KUALA LUMPUR: Johan Holdings Bhd
’s 80 per cent-owned subsidiary, Lumut Park Resort Sdn Bhd (LPR), will dispose of a three-star hotel and three adjoining land parcels in Perak for a total cash consideration of RM47.43 million to Golden Peak Hospitality & Consultancy Sdn Bhd (GPHC).
LPR has signed a conditional sale and purchase agreement with GPHC and its ultimate shareholder, Bujang Holdings Sdn Bhd, Johan said in a filing with Bursa Malaysia today.
The group said the proposed disposal forms part of its strategy to regularly review its investment portfolio and unlock value where possible for shareholders.
"The group intends to monetise the properties, with proceeds to be used for working capital,” it said.
Johan said strengthening its working capital would enhance liquidity and financial stability, improving its ability to manage day-to-day operations.
Barring unforeseen circumstances and subject to relevant approvals, the disposal is expected to be completed by the third quarter of 2026. - Bernama
