Khazanah Nasional Bhd’s wholly-owned special purpose vehicle, Granatum Ventures Sdn Bhd, has entered into a definitive share sale agreement to divest its 100 percent stake in Iskandar Malaysia Studios Sdn Bhd (IMS) to Studio Management Services Sdn Bhd (SMS) to attract foreign investment as well as bringing economic and social benefits into Malaysia.

In a statement today, it said SMS is a consortium led by IMS’s current Malaysian management team in partnership with Singapore’s GHY Culture & Media Holding Co Ltd and its subsidiary, GHY Culture & Media (Malaysia) Sdn Bhd.

Khazanah also said that...