme park in Asia and it is located in Johor. The theme park which is quite popular amongst Malaysia is operated by Merlin Entertainment Plc. It has more than 15,000 Lego models made with over 60 million bricks. Damn, those models must have taken a lot of time to build.
Adding on, the report wrote that according to the Managing Director (MD) Datuk Shahril Ridza Ridzuan, they may sell Legoland if there’s a good offer for it. He made this statement during a press conference in Kuala Lumpur on 5 March 2019 (Tuesday).
Nevertheless, a recent update with Khazanah’s MD revealed that they are currently not “in talks with anyone” as of yet. Perhaps, we should wait a little longer for more information on this matter.
As of now, the final decision has yet to be taken and Khazanah may decide not to sell the property after all.
Prior to this, Datuk Shahril Ridza Ridzuan revealed that Khazanah has experienced loss for the first time since 2005 but it wasn’t mentioned whether this loss is related to the proposal to sell Legoland. He mentioned that Khazanah’s profit has been affected by the uncertainty of the economy in 2018 following the slow market, geopolitical tensions and unfavourable growth prospects for emerging markets.
Do you think Khazanah should consider selling Legoland? Let us know in the comments below!
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