YANGON, March 12 (Eleven Media Group): As Myanmar's hotel industry struggles to recover from the double whammy of the coronavirus pandemic and the 2021 military takeover, Keppel Corporation will sell Sedona Hotel in Yangon for US$57.4 million, Nikkei Asia reported.
The Singapore government-backed conglomerate is accelerating asset sales to bolster its environmental business. Keppel said in a statement this week that the sale of the high-end Sedona hotel is consistent with Keppel Corp's share capitalization plans to raise capital to enable new development opportunities.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
