PETALING JAYA: Yong Tai Bhd
(YTB) is proposing to dispose of a five-star hotel known as “Courtyard by Marriott Melaka” in Melaka to Southern Envoy Sdn Bhd for RM160mil.
In a filing with Bursa Malaysia, YTB said the proposed disposal will allow the group to repay existing bank borrowings and payment of outstanding progress claims to the hotel contractor, thus improving its gearing level.
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