By BERNAMA
Plenitude International Sdn Bhd has signed a sale and purchase agreement with the Employees Provident Fund (EPF) to acquire a 259 suite hotel in Penang for RM160 million cash.
In a filing to Bursa Malaysia today, it said the acquisition included the hotel, known as the Gurney Resort Hotel & Residences, the retail units located on the ground to second floors of the retail podium, and 551 car park bays.
“The acquisition is an opportunity for Plenitude to expand its hotel business, which includes Four Points by Sheraton Penang, and is expected to contribute positively to the future earnings. The deal is expected to be completed in the 4Q of 2014,” it said.
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