Turnaround in sight for Magma

Upgrade vital: A view of the Impiana KLCC Hotel. Magma is working on improving its operations.

TIME will tell if Magma Group Bhd’s three-pillar expansion plan can help turn around its loss-making business.

But turning profitable is just one part of the problems faced by Magma, or formerly known as Impiana Hotels Bhd. The group, which placed out shares recently to raise cash for debt repayment, has about RM73mil in debt based on its latest financial statement.