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Top News In Copthorne Orchid Hotel Resort In Penang Today - Breaking & Trending Today

Ivory Properties buys hotel in Penang for RM75m cash

The hotel sits on a parcel of freehold land measuring at 2.5 acres, and has ceased operations.
Ivory Properties said it is buying the property on behalf of its wholly-owned subsidiary company, Ivory Utilities Sdn Bhd. Both Ivory Properties and Copthorne Orchid Penang Sdn Bhd have inked the sale and purchase agreement for the acquisition today, the group’s bourse filing showed.
Copthorne Orchid Penang is an indirect wholly-owned subsidiary of Singapore Exchange’s Main Board listed company, City Development Ltd.
Ivory Properties said it plans to develop a hotel and serviced apartments on the land with a gross development value of RM410 million. The development is expected to commence in 2022 and be developed over a span of three to four years. ....

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AAX, RHB Bank, Deleum, Hartalega, Top Glove, Luxchem, Ivory Properties, Ta Win and Bina Darulaman

KUALA LUMPUR (Dec 14): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Dec 15) include: AirAsia X Bhd, RHB Bank Bhd, Deleum Bhd, Hartalega Holdings Bhd, Top Glove Corp Bhd, Luxchem Corp Bhd, Ivory Properties Group Bhd, Ta Win Holdings Bhd and Bina Darulaman Bhd.
AirAsia X Bhd s (AAX) deputy chairman Datuk Lim Kian Onn is spearheading a special purpose vehicle (SPV) to pump in at least RM50 million fresh capital into the low-cost carrier, which is in the midst of negotiating with its creditors for debt and liabilities restructuring.
AAX announced its equity raising plan that entails a cash call to its existing shareholders to raise up to RM300 million plus issue of new shares to new investors to raise an additional RM200 million. ....

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