Plenitude to invest RM114.3mil in South Korean hotel

KUALA LUMPUR: Property developer Plenitude Bhd has proposed to invest in a 13-storey hotel in Seoul, South Korea, for approximately RM114.3 million via its indirect-owned Singaporean subsidiaries, Plenitude Koi Pte Ltd and Bizcentre Capital Pte Ltd.

The proposed acquisition comes following the subsidiaries’ subscription for the beneficiary certificates (BC) of Capstone General Private Investment Trust No. 40 -- a real estate investment trust which was established for the acquisition.