SINGAPORE (Aug 23): Khazanah Nasional, Malaysia's sovereign wealth fund, is in talks to divest its 60% stake in M+S to its joint venture (JV) partner, Temasek Holdings, according to reports from The Malaysian Reserve.

The JV company, which is 40% owned by Temasek, was set up by the duo in 2011 to develop two mega-projects in Singapore – Marina One and DUO – worth about $11 billion in total.

In addition, the report cited sources saying that talks could also see Khazanah sell its 50% stake in another joint venture firm with Temasek, Pulau Indah Ventures, which is involved in projects in Iskandar Malaysia in Johor.

Read more on The Edge Singapore.