KUALA LUMPUR (Oct 10): Boustead Holdings Bhd has proposed a joint venture with Themed Attractions and Resorts Sdn Bhd (TAR), an indirect wholly-owned subsidiary of Khazanah Nasional Bhd, for the purpose of operating one or more educational and entertainment facilities in Singapore.

In a statement with Bursa Malaysia today, Boustead said its wholly-owned subsidiary Boustead Curve Sdn Bhd had on Oct 10 entered into an agreement with TAR, to form a joint venture company known as Rakan Riang Pte Ltd, which would be 80% owned by TAR and 20% owned by Boustead Curve.

Rakan Riang owns the license for “KidZania” in Malaysia and Singapore, and operates the indoor KidZania Kuala Lumpur Theme Park in Mutiara Damansara.

The joint venture agreement (JVA) is an extension of the earlier one signed in June 2009, for the set up and operations of a similar Indoor Childrens’ Theme Park in Singapore, under the “KidZania”license. The latest JVA is expected to be completed in November 2014.

Boustead said, “BHB is optimistic on the prospects of the joint venture, in view of Singapore’s well-developed transport infrastructure; and its city island size means that KidZania is easily accessible to all Singaporean families.”