Mulpha to sell two hotels in Australia

Mulpha International Bhd is looking to dispose of its two hotel properties in Brisbane and Sydney in a move to consolidate its Australian operations and enhance shareholder value, executive chairman Lee Seng Huang said. 

“We are negotiating with an interested buyer to dispose of Sheraton Brisbane at A$100mil while another party has expressed interest to acquire Novotel Century Sydney Hotel for A$50mil,” he added.