KUALA LUMPUR, March 15 — Khazanah Nasional Bhd will acquire Innovation Network Corporation of Japan’s (INCJ) stake in Edotco Group, reflecting the strong relationship between Malaysia and Japan.
Khazanah, which announced this in a statement yesterday, however did not disclose the amount.
The sovereign wealth fund said it values its partnership with INCJ since its entry in 2017 and appreciates the collaboration over the years as INCJ reaches the end of its investment mandate.
“This transaction reflects the shared commitment of Malaysia and Japan to fostering strategic partnerships. It also reinforces Khazanah’s commitment to drive the domestic investment agenda in the digital infrastructure space, contributing to Malaysia’s economic growth.
“Khazanah remains committed to Edotco’s growth and success, reaffirming confidence in its strong fundamentals and future potential,” it added.
It was reported that INCJ owned about 21 per cent in Edotco.
According to its website, Edotco Group, which was established in 2012, is the leading digital connectivity infrastructure services company in Asia, providing end-to-end integrated solutions in the tower services sector.
The company has a portfolio of over 55,000 towers across nine countries, namely Malaysia, Bangladesh, the Philippines, Indonesia, Cambodia, Pakistan, Myanmar, Sri Lanka, and Laos.
— Bernama
