PKNS buys 30pc stake in SamaWorld (Malaysia)

THE Selangor State Development Corporation (PKNS) is acquiring a 30 per cent stake in SamaWorld (Malaysia) Sdn Bhd which undertakes the $1 billion SamaWorld Theme Park and Destination Resort development project. PKNS yesterday signed a shareholders' agreement with SamaWorld Asia Sdn Bhd to acquire the stake in SamaWorld (Malaysia). The remaining 70 per cent wwill be held by SamaWorld Asia. SamaWorld (Malaysia) has a paid-up capital of $85.7 million comprising 85.7 million shares of $1 each. SamaWorld Asia holds 60 million shares with PKNS holding the remaining 25.7 million shares. The project, located on a 60ha hill slope of Genting Highlands, will comprise an international standard Disney-…