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Kumpulan Perangsang, CNI, Gromutual, Hua Yang, Integrated Logistics, Ivory Properties, JAG, Matrix Concepts, MCT, MHB

Kumpulan Perangsang, CNI, Gromutual, Hua Yang, Integrated Logistics, Ivory Properties, JAG, Matrix Concepts, MCT, MHB
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Kuala lumpurHua yang bhdKumpulan perangsang selangor bhdGromutual bhdEngineering holdings bhdMatrix concepts holdings bhdIvory properties group bhdHoldings bhdBursa malaysiaPerangsang selangor bhdYang bhdLogistics bhdProperties group bhdConcepts holdings bhdHeavy engineering holdings bhdகுவாலா லம்பூர்

Hotel transactions to pick up, significant deals seen

THE past one year saw a remarkably high number of hotel owners making the tough decision to shut down their business for good. While hotels including G City Club Hotel Kuala Lumpur and Holiday Inn Resort Penang in Penang were shuttered permanently, several others were closed temporarily, until people are allowed to travel again. Just last week, Hotel Equatorial Penang, citing huge losses, announced that it planned to cease operations before March 31. “Since last year, we have tracked about 90 hotels that had closed either temporarily or permanently,” says The Malaysian Association of Hotels CEO Yap Lip Seng. MAH’s data is from announcements or based on third-party reports.

Bukit bintangKuala lumpurPulau pinangJames buckleyUrusharta jamaah sdn bhdSarkunan subramaniamKnight frankM sdn bhdMovement control orderBth hotelCity developments ltdTower regency hotelZerin propertiesRajawali groupBoustead holdings bhdTh hotels residences

JKGLand, CNAsia, Dynacia, Ecobuilt, Ivory, LBICap, Mudajya, Parkson, SBCCorp, Sealink, SYSCorp, Theta, Toyoven, U-LiCorp

The stock with positive momentum was: JKG Land Bhd – up one sen at 11 sen The stocks with negative momentum were: CN Asia Corp Bhd – up 34 sen at RM2.02 Dynaciate Group Bhd – unchanged at 13 sen Ecobuilt Holdings Bhd – up one sen at 21.5 sen Ivory Properties Group Bhd – up one sen at 19.5 sen LBI Capital Bhd – up four sen at 70.5 sen Mudajaya Group Bhd – up two sen at 32 sen Parkson Holdings Bhd – up 1.5 sen at 21 sen SBC Corp Bhd – up five sen to 45 sen Sealink International Bhd – up 6.5 sen at 23.5 sen Shin Yang Shipping Corp Bhd – up 3.5 sen at 37 sen Theta Edge Bhd – up 21 sen to 85.5 sen

Kuala lumpurIvory properties group bhdCn asia corp bhdUnitedu li corp bhdCorp bhdSealink international bhdMudajaya group bhdDynaciate group bhdShin yang shipping corp bhdToyo ventures holdings bhdEcobuilt holdings bhdParkson holdings bhdBursa malaysiaGroup bhdHoldings bhdProperties group bhd

Ivory Properties to purchase Penang s Copthorne Orchid Hotel for RM75mil

has entered into a sale and purchase agreement for the acquisition of Copthorne Orchid Hotel & Resort Penang for RM75mil cash. In a filing with Bursa Malaysia, the group said it had purchased the property on behalf of its subsidiary Ivory Utilities Sdn Bhd (IUSB), for the development of a hotel and serviced apartment with an estimated gross development value of about RM410mil. IUSB will be submitting the proposed development plans to the relevant authorities for approval. Therefore, it is too preliminary at this stage to ascertain the total development cost and expected profits to be derived from the proposed development, it said.

Kuala lumpurSdn bhdIvory propertiesCopthorne orchid hotel resort penangIvory properties group bhdCopthorne orchid hotelIvory properties groupResort penangBursa malaysiaIvory utilities sdn bhdகுவாலா லம்பூர்ஸ்டன் ப்ட்தந்தம் ப்ராபர்டீஸ்தந்தம் ப்ராபர்டீஸ் குழு ப்ட்தந்தம் ப்ராபர்டீஸ் குழுஉல்லாசப்போக்கிடம் பினாங்கு

Ivory Properties buys hotel in Penang for RM75m cash

The hotel sits on a parcel of freehold land measuring at 2.5 acres, and has ceased operations. Ivory Properties said it is buying the property on behalf of its wholly-owned subsidiary company, Ivory Utilities Sdn Bhd. Both Ivory Properties and Copthorne Orchid Penang Sdn Bhd have inked the sale and purchase agreement for the acquisition today, the group’s bourse filing showed. Copthorne Orchid Penang is an indirect wholly-owned subsidiary of Singapore Exchange’s Main Board listed company, City Development Ltd. Ivory Properties said it plans to develop a hotel and serviced apartments on the land with a gross development value of RM410 million. The development is expected to commence in 2022 and be developed over a span of three to four years.

Kuala lumpurSdn bhdIvory propertiesCopthorne orchid hotel resort in penangIvory properties group bhdCity development ltdSingapore exchange main boardCopthorne orchid hotelIvory utilities sdnBoth ivory propertiesCopthorne orchid penang sdn bhdOrchid penangSingapore exchangeMain boardCity developmentகுவாலா லம்பூர்