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Acoustech & JMSB unit to develop 16-storey hotel with RM 60m GDV in Melaka

KUALA LUMPUR (Aug 6): Acoustech Bhd and Jaya Mapan Sdn Bhd’s (JMSB) wholly-owned unit, Te Hotel Sdn Bhd (TEH), has entered into a development agreement for the development of a 16-storey star-rated hotel with an estimated gross development value (GDV) of RM60 million in Melaka.

In a filing to Bursa Malaysia, it said the leasehold land, had an estimated gross development cost of RM46 million.

“JMSB as landowner shall be entitled to 10 per cent based on the agreed estimated GDV,” Acoustech added.

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