Iskandar Waterfront may revive IPO as early as next year

Kuala Lumpur

MALAYSIAN developer Iskandar Waterfront Holdings Sdn is considering reviving an initial public offering as early as 2017 as it steps up the construction of projects including one linked to embattled state fund 1Malaysia Development Bhd (1MDB).

The company may pursue a dual listing in Malaysia and Hong Kong or Singapore as it seeks to monetise some of its assets valued at more than RM30 billion (S$9.9 billion), Lim Kang Hoo, executive vice-chairman of Iskandar Waterfront, said on Oct 7 in his Kuala Lumpur office. He declined to specify how much the sale would raise and does not rule out the possibility of roping in a strategic partner as part of the offering.