Rahsia Estates, a property developer based in Sarawak, has appointed Ri-Yaz Hotels & Resorts to manage its new five-star hospitality project in Langkawi.
Currently being constructed at a cost of RM380 million (US$127 million), Rahsia Estates Resort Residences & Spa will comprise 268 hotel rooms and residential suites when it opens in mid-2015. Rahsia Estates CEO, Hanizah Abdul Hamid, said: “This will be Langkawi’s first gated mixed hospitality and resort residential development.”
According to Hanizah, the 6.9-hectare estate will be divided into three precincts. Precinct 1 will have 121 apartment units ranging from 73m2 – 167m2, Precinct 2 will feature a 116-room hotel and spa, while Precinct 3 will offer 31 cabana villas with private pools and landscaped gardens. Ri-Yaz Hotels & Resorts managing director, Shaheen Shah, said: “Our expected average room rate (for the Langkawi property) is RM1,200 a night, and we are targeting 65 per cent occupancy.”
Asian Overland Services Tours & Travel assistant account manager, Ronnie Chan, said: “This property will compete with the Four Seasons (Resort Langkawi) in price, which is hard to sell. It will be a bigger challenge to sell 268 units at that price. Our clients from Europe, Australia and Asia are more comfortable with rooms in five-star hotels costing about RM500-600 a night.”
Ri-Yaz currently operates two other hotels in Malaysia – the Cyberview Resort & Spa in Cyberjaya, and the Ri-Yaz Heritage Marina Resort & Spa in Duyong Island, Terengganu.
-TTG Asia.
YIP KUM FOOK: Pempena ordered to wind up
ReplyDeletePosted on 8 July 2012 - 09:55pm
Last updated on 9 July 2012 - 12:05pm
R. Nadeswaran
citizen-nades@thesundaily.com
KUALA LUMPUR (July 8, 2012): The controversial and financially troubled business arm of Tourism Malaysia – Pembangunan Pelancongan Nasional Sdn Bhd (Pempena) – has ceased to exist.
Last month, the High Court ordered the company to be wound up and a liquidator appointed to manage its affairs.
The winding up petition, which was undefended, was moved by Kah Bintang Auto Sdn Bhd after
Pempena, a subsidiary of the Tourism Ministry, failed to pay RM12.4 million for the purchase of 120 units of Hyundai Sonata for its taxi service.
According to court papers filed at the High Court registry, Kah Bintang claimed Pempena failed to pay the money ordered by another High Court in April last year after a protracted hearing in a breach-of-contract suit in which both parties were represented.
Following the judgment, the law firm representing Pempena, Ringo Wong and Associates, discharged itself and Messrs Hafirizam Wan and Aisha Mubarak was appointed its lawyers.
In his affidavit, Kah Bintang managing director Datuk Robert Wong said letters of demand which were sent by registered post in September last year to both the registered and business addresses were returned.
However, the same letters sent to four of its directors – Datuk Yip Kum Fook(Who is bad name in Buddhist, MCA GOMBAK), Datuk Donald Lim Siang Chai, Syed Abdul Rahman and Jaigani Jaafar – were acknowledged as received.
Having had no response, Kah Bintang published advertisements of winding up in two national newspapers and hearing for the petition was set for June 13.
Pempena was not represented at the hearing and accordingly, the court gave the company 14 days to pay up or be wound up. As of June 27, no monies were forthcoming and the liquidator is to be appointed in the next few days.
Meanwhile when contacted, Lim, who is the deputy finance minister, told theSun that Pempena's directors had given the company's chief executive officer instructions upon receiving notice of the winding-up petition.
The CEO had been told to instruct the lawyers to file a defence, but they did not, said Lim who did not respond to further attempts at getting clarification.
Pempena was set up in 1976 to carry out tourism-related business and development.
Over the years, it hit the headlines after various bad deals came to light, resulting in massive losses for the company.
In 2009, an independent audit ordered by the ministry showed only a few of the 24 companies invested in by Pempena showed profits in the past three years.
On May 29, theSun reported that Pempena's stake in the controversial loss-making restaurant Awana Chelsea in London had been sold.
It had previously closed its doors on similar outlets in Beijing and Hyderabad.
According to the auditor-general's report tabled last year, Pempena's venture in opening the London restaurant had brought "dismal results", raking in only £13,000 (about RM64,000) in 2007, far from its annual target of £520,692 (RM2.5 million).
The report also noted that Pempena had yet to get any returns from its RM3.73 million investment.