KHAZANAH Nasional Bhd has not received any offers to sell Legoland Malaysia, said managing director Shahril Ridza Ridzuan, adding that the theme park remained “profitable”.

“We are not currently in talks with anyone. There are no offers on the table,”  he told a media briefing after the sovereign wealth fund reported its earnings today.

“But we need to be clear what prices we are willing to consider for offers on the asset,” he added.

Bloomberg reported today that Khazanah is considering selling off its stake in Legoland Malaysia Resort as part of its review of non-core assets.

The theme park could be valued at about RM1 billion including debt, Bloomberg cited sources as saying.

Legoland Malaysia, located in Johor, is owned by a Khazanah unit and operated by Merlin Entertainments Plc.

It is the first Lego-themed park in Asia, covering an area equivalent to more than 50 football fields containing more than 15,000 Lego models made from more than 60 million bricks.

Last month, Reuters reported that Khazanah would embark on a plan to cut back its stakes in non-strategic assets and offshore investments to raise money for government coffers.

The new strategy looks to cut the fund’s stakes in some companies identified as non-strategic to 15%-25%. – March 5, 2019.