What led to the RM160 million alleged loss in Kidzania Singapore sale?

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Alleged RM160 Million Loss in Kidzania Singapore Sale Under Discussion

Prime Minister Datuk Seri Anwar Ibrahim has stated his intention to discuss the sale of Kidzania Singapore with Khazanah Nasional Bhd, following allegations of a nearly RM160 million loss. The discrepancy arises from a reported significant difference between the initial investment in the theme park and its subsequent sale price.
Initial Investment and Sale Price Discrepancy

Khazanah Nasional Bhd, along with Boustead Holdings Bhd, reportedly invested approximately S$48 million, equivalent to RM165.52 million, into Kidzania Singapore in 2016. However, the theme park was subsequently sold to the Singapore-based Sim Leisure Group Ltd (SLG) for a reported S$110,000, which translates to RM379,398. This reported sale price is substantially lower than the initial capital outlay, forming the basis of the alleged financial loss.
Sale Details and Current Operator

The indoor children's theme park, which had permanently closed three years prior to its reported comeback, is now operated by SLG. This same group also manages Kidzania Kuala Lumpur, which reopened in 2021. The specific details surrounding the transaction between Khazanah, Boustead, and SLG, including the valuation and negotiation process, have not been fully elaborated upon in the available information.
Khazanah Nasional Bhd's Financial Performance

The discussion surrounding the Kidzania Singapore sale occurs in the context of Khazanah Nasional Bhd's overall financial performance. In March, the sovereign wealth fund announced a profit of RM1.6 billion from its operations in the preceding year. This figure represented a notable increase from the RM670 million recorded in 2021, despite prevailing global economic challenges such as inflation, monetary tightening, and the impact of the Russia-Ukraine conflict on energy markets.

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What led to the RM160 million alleged loss in Kidzania Singapore sale?

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