MUI sells two hotels in UK

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

PETALING JAYA: Loss-making but asset-rich Malayan United Industries Bhd (MUI) has finally started to show signs of sweating its properties. The diversified group sold two of its hotels under the Corus brand in the United Kingdom, the proceeds of which went for loan repayment and working capital.

In response to StarBiz queries, a spokesperson from MUI confirmed it has sold The Old Golf House Hotel in Outlane, Huddersfield and The Imperial Crown hotel in Halifax.