MIMSB gets Mitsui as strategic partner

KUALA LUMPUR: Medini Iskandar Malaysia Sdn Bhd (MIMSB), a company majority-owned by Iskandar Investment Bhd (IIB), announced that Mitsui and Co Ltd, a major Japanese trading and investment firm, has become its strategic partner and shareholder.

On May 20, 2013, Mitsui acquired an aggregate of 19.99% stake in MIMSB from IIB and United World Infrastructure (UWI), a privately held company in the United States.

IIB is owned by Khazanah Nasional Bhd, Kumpulan Prasarana Rakyat Johor and the Employees Provident Fund. The transaction reflects further the international investor confidence in Medini Iskandar Malaysia and underlines their continued interest in the larger development of Iskandar Malaysia.       

“Mitsui’s considerable investment in Medini comes at a pivotal point as the vision becomes a reality,” said MIMSB managing director and chief executive officer Khairil Anwar Ahmad in a statement.       

“We are now entering an exciting stage of development that will see Medini transform the landscape of Iskandar Malaysia,” he added.

MIMSB and its shareholders have been the driving force in the conceptualisation, master planning, infrastructure development and investment into Medini, which is designed to be the Central Business District of Nusajaya. – Bernama