KUALA LUMPUR: Exsim Hospitality Bhd (EHB) has signed a memorandum of understanding (MoU) with Exsim Ipoh City Sdn Bhd (Exsim), a member of Exsim and simultaneously Exsim enters into a joint venture agreement (JVA) with Liew Yin Yin Land Sdn Bhd (LYY) for the development of 1.291 acres of land in Ipoh, Perak.
Exsim Hospitality Bhd (EHB) has signed a memorandum of understanding (MoU) with Exsim Ipoh City Sdn Bhd, part of Exsim, and a joint venture agreement (JVA) with Liew Yin Yin Land Sdn Bhd (LYY) for the development of 1.291 acres of land in Ipoh, Perak, to accelerate its growth.
In a statement, EHB said the development will feature a hospitality building comprising of 420 serviced apartments and four retail units with adaptable layout options ranging from 484 sq ft to 904 sq ft. that includes a functional dual key type.
It said the initiative aims to create more business opportunities and expand into Ipoh City. Once completed, EHB will use its expertise through its short-term rental brand, Mana Mana Hospitality (MMH), supported by EXSIM.
MMH will manage operations with a focus on offering high-quality, customer-friendly staycations, transforming properties into stylish, appealing spaces designed for vacationers.
EHB executive director Paramjit Singh said the MoU represented another significant step for EHB, as it solidified its presence in the hospitality sector.
“By aligning with Exsim, we aim to bring sustainable and innovative solutions to the market, catering to the growing demand for premium accommodations and enhancing value for all stakeholders. Our commitment to excellence and strategic vision places us at the forefront of the hospitality industry,” he said.
Meanwhile, LYY managing director Datuk Seri Don Liew Mun Hon said: “The joint venture with Exsim is a strategic partnership that strengthens core values and capabilities of both companies. We believe that value of the development with strategic location will be maximised and become a new iconic landmark in the heart of Ipoh City Centre. We look forward to successful completion of this project that will contribute to and enhance Ipoh tourism industry.”
