24-02-2019, 01:41 PM
The Proposed Acquisition of Royale Chulan Bukit Bintang Hotel and Its Business in Kuala Lumpur
Hotel Royal Limited announced that the Company had on 15 February 2019 made an offer to Boustead Hotels & Resorts Sdn Bhd to acquire Royale Chulan Bukit Bintang Hotel and its business in Kuala Lumpur, Malaysia for a total purchase consideration of RM197,000,000. The Vendor had accepted the Offer on 19 February 2019 and the notification of the acceptance was made to the Company on the same day.
The Hotel is a 4-star property with 400 suites and rooms that sits on freehold land of about 3,189 square metres. Its facilities, comprising of a swimming pool, fitness centre, restaurant, bar, business centre, executive lounge, ballrooms and meeting rooms, are located in a 20-storey tower and a 13-storey twin tower. It is situated along Jalan Bukit Bintang, Kuala Lumpur, Malaysia, the established entertainment and shopping district within Kuala Lumpur’s Golden Triangle or the Orchard Road of Kuala Lumpur.
More details in http://infopub.sgx.com/FileOpen/Announce...eID=544663
Hotel Royal Limited announced that the Company had on 15 February 2019 made an offer to Boustead Hotels & Resorts Sdn Bhd to acquire Royale Chulan Bukit Bintang Hotel and its business in Kuala Lumpur, Malaysia for a total purchase consideration of RM197,000,000. The Vendor had accepted the Offer on 19 February 2019 and the notification of the acceptance was made to the Company on the same day.
The Hotel is a 4-star property with 400 suites and rooms that sits on freehold land of about 3,189 square metres. Its facilities, comprising of a swimming pool, fitness centre, restaurant, bar, business centre, executive lounge, ballrooms and meeting rooms, are located in a 20-storey tower and a 13-storey twin tower. It is situated along Jalan Bukit Bintang, Kuala Lumpur, Malaysia, the established entertainment and shopping district within Kuala Lumpur’s Golden Triangle or the Orchard Road of Kuala Lumpur.
More details in http://infopub.sgx.com/FileOpen/Announce...eID=544663
Specuvestor: Asset - Business - Structure.