Khazanah Nasional Bhd does not intend to increase the number of investors under wholly owned company i2M Ventures Sdn Bhd as its functions will cease after agreements with its 12 active investors conclude.
In her winding-up speech on the motion on the Auditor General's Report (LKAN) in the Dewan Rakyat on Wednesday (July 10), Deputy Finance Minister Lim Hui Ying said there are still eight investors under the financial support agreements and four under the facilitation agreements.
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In her winding-up speech on the motion on the Auditor General's Report (LKAN) in the Dewan Rakyat on Wednesday (July 10), Deputy Finance Minister Lim Hui Ying said there are still eight investors under the financial support agreements and four under the facilitation agreements.
Read more at https://tinyurl.com/3zmvhbww
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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NewsTranscript
00:00The treasurer is not hesitant to increase the amount of new investors under I2A and the function of I2A will continue until the agreement ends with 12 active investors.
00:16Currently, there are still 8 active investors under the financial support agreement and 4 active investors under the facilitation agreement.
00:25The last investor that will end the agreement is in 2027.
00:30I2A does not generate any operating income and performs its function through direct financial allocation by the National Treasury.
00:41In 2020, the decision has been concluded to integrate I2A Ventures with Iskandar Investment Berhad IIB
00:52and to change I2A Ventures from an active company with the permission of an active operating company to a non-active non-operating company.
01:01I2A Ventures has signed a service level agreement with IIB to carry out and take over the function of I2A Ventures management to continue to advance the ecosystem in Iskandar Kutri.
01:18I2A Ventures through IIB will continue to monitor the achievement of KPI and transfer funds to still active investors.
01:26IIB as an Indo developer or master developer to Iskandar Kutri will continue to make efforts to advance the Iskandar Kutri ecosystem.
01:36This is in line with the efforts of IIB to promote Iskandar Kutri which ensures that the established KPI program can be achieved.
01:44In line with the short audit, IIB will re-examine the function of I2A Ventures after resolving all commitments and agreements with investors in 2020-2025.