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Sources Say Owner Of Legoland Malaysia May Be Selling Off The Theme Park

The theme park is reportedly valued at RM1 billion.

Cover image via Veltra

Sovereign wealth fund Khazanah National Bhd is reportedly considering a sale of Legoland Malaysia Resort

Image via Veltra

According to Bloomberg, "people with knowledge of the matter" who wish to not be identified alleged that the theme park could be valued at around RM1 billion, including debt.

Khazanah is reportedly considering the potential divestment as part of its review of non-core assets.

The sources revealed that Khazanah could still decide to keep the property as no final decisions have been made

Image via Look

According to Berita Harian, Khazanah experienced its first deficit since 2005, with a loss of RM6.271 billion in 2018.

Comparatively, the sovereign wealth fund made a profit of RM2.895 billion in 2017.

"Khazanah's portfolio was affected by the uncertainty of the global economy in 2018 and less favourable growth prospects for emerging markets," said Managing Director Datuk Shahril Ridza Ridzuan at the press conference for Khazanah's 2019 annual review on 5 March.

Legoland Malaysia, located in the southern state of Johor, is owned by a Khazanah unit and operated by Merlin Entertainments Plc

Image via iCosmos

Opened in 2012, Legoland is Malaysia's first international theme park and Asia's first Lego-themed park.

It covers an area equivalent to over 50 soccer fields, with more than 15,000 Lego models made from over 60 million bricks, Bloomberg reported.

Some notable Legoland rides include Lego Ninjago The Ride, Aquazone Wave Racers, Dragon's Apprentice, and The Great Lego Race VR coaster.

Malaysia has had some pretty iconic theme parks that have been abandoned over the years:

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