Singaporean investment firm Temasek Holdings and Malaysian sovereign wealth fund Khazanah Nasional have partnered to develop $9.8 billion of projects in Malaysia and Singapore, Bloomberg reports. The state-owned investment firm of Singapore and Malaysia will form two new joint-venture companies M+S and Pulau Indah Ventures for the projects.
M+S, which will be 60% owned by Khazanah and the rest by Temasek, will develop four land parcels in Marina South and two in Ophir Rochor, adds Reuters. Pulau Indah Ventures will be a 50:50 venture between the firms and develop $986 million worth of property projects in Malaysia’s Iskandar region.
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