Impiana Hotels to lease WOLO KL Hotel for three-year period

The group secured approval for a name change to Magma Group Bhd.

KUALA LUMPUR: Shareholders of loss-making Impiana Hotels Bhd gave the greenlight to lease its major shareholder’s WOLO Kuala Lumpur Hotel for a three-year period.

The group, whose share price surged 206% in the past six months, also secured the approval for a name change to Magma Group Bhd.