Thursday, December 16, 2010

#Flash* Mulpha Intl to reap RM207m gains from Melbourne hotel sale

KUALA LUMPUR: MULPHA INTERNATIONAL BHD []'s units are selling the Hilton Melbourne Airport

Hotel for A$108.88 million (RM327 million) and they are expected to reap about RM207 million in gains from the sale.

The original investment cost was A$40 million (RM120 million) in June 2004 as part of a larger acquisition of a portfolio of PROPERTIES [].

Mulpha Hotel Pty Ltd and Mulpha Australia Ltd had on Thursday, Dec 16 entered into a conditional contract for the sale of business with Success City Pty Ltd (SCPL) to dispose of the hotel.

SCPL is a unit of Pan Pacific Hotels Group Ltd, a company listed on the Stock Exchange of Singapore.

No comments:

Post a Comment