Khazanah sells discontinued KidZania Singapore for RM380,000

PETALING JAYA: Khazanah Nasional Bhd has sold the discontinued KidZania Singapore to Sim Leisure Group Ltd for S$110,000 (RM380,000).

Sim Leisure, a theme park developer and operator is listed on the Singapore Exchange's Catalist board.

In a filing with the Singapore Exchange on June 12, Sim Leisure said it had also secured an agreement with Sentosa Development Corp to lease the premises in which the discontinued KidZania Singapore is situated.

“In connection with the KidZania assets purchase, the company has approached KidZania de Mexico S.A. de C.V. and has on Aug 22, 2022, been granted the relevant permissions and written consent to use the KidZania intellectual property as well as any other proprietary elements in the KidZania Singapore Facility.

“The company has also secured the exclusive license to operate the KidZania Concept for the territory of Singapore,” it added.

Rakan Riang Pte Ltd was the former exclusive licensee of the KidZania Concept for the territory of Singapore which was first opened to the public in 2016. The KidZania Singapore Facility was subsequently closed in 2020.

According to reports, Rakan Riang is 80% owned by Khazanah’s leisure and tourism arm Themed Attractions Resorts & Hotels Sdn Bhd (TARH) while the remaining 20% is held by Boustead Holdings Bhd's unit Boustead Curve Sdn Bhd.

It was reported that Khazanah and Boustead initially injected S$48mil (RM165.52mil) into the project.

Sim Leisure said the KidZania assets purchase coincides with the growth plan of the group to capitalise on its established track record of marketing, operating and managing theme parks and to expand into new geographical locations.

Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim said he would discuss with Khazanah the sale of a children's theme park in Singapore that the sovereign wealth fund owned.

"I will hold a meeting with them on the matter," Anwar said.

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