Khazanah seeks high-margin deals

ISTANBUL: Khazanah Nasional Bhd, the government investment arm, is looking at good investment assets and projects with high margins, says its managing director Tan Sri Azman Mokhtar.

“Turkey is a pivotal country for us. We have been looking at ways to deepen our economic and trade ties. Our partnership with Acibadem Group will give us a greater platform to move forward,” Azman said.

Khazanah’s current interest in Turkey is via its subsidiary, Malaysia Airports Holdings Bhd, an airport operator, which, in a consortium, holds a 22-year concession for the Istanbul Sabiha Gökçen International Airport.

Another Khazanah subsidiary, UEM Group Bhd, on October 19 2011 signed a memorandum of understanding on a possible joint bid with Koc Holding AS, which is Turkey’s largest conglomerate, and Gozde Girisim Sermayesi Yatirim Ortakligi AS, an Istanbul-based private equity firm, to undertake projects in Turkey.

Azman said UEM Group is planning to bid for highway construction jobs, among others.

According to the Investment Support and Promotion Agency of Turkey, the most promising sectors to investors in Turkey currently are automotive, energy, healthcare, real estate, transportation and finance.

The Turkish government is planning to invest up to US$130 billion (RM395.2 billion) in its energy sector by 2033, and US$10 billion (RM30.4 billion) in the healthcare sector for the next five years.

On Tuesday, Khazanah, via its healthcare unit Integrated Healthcare Holdings Sdn Bhd (IHH), concluded a deal to buy a 75 per cent stake in Acibadem Saglik Yatirimlari Holding A.S.

(ASYH) for RM3.7 billion by cash and newly-issued IHH shares.
ASYH owns 92 per cent of Acibadem Saglik Hizmetleri ve Ticaret A.S, a leading private healthcare service provider in Turkey with 14 hospitals and nine outpatient centres in its portfolio.

“The relationship with Acibadem will open new avenues for us.

Our model of doing business has been very much on the collaboration basis,” Azman said at a press conference here on Tuesday.