PETALING JAYA: Johan Holdings Bhd
is proposing to dispose of The Orient Star Lumut hotel and three pieces of leasehold land in Lumut, Perak, to Golden Peak Hospitality & Consultancy Sdn Bhd for RM47.43mil.
In a filing with Bursa Malaysia, the company said the three-star hotel consists of 150 rooms with a gross floor area of approximately 15,371.4 sq m. Meanwhile, the three plots of land have a combined area totalling 27,093 sq m and surround and complement the hotel, it said.
“The group is undertaking the proposed disposal as part of its strategy to constantly evaluate its portfolio of investments and where possible, to seek opportunities to unlock and realise the value of its investments for the benefit of the shareholders of Johan.
“Pursuant thereto, the group intends to undertake the proposed disposal and monetise the subject properties, whereby the funds raised from the proposed disposal will be utilised as working capital requirements for the group.”
