KUALA
LUMPUR: Khazanah Nasional Bhd, via its
special-purpose vehicle Broga Hill Investments Ltd, has acquired an 8.85% stake
in John Keells Holdings Plc (JKH), Sri Lanka's largest listed conglomerate, in
a deal worth RM366mil.
The JKH
group had business interests in several key sectors of Sri Lanka's economy,
including tourism, transportation, leisure and tourism, property, retail and
financial services, Khazanah said in a statement.
Khazanah
managing director Tan Sri Azman Mokhtar said: “The entry into JKH offers
Khazanah and its group of companies opportunities to participate across a wide
range of businesses where the JKH group is involved in.
“At the
same time, it allows Khazanah to participate in Sri Lanka's positive growth
story and is in line with our strategy of investing in the region.”
Sri
Lanka is already a positive experience for Khazanah's investee companies.
Axiata
Group Bhd subsidiary Dialog Group Bhd is the largest mobile telephony player in
Sri Lanka while the CIMB Group has established an investment banking joint
venture in the country.
Sri
Lanka is currently experiencing a strong economic revival post-conflict as
evidenced by the recent annual economic growth of about 8%.
Bernama
Business & Investment Opportunities
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