Share
KUALA LUMPUR (Oct 11): Iskandar Waterfront Holdings (IWH) Sdn Bhd is mulling reviving an initial public offering as early as next year as it ramps up projects including one linked to state fund 1Malaysia Development Bhd (1MDB), Bloomberg reported today.
The developer could pursue a dual listing in Malaysia and Hong Kong or Singapore as it seeks to monetise some of its assets valued at more than RM30 billion, Lim Kang Hoo (pictured), executive vice-chairman of Iskandar Waterfront, told Bloomberg on Oct 7 in his Kuala Lumpur office.
He declined to specify how much the sale would raise and does not rule out the possibility of bringing in a strategic partner as part of the offering, Bloomberg added.
On June 16, an agreement made IWH CREC Sdn Bhd a 60% shareholder in the Bandar Malaysia development as well as its master developer.
1MDB’s sale of the 60% stake in Bandar Malaysia is among Malaysia's largest property deals.
In an interview with The Edge, Lim says the incentives for this project should be viewed in the context of the big picture concerning investments in the region.
“There is so much competition around us … our neighbouring countries and the region at large are offering all kinds of incentives to attract investors,” he says, adding that the “reward” for the nation will be job creation.
TOP PICKS BY EDGEPROP
Evergreen Park Acorn and Hazel
Kajang, Selangor
Kondominium Tiara Intan, Taman Bukit Indah
Ampang, Selangor
Kawasan Perindustrian Nilai
Nilai, Negeri Sembilan
