News about Yong Tai

"We anticipate a successful transformation that will see Encore Melaka thrive as a premier cultural destination.

"This partnership not only aligns with our vision to be at the forefront of innovative tourism developments but also reinforces our commitment to cultural and economic growth in Melaka.

In a bourse filing, Yong Tai said the appointment of Boo is effective immediately.

“All the hotels and experiential centre will be [located] at the nine towers [while] the lifestyle and entertainment [centre] will be at the 135-acre [parcel] where Encore Melaka [currently] sits, therefore pulling a lot of tourists into Melaka in the future.

According to a series of Bursa Malaysia filings on Wednesday, Yong Tai said Domain Capital had acquired the block of shares off market on Tuesday, but did not disclose the price.

The identity of the buyer of the shares is not immediately known.

Siab is the main contractor of the two projects owned by Yong Tai.

In March 2021, Yong Tai's wholly-owned subsidiary YTB Land Sdn Bhd (YTBL) was appointed as the exclusive mining operator to undertake the exploration and exploitation works on the project after it signed an agreement with the registered holder of the mining lease of the land, Tengku Fahad Mua'adzam Shah ibni Almarhum Sultan Haji Ahmad Shah, and Amazing Logic Sdn Bhd.

The termination came as the parties could not come to agreement on the revised cost plan, and work programme on the completion dates for the two projects — Impressions U-Thant and Dawn condotel.

The tourism-related property developer saw earnings per share of 0.