HomeBusinessKhazanah Sells Discontinued KidZania Singapore

Khazanah Sells Discontinued KidZania Singapore

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Khazanah Nasional Bhd has sold KidZania Singapore to Sim Leisure Group Ltd for SGD110,000 (RM380,000).

Sim Leisure is a theme park developer and operator that is listed on the Catalist board of the Singapore Exchange.

Sim Leisure said in a filing with the Singapore Exchange on June 12 that it has also signed an agreement with Sentosa Development Corp to lease the premises where the defunct KidZania Singapore is located.

“In connection with the KidZania asset purchase, the company approached KidZania de Mexico S.A. de C.V. and was 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 on August 22, 2022.”

“The company has also secured the exclusive licence 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 first opened to the public in 2016. The KidZania Singapore facility was eventually closed in 2020.

According to reports, Khazanah’s leisure and tourist arm Themed Attractions Resorts & Hotels Sdn Bhd (TARH) owns 80% of Rakan Riang, while Boustead Holdings Bhd’s business Boustead Curve Sdn Bhd owns the remaining 20%.

It was reported that Khazanah and Boustead initially invested SGD48 million (RM165.52 million) in the project.

Sim Leisure stated that the KidZania assets purchase is in line with the group’s expansion strategy of capitalising on its established track record of marketing, operating, and managing theme parks and expanding into new geographical locations.

Meanwhile, Prime Minister Datuk Seri Anwar Ibrahim said he will negotiate with Khazanah the sale of a children’s theme park in Singapore held by the sovereign wealth fund.

“I will meet with them regarding it,” Anwar remarked.

Info source – The Star

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