GuocoLand sells Johor Bahru hotel to YTL for RM150m, confirming The Edge report

• The buyer of the five-star Thistle Johor Bahru is YTL Hotels & Properties, a subsidiary of YTL Corporation Bhd (KL:YTL), said GuocoLand in a Singapore Exchange filing on Monday.

SINGAPORE (Sept 1): GuocoLand is selling a Johor Bahru hotel and the land plot it sits on for RM150 million, and will book a net gain of RM35 million or S$11 million upon completion of the deal.

The buyer of the five-star Thistle Johor Bahru is YTL Hotels & Properties, a subsidiary of YTL Corporation Bhd (KL:YTL), said GuocoLand in a Singapore Exchange filing on Monday.

The possibility of this transaction was first reported by The Edge Malaysia weekly in its Aug 18-24 issue...(click here for the full story on theedgesingapore.com).

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.