At Iskandar Waterfront Holdings (IWH) is a Public-Private Partnership (PPP) involving Credence Resources Sdn Bhd (Private Equity) and Kumpulan Prasarana Rakyat Johor Sdn Bhd (KPRJ) (State equity). The Federal Government through it's strategic investment fund, Minister of Finance Inc (MOF Inc) is also a strategic partner of IWH through IWH's subsidiary - Iskandar Waterfront Sdn Bhd - in which KNB is a minority indirect shareholder.