Exsim Hospitality bags five related-party contracts across multiple property projects
The largest contract, valued at RM100 million, was awarded by Uni Land Sdn Bhd for works on a 456-room hotel at Empire City.
The largest contract, valued at RM100 million, was awarded by Uni Land Sdn Bhd for works on a 456-room hotel at Empire City.
Exsim Hospitality plans to allocate RM86.
Under the contract, Exsim Concepto will serve as the nominated sub-contractor for interior design works covering common areas and unit carpentry for the 42-level serviced apartment, which features 508 residential units, three strata shop units, and various facilities.
The sub-contract, which is expected to be completed in three months, will contribute positively to the net assets, earnings and gearing of the company during the period, the company added.
Exsim Hospitality also said the contract will begin from Oct 18, subject to further confirmation by the main contractor.
The REIT reported a 14.
In a note on Thursday, the research house maintained its "buy" call on the REIT following its acquisition, with a higher fair value (FV) of RM1.
YTL REIT boasts a total of 10 hotel properties in Malaysia, including hotel chains such as JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur and The Ritz Carlton Hotel Kuala Lumpur.
With the three upcoming properties, ONYX will have a total of seven properties in its Malaysian portfolio as it currently manages Amari Johor Bahru, OZO George Town Penang, Amari SPICE Penang and Amari Kuala Lumpur.
There will be two new Shama properties in China (Shama Hub Metro South Hong Kong and Shama Hub Qiantang), two in Malaysia (Shama Medini Malaysia and Shama Suasana Johor Bahru) and one in Thailand (Shama Luxe Sathorn).