Berjaya Land to acquire 70% stake in hotel industry consultation company

KUALA LUMPUR (March 23): Berjaya Land Bhd plans to acquire 70% of Hotel Integrations Sdn Bhd (HISB), which specialises in the provision of consultation and related services in the hotel industry, for RM1.36 million.

Its wholly-owned subsidiary Berjaya Vacation Club Bhd entered into a share purchase agreement with HISB to gain a controlling stake in it, Berjaya Land said in a filing with Bursa Malaysia today.

HISB also does market analysis and feasibility studies, provides technical assistance services, hotel pre-opening/take-over services and hotel operations management services.

It has a team of experts with more than 25 years of industry experience to provide recommendations in areas of conceptualisation, design, plan, refurbishment and coordination of development.

Berjaya Land expects the investment to contribute positively to the future earnings of the group.

It closed one sen or 1.77% higher at 57.5 sen for a market capitalisation of RM2.9 billion. — theedgemarkets.com

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