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Johor Corp Picks Banks for IPO of $1 Billion Palm Oil Unit Kulim, Sources Say

  • RHB, CIMB and CLSA are among advisers helping on Kulim IPO
  • Malaysia listing could take place as soon as next year

Johor Corp., a Malaysian state-owned investment firm, has picked banks for an initial public offering of its plantation unit, according to people with knowledge of the matter.

The investment arm of the Johor state government is working with advisers including RHB Bank Bhd., Affin Bank Bhd. and AMMB Holdings Bhd. on a domestic listing of Kulim Malaysia Bhd., the people said, asking not to be identified as the process is private.