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Templeton takes five per cent stake in Malaysian property developer

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The emerging markets group of Templeton Asset Management has taken a placement of new shares in KSL Holdings Berhad, a Malaysian property development and investment company.

Templeton now has a five per cent stake in KSL.
 
Mark Mobius (pictured), executive chairman of Templeton Asset Management, says: “KSL is a leading Malaysian property developer with a strong track record and an experienced management team. We are impressed with KSL’s diversified property projects and business model, and our investment will provide support for the company’s continued growth and presence in the fast-growing Malaysian market.”
 
Ku Tien Sek, executive director of KSL, adds: “We strive continually to make KSL a leading property company in Malaysia and a trusted brand name with our customers. Since our beginnings in Johor, we have now embarked on a new growth phase with our exciting new development in the Klang Valley, which will be launched soon. We welcome Templeton’s confidence in us and participation as an investor.”
 
KSL operates in four business segments: property development, property management, property investment and investment holding. It has a land bank of approximately 1,700 acres mainly situated in the Malaysian state of Johor, of which a substantial portion is located in Iskandar Malaysia, formerly known as Iskandar Development Region.

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