Shangri-La Hotels' 3Q net profit surges 158% on-year on improved leisure demand
Revenue increased by 49.
Revenue increased by 49.
The existing property is a luxury condominium with a gross development value (GDV) of RM820 million.
The company said Lee and his spouse Datin Seri Joanne Yew Hong Im are currently the group’s largest substantial shareholders, with 120.
The group said Advance Opportunities Fund and Advance Opportunities Fund I have ceased to be the group’s substantial shareholders, with the former offloading its entire 65 million shares or 10.
On Wednesday, the hotels and resorts operator announced that it had entered into a Memorandum of Understanding (MoU) with Choo Kok Yeow, a major shareholder of Cafelink who represents the existing shareholders of the company, to acquire 217,000 ordinary shares in the F&B operator.
Advance Opportunities Fund ceased to be a substantial shareholder of Impiana on April 14 after selling 21.
"Among the steps that need to be taken is to immediately reintroduce a strict standard operating procedure as a preparedness measure in addition to ensure that Malaysia becomes a destination of choice for foreign tourists to visit.
Its report also revealed that hotel occupancy in Kuala Lumpur has been rising since the start of 2022, reaching 60% in August 2022.
“The company has obtained legal advice and intends to contest the winding-up petition vigorously as Impiana Cherating is able to settle the amount claimed and there is no need to liquidate the assets of Impiana Cherating to settle the amount.
Malaysia Budget and Business Hotel Association national president Dr Sri Ganesh Michiel said the association requests Airbnb, which runs an online marketplace for lodging, not to mislead any party for the benefit and survival of an unregulated or unlicensed business.