Tuan Sing bids for Aussie hotel group

MELBOURNE: Singapore's Tuan Sing Holdings Ltd launched a A$213mil cash bid to buy out Grand Hotel Group, in a move to pick up GHG's hotels below book value. 

Tuan Sing, which already has 25% stake in Grand Hotel, said its offer was a better choice for the shareholders rather than GHG's plan to sell hotels after turning down a A$220mil offer from Malaysian group Mulpha International Bhd.