Hope yet for KL KidZania as Sim Leisure Group proposes RM3.8m offer
Theme park developer will apply to SGX for waiver from requirements relating to very substantial acquisitions
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Singapore
THEME park developer and operator Sim Leisure Group has proposed to acquire the operator of family attraction KidZania in Kuala Lumpur for RM3.8 million (S$1.2 million). Pending approval from the Singapore Exchange (SGX), Sim Leisure hopes to avoid both seeking shareholders' approval for the deal and seeking an independent valuation of the asset.
The company that Sim Leisure is acquiring, Rakan Riang Sdn Bhd (RRSB), recorded a pre-tax loss of RM1.4 million last year. For the first half of this year, its pre-tax loss was RM4 million.
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