In a joint statement today, it stated that three of the largest asset managers in the country have come together to co-invest in a deal worth a total of RM2 billion.
Permodalan Nasional Berhad (PNB), the Employees Provident Fund Board (EPF), and Kumpulan Wang Persaraan (Diperbadankan) [KWAP] (collectively known as co-investors) have signed a sale and leaseback transaction agreement valued at RM2 billion with OSRAM Opto Semiconductors Sdn Bhd, a wholly-owned domestic subsidiary of Austria-based, ams OSRAM AG, a leader in intelligent sensors and emitters.
What's the deal?
The sale and leaseback transaction is expected to conclude in December 2023. Co-investors will each own 33.3% equally. 👌👌👌
The transaction offers a unique opportunity for PNB, EPF, and KWAP to invest in a high-quality and high-specification industrial real asset in Malaysia which provides competitive returns. The investment is for a 10-year period with a clear exit strategy.
FDI echoed by Madani Economy
In addition, the investment catalyses Foreign Direct Investment (FDI) by enabling our partner to deploy more capital in Malaysia. 😃 This aligns with one of the goals of the Madani Economy Framework, which aims to establish Malaysia as a leading Asian economy and enhances our global competitiveness, resulting in high-impact growth investments for the country.
Furthermore, it is in line with Malaysia’s New Industrial Master Plan 2030 (NIMP30), in its objective of advancing economic complexity. 💫💫💫 The injection of capital to the Electrical and Electronics (E&E) sector enables ams OSRAM, a global leader, to establish the world’s first fully automated 8-inch LED and micro LED manufacturing facility.
| Picture source: ams OSRAM website |
The facility will foster the development of an ecosystem to support high-value-added activities such as semiconductor fabrication. It underscores Malaysia’s vision of becoming a prominent high-tech manufacturing hub that would rejuvenate the ‘Made in Malaysia’ brand. 💝
The products manufactured in ams OSRAM’s Kulim II will contribute to the country’s goal of expanding high-tech manufacturing exports and establishing a global presence, which solidifies additional employment opportunities in the country in the field of science and high-tech semiconductors.
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