Asset injection

TAN Sri Lim Kang Hoo, director and executive vice-chairman of Iskandar Waterfront Holdings Sdn Bhd (IWH), will inject 183ha of privately-owned land valued at RM2.6 billion.

IWH offers to buy 769ha and 502ha of prime land from Kumpulan Prasarana Rakyat Johor Sdn Bhd and state-related entities, respectively, for RM1.5 billion.

Overall, the proposed asset injection will result in IWH owning landbank of more than 2,990ha in Johor Baru, with an estimated open market value of RM30 billion.