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4 June 2012

KHAZANAH TO DIVEST EQUITY INTEREST IN STLR TO A QUALIFIED BUMIPUTERA ENTREPRENEUR

KHAZANAH TO DIVEST EQUITY INTEREST IN STLR TO A QUALIFIED BUMIPUTERA ENTREPRENEUR

Khazanah Nasional Berhad (“Khazanah”) is pleased to announce the proposed divestment of its entire equity interest in a wholly-owned subsidiary, STLR Sdn Bhd (“STLR”), via an open tender process to a qualified Bumiputera entrepreneur.

The proposed divestment of STLR, a property investment holding company, is part of Khazanah’s efforts to assist the government in encouraging entrepreneurship and growing Bumiputera equity.

It is also in line with Khazanah’s overall divestment strategy of disposing non-core assets in a gradual and orderly manner to fulfil the role of Government-linked Investment Companies (“GLICs”) and Government-linked Companies (“GLCs”) under the New Economic Model (NEM). Between 2004 and 2011, Khazanah had divested a total of 45 assets and companies valued at RM31.7 billion with some of the assets taken up by capable and dynamic entrepreneurs, notable among them are Pos Malaysia, Time dotCom and Royal Mint Exchange.

Prime Minister, YAB Dato’ Sri Mohd Najib Tun Razak, at the Bumiputera Agenda Action Council (“MTAB”) on 9 February 2012, announced that Khazanah and Permodalan Nasional Bhd (“PNB”) will divest a total of 10 non-core assets to Bumiputera companies. This exercise is part of the plan by Unit Peneraju Agenda Bumiputera (“TERAJU”), a unit under the Prime Minister’s Department, to spearhead the economic transformation of the Bumiputera community in the country.

STLR is one of five non-core assets identified by Khazanah to be divested under this exercise, this year. The company was chosen for this divestment exercise as it could offer an opportunity for the acquiring party to tap into the prospects of a mature township in Kuala Lumpur and the exponential growth of a fast-growing township in Medini, Iskandar Malaysia.

STLR currently owns a prime 2.9 acres of residential-zoned land in Bukit Tunku, Kuala Lumpur and has entered into an agreement with Iskandar Investment Bhd (“IIB”) to acquire an interest in a strategic 1.3 million square feet Gross Floor Area (“GFA”) plot of developmental asset suitable for mixed development projects in Medini, Iskandar Malaysia.

The divestment exercise will also allow STLR to enjoy financial and strategic benefits through the ownership and management of a qualified Bumiputera company with expertise in the relevant field.

The divestment of STLR will involve a three-stage bidding process, which are; pre-qualification stage, indicative bid stage, and binding bid stage. The divestment of STLR will be conducted in a transparent and merit-based manner, and will be presided by an independent evaluation panel.

It is intended that the potential buyer should fulfil several pre-qualifying criteria which include being a 51% Bumiputera-owned and managed company with a good financial track record and experience in the relevant sector.

Other selection criteria considered for the potential buyer include possessing a viable business plan, strong entrepreneurship and business acumen, and offer the best bid for value creation.

The new shareholder of STLR will be selected based on both financial and strategic considerations. The list of the financial and strategic evaluation criteria will be outlined in the invitation to bid in due course.

All eligible and interested parties can refer to the notice on the offer for sale by Khazanah, which will be advertised in all major newspapers, this week.

END

For further information on Khazanah, please contact Mohd Asuki Abas at +603 2034 0000 or via e-mail at [email protected]

About Khazanah Nasional Berhad

Khazanah is the strategic investment fund of the Government of Malaysia entrusted to hold and manage the commercial assets of the Government and to undertake strategic investments. Khazanah is involved in various sectors such as power, telecommunications, banking, airport management, infrastructure, healthcare, leisure & tourism, property development, broadcasting, semiconductor, electronics, investment holding, and technology. Some of the key listed companies in Khazanah’s investment portfolio include Telekom Malaysia Bhd., Tenaga Nasional Bhd., CIMB Group, Malaysia Airports Holdings Bhd., UEM Land Holdings Bhd. and Axiata Group Bhd. For further information on Khazanah, please visit www.khazanah.com.my



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