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The upcoming performance and earnings visibility would remain “tough moving forward,” they said, adding that the delisting would also cut costs and savings would be ploughed back into refurbishment of the hotels.

The group is principally engaged in hotels and service apartments, the provision of limousine services and hotel management.

The latest term loan facility is expected to increase the group’s gearing ratio to 1.

LFE said its wholly owned subsidiary LFE Engineering Sdn Bhd had accepted two letters of awards from MLG Design & Construction Sdn Bhd to be appointed as a subcontractor for the hotel project in George Town.

Under the agreement, Huawei will serve as the technology advisor, while JJ-LAPP will be the authorised value-added partner to promote and sell the smart PV solutions across residential as well as commercial and industrial (C&I) sectors.

SolaRIS is currently offering homeowners a one-off RM4,000 cash rebate upon installation of solar photovoltaic (PV) systems to power their homes.

Of the assets that were acquired, 80% were equities while the remaining 20% comprised properties.

It features 200 rooms and 17 villas and facilities, such as a 24-hour fully-equipped fitness centre and a yoga deck, swimming pools, jacuzzi, The Qi Forest Spa & Wellness, a 551 sq m grand ballroom with a built-in LED screen, and three restaurants called Dapur, Sekoci, and Greatroom Bar and Lounge.

“Considering its significant potential, the installation of solar PV systems in residential premises should be expanded to support the government's efforts to increase RE capacity in the electricity supply system to 70% by 2050 and to reduce carbon emissions from the electricity supply sector.

The proposed sale of the 384-room hotel includes office and retail space within the 21-floor main building and four-floor annex building with parts leased to specialty restaurant operators, Colliers said in a statement.