KUALA LUMPUR: Khazanah Nasional Bhd’s wholly owned special purpose vehicle, Granatum Ventures Sdn Bhd, has entered into a definitive share sale agreement to divest its 100% stake in Iskandar Malaysia Studios Sdn Bhd (IMS).
It has sold the stake to Studio Management Services Sdn Bhd (SMS) to attract foreign investment as well as bring economic and social benefits to Malaysia.
In a statement today, it said SMS is a consortium led by its current Malaysian management team in partnership with Singapore’s GHY Culture & Media Holding Co Ltd and its subsidiary, GHY Culture & Media (Malaysia) Sdn Bhd.
Khazanah also said that SMS is expected to further enhance the services provided by Iskandar Malaysia Studios to the industry, as well as facilitate future partnerships and production opportunities for Malaysia.
“The collaboration of Malaysian entrepreneurs and capable regional partners would catalyse further growth and development of the ecosystem in Iskandar Malaysia Studios,” it said.
Khazanah said the partnership would contribute to higher utilisation of the studio by regional and global players.
It said this will provide better capacity to attract large productions.
Source : FMT